Graham attended a briefing by the Federation of Small Businesses on their report, Cyber security and fraud: the impact on small businesses.
Graham said: “Cyber crime costs small businesses around £785 million per year as they fall victim to fraud and online crime.
“The report shows that 41% of FSB members have been a victim of cyber crime in the last 12 months, putting the average cost at around £4,000 per business. However, the report finds that almost 20% of FSB members have not taken any steps to protect themselves from a cyber crime.
“The FSB has developed ten top tips for small firms to help them keep their data secure and reduce the risk of online fraud. The 10 top tips for business are:
• Implement a combination of security protection solutions (anti-virus, anti-spam, firewall(s))
• Carry out regular security updates on all software and devices
• Implement a resilient password policy (min eight characters, change regularly)
• Secure your wireless network
• Implement clear and concise procedures for email, internet and mobile devices
• Train staff in good security practices and consider employee background checks
• Implement and test backup plans, information disposal and disaster recovery procedures
• Carry out regular security risk assessments to identify important information and systems
• Carry out regular security testing on the business website
• Check provider credentials and contracts when using cloud services
“Cyber crime can hit small firms hard, so it’s important they think carefully about the procedures in place to prevent it. These tips are an excellent tool for businesses that aren’t sure where to turn to for advice, and set out clear steps that can be taken to reduce the risk of operating online.”