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SMEs Most Affected by Cyber-Crime
A new report from the Federation of Small Businesses (FSB) has revealed that small companies are subjected to the vast majority of cyber attacks.
The ‘Cyber Resilience: How to protect small firms in the digital economy’ report detailed that attacks via email, including phishing (49%) and spear phishing (37%), were the most commonly used methods of attacks by hackers, followed closely by malware (29%). On average, most small companies take almost two and a half days to respond to such attacks.
The internet is almost unanimously (99%) rated as ‘highly important’ to the business of 5.4 million small businesses in the UK, yet just 4% have an action plan in case of cyber-attacks and only 2% follow a recognised security standard (for example, ISO27001 or the Government’s Cyber Essentials scheme). Furthermore, only 25% have strict password policies.
Commenting on the report, techUK’s Head of Programme for Cyber Security Talal Rajab stated that:
“The Cyber Resilience report by the FSB is a timely reminder of the effect that cyber-crime has on small businesses in particular. As more small businesses become digital, it is crucial that they do not become seen as an easy target by criminal and hackers. The Government’s National Cyber Security Centre, providing a one-stop shop of cyber advice and guidance to businesses, should help ensure that businesses of all sizes are receiving adequate cyber security help.
Mike Cherry, FSB National Chairman commented: “Small firms take their cyber security responsibility very seriously but often they are the least able to bear the cost of doing so. Smaller businesses have limited resources, time and expertise to deal with ever-evolving and increasing digital attacks. We’re calling on Government, larger businesses, individuals and providers to take part in a joint effort to tackle cyber crime and improve business resilience.”
