Cost Of Online Crime Quantified In The UK

As the recession has set in, more than a few small businesses have invested in tougher locks and alarm systems.  We’re going to issue the second reminder this week about online security, though, since a new report puts the damage caused by it at an unpleasantly high value in the UK.

The Federation of Small Businesses, which has more than 215,000 members, believes the average company loses around

£768 (or $1,106) per year due to Web-based issues.  These problems aren’t rare, and there are at least a few of them to consider.

A press release explains, "More than half (54 per cent) of businesses reported being a victim of crime in the last twelve months – 37 per cent having problems with phishing emails, 15 per cent falling victim to card not present fraud and another 15 per cent falling foul of IT problems caused by viruses and hackers."

So at least the biggest danger is one that can be addressed without taking expensive precautions.  Just try to be a little bit vigilant when reading work-related emails.  And you can help on the virus and hacker front by doing the same thing and extending that cautious mindset to when you’re browsing the Web.

Consider supporting a push to establish an official online crime reporting center, too.  Mike Cherry, the FSB’s Home Affairs Chairman, said, "It is important that the Met Police E Crime Unit and the National Fraud Reporting Centre must work hand in hand to set up an effective system to gather intelligence and use it to investigate and prosecute when this crime occurs.  Businesses are currently simply being left very exposed."