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​Cybercrime: The Threat to Business

Are you sure you're protected? Read about the current threats and boost your awareness of the dangers of Cybercrime

The British economy continues to face a growing threat from cybercriminals, with attack frequency increasing at an alarming rate.  This warning comes from the National Cyber Security Centre (NCSC) and the National Crime Agency (NCA).

Reports from the NCSC and the NCA focus on the success of collaboration between industry and law enforcement. This has established a great foundation to combat cyber-attacks in the UK.

Donald Toon, the director of the NCA's Prosperity Command warns:

"Organisations which don't take cyber security extremely seriously in the next year are risking serious financial and reputational consequences”

Are you sure you’re protected?

The NCSC has issued a warning over cloud security:

“As more organisations decide to move data to the cloud, it will become a tempting target for cyber criminals” “They will take advantage that many businesses put too much faith in the cloud providers and don’t stipulate how and where their data is stored.” “It is clear that even if an organisation has excellent cybersecurity, there can be no guarantee that the same standards are applied by contractors and third-party suppliers in the supply chain,” the report said. “Attackers will target the most vulnerable part of a supply chain to reach their intended victim.”

The report serves as a warning to companies. Do not get complacent, no matter how good you think your cybersecurity is, it is at risk.

The latest threat

The latest phishing threat to Businesses allows a cybercriminal to impersonate a senior executive, providing the opportunity to trick the organisation into sending funds or data unwittingly.

The Dublin Zoo incident was featured in the report as an example of this scam. An email interception led to an error in payment costing nearly £420,000.    

Fraud of this nature costs UK Businesses £32.2M a year. This accounts for a third of all fraudulent crime.  

Recent Great Western Railway Attack

In last week’s well reported cyber-attack, GWR found 1,000 customer accounts had been compromised by hackers. Once the cyber criminals have access to this type of personal data, as well as selling it on the darkweb, they can easily infiltrate customers’ accounts who had poor passwords habits. It’s generally accepted that many users utilise identical passwords for multiple services (email, banking etc) and this increases the value of this account data.

Take Action!

We urge anyone who has any concerns or would like to learn more about cybercrime and ways to prevent it, to give Taurus Clearer Communication a call.

Our free Cybercrime seminar is well worth attending. The event will be delivered in collaboration with the newly formed digital capabilities unit from Devon and Cornwall police and leading Cyber Security professionals. 

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