After recent attacks on refrigeration units in the Netherlands and France, fashion brand Hobbs, UK airports and even the Housing Ombudsman site, it’s inevitable that your business will be targeted at some point. Here’s the word from BFU Mutual;
The threat of cyber-crime is forcing business owners to adapt how they operate their companies day-to-day, new research has found.
With the latest Government Cyber Security Breaches survey, released earlier this year, showing that approximately 612,000 UK companies reported having a cyber breach or attack in the last 12 months, the need to protect against online criminals remains firmly under the microscope.
And data compiled by commercial insurer NFU Mutual, as part of Cybersecurity Awareness Month, has found that business owners are having to change their behaviours in a bid to combat cyber-crime and prevent attacks.
More than two in every five small businesses who admitted they were concerned about crime said the threat of cyber-crime has affected how they now run their company, with 7% having experienced a cyber-attack in the last 12 months.
Industries of all sizes are not immune to these attacks or attempted attacks. More than two-thirds of retailers, and two in every five tradespeople, surveyed by NFU Mutual said their operation had at one time or another suffered from cyber-crime.
In the retail space, customer fraud (33%), phishing scams (25%), data theft or breaches (24%) and AI generated scams (16%) were among the most commonly-suffered incidents. Worryingly, almost 9 in 10 (87%) of those surveyed did not have insurance covering a cyber-attack, and only one in five provide training on IT security.
For tradespeople, phishing scams and ransomware featured high on the list for those surveyed, with almost two-thirds highlighting the threat of cyber-crime as a major concern to their operations.
Nick Baker, Cyber Specialist at NFU Mutual, said: “We know cyber-crime is a very real threat, and our latest research shows no matter what type or size of business, no-one is immune to this risk.
“All companies now use technology in some form, and many core business functions are carried out online, which means anyone could be vulnerable. Most companies will have a website, quotes, payments, payroll, staff information and communication tools to deal with suppliers or customers – and all of that information could be valuable to a cyber-criminal.
“It is important to acknowledge this threat and tackle it head on and we urge anyone who can do so to take some simple, cost-effective measures to protect the online data they hold.
“While the risk of cyber-crime can never be fully eliminated, some positive action can help mitigate it. This would include good cyber hygiene, two-factor authentication on crucial applications, software updates, employee education and making sure you have cover in place should the worst happen.”
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