FSB WARNS CYBER CRIME A HUGE COST TO BUSINESS

A local Stockport MP is urging businesses to stay safe onine following a report from the Federation of Small Businesses – FSB – shows that cyber crime is costing its 200,000 members nearly £800 million per year, an average of nearly £4,000 per business.

            Andrew Stunell MP has urged Stockport businesses not to fall victim to cyber crime
            after an FSB revealed that one in five firms took no precautions at all, while over
            40% had suffered cyber crimes in the last year.

            The report shows that cyber crime costs its members an average of £3,926 each as
            they fall victim to fraud and online crime.

Commenting, Andrew said –

“Cyber crime can be devastating for a small business, yet there are simple steps that can prevent it. The FSB’s survey should be a wake-up call, and their top tips are an excellent tool for firms that aren’t sure where to turn for advice, and set out clearly how to reduce the risks of operating online.”

         The 10 top tips for businesses are:   
         1. Install multiple online security programmes.
         2. Carry out regular online security updates.
         3. Create a password policy (min eight characters,
         change regularly)
         4.Secure your wireless network
         5. Develop clear and concise procedures for email,
         internet and mobile devices
         6.Train staff in good security practices and consider
         employee background checks
          7. Implement and test backup plans.

 8.  Carry out regular security risk assessments
 9.  Carry out regular security testing on the business website
10. Check provider credentials and contracts when using cloud services

The FSB report shows that around three in 10 members have been a victim of fraud, typically by a customer or client (13%) or through ‘card not present’ fraud (10%).

However, the report finds that almost 20 per cent of FSB members have not taken any steps to protect themselves from a cyber crime.

The research is based on a survey of 2,667 members of the FSB ‘Voice of Small Business’ Survey Panel. The research took place between 20 September and 3 October 2012. The survey was conducted by Research by Design on behalf of the FSB.

To find out more visit www.fsb.org.uk/fsb-survey-panel