South: RSM warns on cybercrime threat

RSM, the UK’s seventh largest firm of audit, tax and consulting services, with offices across the south, has warned businesses to take note of the latest Crime Survey from the Office of National Statistics, which for the first time estimates the extent of fraud and cybercrime in England and Wales.

According to the new figures, adults of 16 and over experienced an estimated two million computer-misuse incidents, around two-thirds of which were computer virus related and around one third were related to unauthorised access to personal information, including hacking. Overall, adults experienced an estimated 3.8 million incidents of fraud, with just over half of these (51%) being cyber-related. 

The most common types of fraud experienced were bank and credit-account fraud (2.5 million incidents), followed by non-investment fraud, such as fraud related to online shopping or fraudulent computer service calls.

Steve Snaith, head of technology risk assurance at RSM, commented: “These latest official statistics should be a warning for businesses across the south that cybercrime isn’t some remote existential threat. It’s very real and it’s affecting individuals and businesses across the region. Cybercrime activity is evolving fast, and threats from Distributed Denial of Service (DDoS) and ransomware attacks are becoming much more common.

“While it may not be possible for businesses to protect themselves from all threats, it’s absolutely vital that they practice good, basic risk management and ensure that their staff are fully engaged and alert to the dangers.” 

DDos is an attack on a computer system where multiple compromised systems, which are often infected with a Trojan, are used to target a single system.  Ransomeware is a type of malware that prevents or limits users from accessing their system, either by locking the system's screen or by locking the users' files unless a ransom is paid.