How to protect yourself against cyber fraud

Recently two of my clients have been the victims of fraudulent bank transactions. Both of these crimes were for values of more than £15,000, one client is likely to get their money refunded but for the other the news is not so good and they may have to incur the full costs of the loss.
Cyber crime is on the increase. A quarter of all UK businesses have been the victims of fraud, yet almost 40% of businesses do not invest in any type of fraud prevention.
Statistics show that 88% of cyber fraud involves some form of ‘social engineering’. Essentially this means that people are tricked or manipulated into divulging confidential information. Examples of this include invoice fraud, phishing and vishing.
You and your systems are the last line of defence against cyber fraud. Here are some tips to help you stay protected.
1. Back up business critical data regularly either to the cloud or to a removable hard disk drive
2. Update security software and your firewall to the latest versions
3. Update your internet browser to the latest version
4. Use strong passwords – a minimum of 8 characters mixing upper and lower cases, numbers and symbols. Encourage everyone in the organisation to change passwords regularly and keep them safe
5. Control any removable media – USB drives, CDs and DVDs, they can carry and transfer malware and viruses
6. Be careful what you click or download, remember to look out for things that look too good to be true


For more information on the topic, please contact Adam Parton.