Almost half a million SMEs within the UK have felt the effect of cyber-led scams this year.
Recent research from Lloyds Bank revealed that this year there has already been a 58% climb in cyber related crimes – however, the report only relates to fraud which implies that the scale for cyber-led crimes is actually much larger.
The research found that just 20% of those who have suffered an impact of cyber-led crime have said they are now thinking twice before accepting a request in work. It was highlighted that the small precautions surrounding online safety is supporting impersonation fraudsters.
Just over a third of employees within the work place do not know what they should be looking out for and to add there are no security precautions which leaves them in an exposed position.
Managing Direction of Business Banking at Lloyds Bank, Gareth Oakley comments;
“The rise of impersonation fraud is a very concerning issue for small and medium-sized businesses. We know that falling victim to these types of scams can be serious as the impact extends beyond just the financial implications.”