Cybercrime offensive on SMEs

Research conducted by Opinium on behalf of Beaming shows almost two thirds of small businesses (SMEs) have fallen victim to cybercrime in the last year.

Smaller businesses (10-49 employees) are often more vulnerable and less protected against cybercrime, meaning phishing, malware and hacking are more likely to succeed when compared to larger businesses with a more sophisticated cybersecurity apparatus.

The research reveals the equivalent of 130,000 SMEs nationwide have faced some kind of cyberattack in the last year at the staggering cost of £13.6 billion.

Similarly, 21,000 medium businesses (50-249 employees) have experienced some form of cyberattack in the last year at the collective cost of £3.1 billion.

Phishing emails are the most common form of cybercrime, impacting a quarter (25%) of UK businesses at total level, while ransomware attacks were the most financially damaging, costing victims on average £21,000 each.

Read more here.