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More than £45million has been lost by business in the City of London to online crime in the past year, according figures from Action Fraud and Get Safe Online.

From these latest figures, Action Fraud is urging businesses to do more to ensure staff have appropriate online fraud awareness training, so that everyone understands their role in keeping the business secure.

The report showed hacking is perhaps one of the main issues facing businesses, with 1,314 reported cases over the past 12 months. Tony Neate, CEO of Get Safe Online, says: “These latest figures show the enormous and frankly daunting impact online crime can have on a business, its reputation, its employees and even its continued operation.

“It also highlights the abundance of ways a business can be targeted, both externally and from within. Businesses need to review their skills and knowledge, determine if they need outside help, and then create measures to prevent, detect and respond to potential security threats. It’s all about education, and staff must be aware and trained where necessary.”

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