• BARCLAYS LAUNCHES £10 MILLION CAMPAIGN TO COMBAT FRAUD

Cybercriminals are invisible which makes them very hard to track and identify. It can be easy to ignore a threat that you cannot see and in turn not consider it to be something that is high on the priority list. However, the truth is, cyber-crime is one of the greatest threats to face the country and for the most part people seem to be wholly un-equipped to tackle it.

The Cyber Security Breaches Survey 2017 reveals nearly seven in ten large businesses identified a breach or attack, with the average cost to large businesses of all breaches over the period being £20,000 and in some cases reaching millions.

The survey also shows businesses holding electronic personal data on customers were much more likely to suffer cyber breaches than those that do not (51 per cent compared to 37 per cent).

Ciaran Martin, CEO of the National Cyber Security Centre, said:

“UK businesses must treat cyber security as a top priority if they want to take advantage of the opportunities offered by the UK’s vibrant digital economy.”

On the back of some serious cyber-attacks recently, Barclays bank are now offering a new feature to their customers to try and help them have more digital control over their finances.

According to some frightening statistics, Barclays states that a quarter of UK customers have been victim of some sort of online fraud within the last three years. Furthermore, 18% of those have been hit more than once.

In an effort to address the problem, they have named London, Birmingham and Bristol “the scam capitals of the UK” and have also warned that the most vulnerable group is highly educated Londoners aged between 25 and 34.

17 percent of victims don’t seem to take any action to improve their security post incident, and only a mere 17 percent of those customers were able to identify fraudulent messages.

Barclay’s have now decided to introduce some new security measures to the online side of the business and have also created a £10 million campaign to help make UK customers more aware of digital fraud and cyber security risks.

It is now possible for customers who bank with Barclay’s to manage both their remote spending and also limitations on withdrawals from its mobile app. This will undoubtedly give people a lot more control over their assets if their cards or information is either lost or stolen.

In another act of raising awareness, Barclays have also created an online quiz to work in tangent with the awareness campaign in order to test customers knowledge of cyber-crime and also teach them the best practices of keeping their information safe. They’re also offering workshops to personal customers and SME’s alike, promising to proiritise fraud awareness takeovers on its websites.

“Fraud is often wrongly described as an invisible crime, but the effects are no less damaging to people’s lives,” said Ashok Vaswani, chief executive of Barclays UK.

“As a society, our confidence in using digital technology to shop, pay our bills and connect with others has grown faster than our knowledge of how to do so safely.

“This has created a digital safety gap which is being exploited by criminals.

“I believe the need to fight fraud has now become a national resilience issue, and we all need to boost our digital safety levels in order to close the gap.

“That is why we are launching this new national campaign on digital safety, and we will do all in our power to arm people with the tools and information they need.

“But we also need to support and encourage the public to take action to protect themselves, such as changing passwords regularly. They can take the first step by completing our new free online quiz and discover how to boost their defences.

“I want to help make digital safety as commonplace as locking your front door. I want businesses, the police and the public to unite and stand shoulder to shoulder together so that we can block and frustrate the bad guys at every turn.”

At Increase the Wedge, we ensure that every website we make has as many preventative measures in place as possible to ensure that our customers and their data are safe and secure. If you would like us to take the stress out of keeping your website secure or simply some advice on what you can do, get in touch today.

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