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  1. ITV Report

Cyber crime costs local businesses £2 million per year

Cyber crime costs small businesses up to £65,000 per attack Photo: PA

Cyber crime in the South West has cost businesses nearly two million pounds in the past year but only one in ten crimes are reported to police.

Today Devon and Cornwall Police, local businesses and internet security experts are holding a joint conference in Exeter to discuss the problem.

Police say cyber attack can't be stopped, but the effects can be reduced Credit: PA
12
Percentage of cyber crimes reported to police last year
74
Percentage of small businesses who suffered a cyber crime last year
£35-65k
Average cost to a small business of a cyber attack
90
Percentage of major businesses whose security was breached last year

We are hearing more and more about 'cyber attacks' that lead to financial or credibility loss e.g. hacking, phishing and ransomware.

As more and more people become aware of and use technology, the more cyber related crime is becoming more frequent, increasingly complex and with economic impact at a local regional and national level.

Internet and digital related crime has a consequence for people and businesses, and the people associated to them, including staff, customers and stakeholders.

Cyber risk will not go away. It cannot be stopped but it can be mitigated.

– Bob Bunney, Devon & Cornwall Police
Many businesses don't report cyber crime Credit: PA

The escalation in the scale and scope in cyber related crime is evident. Barely a week goes by without a substantial new cyber-attack receiving national coverage.

It is important that the business community recognise the threats to their operations posed by these attacks and take simple steps to protect themselves, their customers and clients

– Alison Hernandez, Police and Crime Commissioner

To find out more about South West Cyber Security Cluster visit www.southwestcsc.org or follow the team on Twitter @SouthWestCSC.