back Back

PPC shield report lack of cybersecurity in the UK, resulting in £5.7 mn loss

By Joy Dumasia

July 28, 2021

Share

cybersecurityThe new study from click fraud prevention experts PPC Shield indicates that malicious hacking, fraudulent use of social media accounts and email scams are the most common form of cybercrime so far this year – accounting for 43% of all reported incidents since 1st January. Also in the high-ranking categories are reports of malware/viruses, personal hacking and extortion.

Data compiled from the National Fraud Intelligence Bureau indicates that those under 40 reported the most incidents this year, at a total of 5,000. This suggests that scammers and hackers are predominantly targeting younger, more tech-savvy generations. Though cybercrime against corporate bodies only accounts for 10% of the UK’s reported offences, their financial losses of £1.9M accounts for a third of the total figure.

In all cybercrime cases that resulted in financial loss, one in three individuals discovered the offence through communications from their bank, building society, or other financial institutions.

British people and businesses have suffered £5.7m from a reported 14,883 cybercrime incidents since the start of the year. 

Including non-cyber assisted fraud, the UK has logged 253,736 reports that equate to total financial losses of £1.2bn this year.

A spokesperson for PPC Shield comments: “With the internet such an essential part of our daily lives, taking care online and using robust security measures are of utmost importance. Always be aware of what you are clicking on, and be especially wary of phishing sites and emails sent from companies or individuals that you are not familiar with.”

The analysis was conducted by PPC Shield, which enables brands and businesses to optimize their online ad campaigns by filtering out and blocking fraudulent clicks to ensure an advertising budget is not wasted.

Previous Article

July 28, 2021

DivideBuy releases merchant guide as demand for interest-free credit rises

Read More
Next Article

July 28, 2021

Clara raises investment from DIFC, sets up shop in Dubai

Read More








IBSi Daily News Analysis

Web3, Indian market

April 16, 2024

Explosive growth in Web3: UAE and MENA region poised to lead crypto, DeFi, and Metaverse revolution

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 05, 2024

First State Bank taps Jack Henry to boost banking experience for retail and commercial customers

Read More

April 01, 2024

GFT Technologies appoints Marco Santos to Group CEO

Read More

March 27, 2024

Vilja integrates Mast’s mortgage origination solutions into platform

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023