UK businesses face security risks and threats as cybercrime rises

By Puja Sharma

New research from secure communications specialists Beyond Encryption reveals Brits are unknowingly putting their personal data at risk in emails. 43% of adults have shared personal data, including their address, and bank account, over email in the last year, with “tech-savvy” Gen Z is twice as likely to share these details as Baby Boomers.

Personal data is extremely valuable to would-be hackers and cyber criminals that can use this information to steal an individual’s digital identity. Indeed 39% of UK businesses identified cyber-attacks in 2022 and the NFIB reported that cybercrimes are on the rise.

While almost half (47%) of Brits shared their home addresses over email, 30% had shared bank account details and over a quarter shared their passport details (28%), driving licence (27%) and national insurance numbers (25%). 9% had even shared their medical records.

According to Beyond Encryption’s research, a third (32%) of Gen Z had intentionally sent such information over email in the past four weeks in comparison to only 7% of baby boomers. Gen Z is also almost seven times more likely than baby boomers to have accidentally shared personal data with the wrong person. According to the ICO, this is the cybersecurity incident type making up 15% of total incidents reported in 2022, highlighting the significant cybersecurity threat Gen Z is posing.

Worryingly almost three-quarters (73%) of consumers have been asked by a professional services provider to share personal data over email. Health professionals were most often said to put consumers’ data most at risk followed by financial advisors, estate agents and even lawyers who had requested data from 16% of those surveyed.

This data raises concerns as to how businesses and professional services are protecting customer data and highlights a significant level of security risk. The ICO has put the onus on businesses to encrypt outbound messages where sensitive information is sent and discourage practices that put their client’s data at risk.

As businesses continue to look to digital transformation strategies and attempt to keep up with consumer demand for seamless user experience, secure and efficient digital communications are becoming increasingly important. Email (39%) was revealed to be consumers’ top communication preference from a business they have a pre-existing relationship with. It was found to be over twice as popular as an online portal (16%) and three times as popular as post (13%).

Despite these actions, 85% of UK adults reported that they take care to protect themselves from cybersecurity threats with 65% saying that they can spot phishing scams. These findings may therefore stem from the fact that 27% of consumers think email is protected and secure. This is not the case – cyber criminals don’t require access to a user’s email account to gain access to their emails. The networks used to transmit messages and the servers that hold emails are not natively secure and are points of access for cybercriminals.

Paul Holland, CEO at Beyond Encryption said: “Businesses find themselves under unique pressures, with cyber threats increasing in complexity and number each year and consumers demanding instant access to services and a seamless user experience.

“However, this research has revealed clear vulnerabilities and threats posed to businesses across the UK. It’s vital that businesses put the tools and knowledge in place to protect client data whilst providing secure and efficient customer communications.”

Key Trends:

• Cybercrime is on the rise with 39% of businesses identifying attacks in 2022
• Yet, almost half of Brits admit to having sent their home address, passport or driving licence over email
• Three-quarters of consumers have been asked by businesses to send these details over email
• 85% of UK adults reported that they take care to protect themselves from cybersecurity threats with 65% saying that they can spot phishing scams.