Online Fraud and Cybercrime – Essential knowledge for SMEs

Online Fraud and Cybercrime – Essential knowledge for SMEs

“Cyber-crime, by definition, is the greatest threat to every profession, every industry, every company in the world…”

So said Ginni Rometty, IBM Corp.’s Chairman, President and CEO, when addressing IBM’s security summit in 2015. It was true then, and in the four years since cybercrime has continued its rise to become the key day-to-day security issue for people and business all over the world.

Earlier this month we welcomed DC Dan Maund, police cyber security advisor with the South East Regional Organised Crime Unit, along to BML HQ, to deliver an invaluable presentation to our clients on practical ways to protect their businesses from today’s, and even tomorrow’s, cyber threats. The event included a ‘mini-hacks’ workshop where attendees were shown the basics behind phishing, cracking hashes and brute force remote desktop hacking.

Following this partner Dan Martin (head of Crime and Regulatory) and partner James Simpson (head of BM Data Services) teamed up to talk about the importance of having a well-thought out cyber-attack plan in place, and how speed is vital in effectively tackling data breach fallout.

In 2018 estimated global revenues from cybercrime reached a staggering $1.5 trillion, with 72% of UK business with 250+ employees reporting that they had been victim to a cyber breach or attack within the same 12 month period. However, surprisingly only 27% of UK businesses have formal cyber security policies in place, which means that the vast majority of businesses are at critical risk of a potentially devastating cyber breach.

In our newly published guide to Online Fraud and Cybercrime, we look at national and international cybercrime trends, different types of threats and practical ways of minimising risk to your business. The guide for SMEs includes real-life case studies and our own 9-step cyber-safe toolkit to improve cyber security across your business and help to ensure you are prepared for tomorrow’s threats.

At Blaser Mills Law our teams offer a diverse range of services to support businesses in preparing for, and dealing with, cyber threats and breaches, including breach management, investigation and mitigation, data protection (GDPR) services, reporting and defending enforcement. Should you wish to discuss any of the topics raised in our guide and how we might help you then contact us on dataprotection@blasermills.co.uk or call 0203 814 20 20.