Home Business NewsBusiness UK businesses lag behind in cyber security as £1bn lost to online crimes

UK businesses lag behind in cyber security as £1bn lost to online crimes

28th Mar 17 8:56 am

Survey of thousands of firms reveals

A survey by 123 Reg, the UK’s largest website provider, has found that 10% of e-commerce websites have taken no precautions to keep their customers data safe from hackers.

The poll, which surveyed 13,000 small business owners, found that one in five e-commerce websites don’t know who handles their website security, with 50 per cent stating that they are not prepared for an attack and had no recovery plan if one took place.

A security breach can undo years of hard work in a matter of minutes and lead to loss of revenue and the end of a business.  According to research by PwC, there were 59.1m detected security incidents in 2015.

Our research revealed that eight per cent of UK e-commerce websites admitted to being hacked – equivalent to tens of thousands of e-commerce websites[1], with almost one in ten saying they didn’t know whether they had been hacked or not.

As goods are increasingly purchased online it is more important than ever to protect sensitive credit card data.  Last year it was estimated by Get Safe Online and Action Fraud that over £1bn was lost by British businesses to online crime.

Website security is a complex issue, taking in plenty of factors – that includes the kind of website you have, the passwords you use, and, of course, the reliability of your web site host.

Nick Leech, digital director at 123 Reg said: “Having an online presence is vital for small businesses, in 2015 e-commerce sales in the UK reached £533 billion, but keeping customers safe requires a team effort. Businesses can easily implement simple, yet crucial, security measures, which can help keep them safe against online attacks.  By continuously updating online programmes, regularly changing passwords and installing the latest security products, Britain’s small business owners can stay secure and continue to thrive.”

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