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Cyber Crime

Small businesses bearing the brunt of cyber crime
FSB launched a new report on cyber crime, which suggests that small firms are unfairly carrying the costs in an increasingly vulnerable digital economy.

We polled our members and found that two thirds of them had been hit by some form of cyber/online attack in the past two years – with an average cost to them of £3,000. Multiply that across the whole of the 5 million strong small business community in the UK and that adds up to an astonishing seven million cyber attacks a year at a cost of over £5 billion to the economy.

It is frightening stuff indeed – and proof that we need a concerted effort by the Government and all the other agencies to raise awareness of the issue and help us deal with it because sadly this is one crime that isn’t going away.

 

(Read the full report here ) Cyber Resilience: How to protect small firms in the digital economy,’  It was found that while most small firms (93%) are taking steps to protect their business from digital threats, two thirds (66%) have been a victim of cyber crime in the last two years – costing the UK economy around £5 billion per year. As reported by City AM, FSB called for more to be done to help small businesses protect themselves from the growing cyber risk.