Cyber Crime Main Concern for UK Businesses

According to the latest EY Global Fraud Survey, cyber-crime is a top fraud concern for all UK businesses.

The research suggests that businesses are more concerned with cyber threats from their own employees than from organised crime.

The survey included in-depth interviews with more than 2,700 executives across 59 countries, including chief financial officers, chief compliance officers, general counsel and heads of internal audit.

Paul Walker, head of forensic technology and discovery services at EY said this might not necessarily indicate mistrust between employers and employees.

He said: "The issue is whether employees take cybercrime as seriously as management do, and the fact that employees are sometimes seen as the weak link."

John Smart, head of EY's fraud investigation said: "The rest of the world is playing catch-up with the UK in recognising cybercrime as a serious threat.

"High-profile cybercrime incidents and a number of government initiatives may have played an important role in ensuring high awareness of this issue among UK business leaders.

"Awareness is just the beginning and business leaders need to ensure robust incident response strategies are in place."

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