Saturday, June 6, 2020

Cyber security a growing threat for East Midlands firms

42 percent of businesses with 100 or more employees have fallen prey to a cyber-attack in the last year, according to recent figures from business and financial adviser Grant Thornton UK LLP.

“The annual global cost of cybercrime is estimated to hit $6 trillion by 2021 as cyber attacks increase in quantity and sophistication every year,” says Tom Copson, Director in the firm’s East Midlands team.

“The number of East Midlands businesses with an online presence and which are using online transactions continues to grow, a strategy that for many represents the difference between survival and extinction.

“Most mid-market businesses with ambitions to grow know it is important that they embrace technology, however, with this comes an increased threat from cyber-crime, and the region’s business leaders tell us that effective cyber security is rapidly becoming a critical issue on their agendas.”

Cyber-crime’s footprint is increasing significantly each year, both in frequency and the size and sophistication of operations, as Tom explains: “Cyber-crime has evolved from being the act of an individual, to one of the many tools used by organised crime syndicates. No industry is safe from the possibility of a cyber-crime attack and being prepared is the first step local businesses need to take to help defend their business.

“80 percent of all cyber-attacks could be avoided by businesses adopting good cyber hygiene, which includes getting the basics right: As cyber-crime has evolved, traditional defence strategies such as the hardening of firewalls and intrusion prevention systems are no longer sufficient. Resilience is now about the management, rather than the elimination, of cyber risk. Businesses must recognise that their security measures need to go beyond just software and IT departments.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Union hits out at East Midlands aerospace parts firm as 420 redundancies planned

Aerospace parts firm SPS Technologies "must not exploit the lockdown" to slash jobs and terms and conditions at its sites in Nottingham, Leicester and...

Streets focus on job and employment schemes in latest business update

Streets Chartered Accountants provide details of changes to Coronavirus Job Retention Scheme including the introduction of flexible furlough in its latest business support update. As...

3 business tips for saving money during Coronavirus

Coronavirus has changed every business in the world. Whether you’ve been made to work remotely, put your staff on furlough, or redirected your resources into...

New ownership for Market Harborough ventilation, maintenance & hygiene company

System Hygienics, formerly the service arm of the Hotchkiss group - the largest duct manufacturer and installer in the UK – have new ownership,...

Construction of Kirkby’s new Leisure Destination takes a step closer

Plans to bring a new state-of-the-art leisure centre to Kirkby in Ashfield have taken another step forward. Ashfield District Council is seeking tenders from contractors...

Related news

Shared office spaces cautiously reopen

Many of the UK’s network of 5,000 shared office spaces are tentatively re-opening this month as more businesses return to the workplace as the...

Union hits out at East Midlands aerospace parts firm as 420 redundancies planned

Aerospace parts firm SPS Technologies "must not exploit the lockdown" to slash jobs and terms and conditions at its sites in Nottingham, Leicester and...

Streets focus on job and employment schemes in latest business update

Streets Chartered Accountants provide details of changes to Coronavirus Job Retention Scheme including the introduction of flexible furlough in its latest business support update. As...

3 business tips for saving money during Coronavirus

Coronavirus has changed every business in the world. Whether you’ve been made to work remotely, put your staff on furlough, or redirected your resources into...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close