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The True Costs of Cybercrime & Fraud

For many businesses, cybercrime is something of a bogeyman. We fear it, but we don’t understand it and we’re not even totally convinced it’s actually there. Here at UKIS we deal with these sorts of issues on a daily basis, working with businesses that have been negatively affected by cybercrime, especially fraud.

How bad is it, really?

The scale of damage relating to cybercrime varies significantly. Some businesses get away with minor financial damage and severe embarrassment. Others have faced the loss of all their client data, major financial damage, or have even been forced to close up shop. Cybercrime, therefore, must be understood, prepared for, and taken seriously in order to avoid these consequences.

The more prepared you are for an issue of this nature, the more you can do to protect yourself. There are many forms of cybercrime that can be ruled out entirely simply by taking the necessary precautions. For example, if your employees simply don’t know your clients confidential information, they can’t give it away, thus preventing a very simple leak of crucial data.

But wait, that doesn’t sound like a digital issue?

This is where things get a bit counter-intuitive – the weakest link in any digital security system is most often the people who use it. To give an extreme example, even the most secure password is worthless if you wrote it down on a post-it note and left that note on the train. You’d be surprised (and appalled) by how often we encounter digital security systems that can be bypassed if you just ask a human operator to let you in.

This sort of digital intrusion is known as a phishing attack. A malign actor will often call the organisation, posing as an employee or even a senior manager who has forgotten their login credentials, and simply request that they be told them over the phone. This actor will “phish” around – if one employee wises up and won’t tell them anything, they’ll simply call back until they get another, less wary responder. If they can get a human on the other side to let them in, then the security system is worthless.

That’s horrible! How do I stop it?

Training and awareness is the name of the game when it comes to preventing cybercrime, especially phishing. Having a robust policy in place which prevents data leaks is much simpler than it might seem – it’s in the enforcement of this policy that businesses tend to fall down.

UKIS offer extensive training solutions to help you ensure that all employees are on the same page when it comes to the importance of digital security. We cover a full range of potential cybercrime issues, giving your employees the tools and knowledge to recognise, asses, and deny. Contact us today to find out how we can help keep your business safe and secure from these online threats – call us on 01204 304257 or fill in our online contact form.

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