Birmingham SMEs urged to protect themselves from cyber attacks

BUSINESSES in Birmingham have been told to enhance their digital security, after research revealed a striking number of firms were ill-prepared for a cyber-attack.
 
Lloyds Bank said an event it had staged as part of its ‘Backing Your Ambition’ programme had shown two thirds of SMEs were prepared to admit their current security measures were insufficient.

Twelve per cent of those attending the event said they had fallen victim to a digital attack in the past 12 months, with most admitting that the impact on their business had been severe.
 
More than a third (36%) said they had lost up to 20% of their turnover as a result of the attack.
 
The non-financial implications of a cyber-attack were also a cause of concern for many firms.
 
Over half of attendees (55%) said that loss of time would be the most significant non-financial loss to their business, whereas over a fifth (22%) believed that data loss would cause most disruption.
 
Gary Short, senior manager at Lloyds Bank Commercial Banking in Birmingham, said: “Experiencing financial fraud can be devastating for a company, especially if it results in a monetary loss or a data breach.
 
“Firms can take a number of steps to improve their digital security and fraud protection. This includes ensuring the latest security is installed on devices, training staff on the potential dangers of operating digitally and having tough safety protocols in place for internet banking.
 
“Our research has highlighted the need for firms in Birmingham to work closely with industry professionals to ensure that they have the tailored support and guidance needed to stay safe.”
 
Rob Hadfield, director of content at Get Safe Online, which supported the event, said protecting a business against digital fraud was more important than ever before, with the vast majority of small firms using digital technology as part of day-to-day trading.  
 
“It’s vital that business leaders are educated on the risks out there, so they can take the necessary steps to ensure their devices are safeguarded against all possible threats,” he said.
 
 

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