Over Four in Five Small Business Believe They Will Not Be Targeted By Cyber Fraud

Axis for Business has learned that a recent report has found that more than four in five small business believe they will not be targeted by cyber fraud.

Axis for Business, the Low Cost Energy and Telecoms Provider

Axis for Business is a low cost energy and telecoms provider, who seek to help our customers by offering simple, honest and clear pricing. We have managed to continue to stay competitive and help you save money, because we put our customers first.

The whole reason we set up the Axis for Business blog was to keep you informed of the latest news, research and economic developments that could help you save money. That’s why we had to bring this to your attention.

One in Eight Businesses Victims of Cyber Fraud Every Year

Fraud is where somebody deceives you in order to benefit; financially or personally. Cyber fraud is an extension of that; where criminals use the internet to deceive you, usually into parting with money.

In the modern age, it’s a commonly held truth that a vast majority of companies use the internet; just last week, we blogged about how many businesses in this country need faster broadband. Furthermore, cyber fraud hits one in eight businesses in this country every year; a total cost of £20 billion.

You Aren’t Too Small, You Do Have Something worth Stealing

So cyber fraud is a serious threat to the stability of your business; yet you’d be surprised just how many companies in this country do not believe it is a threat that could affect them.

According to This is Money, a recent study conducted by Kaspersky Lab found that 82% of the UK’s 4.9 million small and medium sized companies do not believe they could be subject to a cyber-attack. Why? They believe they are either too small, or don’t have anything worth stealing.

The IT Equivalent of Remembering to lock all the Doors

This is Money spoke to Kaspersky Lab’s managing director, Kirill Slavin on the issue. Slavin said: While it is encouraging to see the extent to which micro firms are embracing the latest technologies, this must go hand-in-hand with a strong approach to internet security.

“Micro firms don’t have to become IT security experts. Most of the time it’s the IT equivalent of remembering to lock all the doors and windows when you go out, make sure you have some additional protection and not to leave valuables where others can easily see and get to them.”

Axis for Business suggests you follow this advice to protect your bottom line. The numbers here speak for themselves. You are at risk of cyber fraud, you do have something worth stealing, and it will cost you money. Don’t let it.