Web of danger

Cyber crime costs the UK economy £27bn every year, more than three quarters of which is felt by businesses, according to a report by the Government’s Office of Cyber Security.  
In light of these figures it is little surprise that recent research, carried out by Hiscox, revealed that nearly a quarter (22 per cent) of small and medium-sized enterprises (SMEs) are concerned about e-risks and online crime.
“It’s essential that SMEs have strategies in place to mitigate online risks,” said Hiscox SME insurance expert John Heaney. “Our research reveals that businesses are more concerned about hackers and ID theft [22 per cent] than having cash [8 per cent] stolen from their premises.”
More than a third (38 per cent) believed that their business is more likely to be a target for burglary since the start of the economic downturn.