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

By Joy Dumasia

The 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.