Harrogate District Chamber of Commerce News

Digital crime and cyber security

19 Mar 2018 by Barclays Bank

A fascinating insight into digital crime methods was provided at our March meeting.

Andrew Dixon, of Barclays Bank, gave a comprehensive overview of the methods used to target individuals and businesses—and crucially, how we can all take measures to protect ourselves.

The cost of cyber crime in the UK is expected to reach £27bn int he coming few years. Globally, 3.1bn personal records were leaked in 2016. Cyber crime has been made a Tier 1 priority by the Strategic Defence and Security Review.

Andrew outlined the methods used by fraudsters to access information. Ransomware, such as that which affected the NHS in 2016, is spread automatically and very quickly once it is in a system.

CEO impersonation, where a fraudster sends what appears to be an email from someone in power at an organisation, is expected to become more commonplace in the coming years, as is invoice fraud. Distributed denial of service attacks, where the system is taken over and multiple devices are affected, is also on the rise.

More than 80% of fraud involves some element of phishing. This can be the straightforward false message from a bank asking you to click a link, or more targeted spear phishing, where your digital footprint is exploited to send you highly relevant but fraudulent information.

 

The full report on Andrew's presentation is in our March newsletter. Click here for more information on cyber crime and how you can keep your business safe.

To register for a webinar on cyber security, contact Martin Gerrard at Barclays - find him on our Directory.