Businesses underestimating risks of cyber crime

More than a third of businesses have fallen victim of cyber crime such as hacking, phishing and pharming.

However, according to research by Aviva, 2 in 5 (44%) business owners don’t believe they are likely to be victims of cyber crime, whilst a quarter (23%) admitted to not knowing what to do to protect themselves from cyber crime.

24% of the businesses surveyed are currently taking steps to protect themselves from cyber crime.

When asked about the different types of cyber crime, phishing was ranked highest at 77% followed by identity theft (69%) and hacking (66%).

43% were aware of ransom demands being made to them by criminals to access their information. Businesses were also aware of pharming (46%) and cyber attacks (38%) that prevent access to their internal systems.

When asked if they knew what to do if they faced up against cyber crime, more than a third of business owners (34%) admitted they don’t know, while 27% were not sure.

Angus Eaton, MD of commercial lines at Aviva, said:

“Protecting your business from cyber crime is good business because your customers want the reassurance that their data is safe in your hands. If you haven’t done so already now is the time to put cyber risk on your agenda and take action to help prevent your business becoming a target.”

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