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UK firms under cyber attack as criminals target financial data

Simon Quicke

UK businesses are under attack from web criminals motivated by a desire to carry off financial fraud to line their own pockets.

Research from security vendor Check point in conjunction with the Ponemon Institute revealed that British firms were attacked on average 68 times a week with successful attacks costing around £150,000.

The most common forms of launching cybercrime efforts were through denial of service attacks and botnets aiming to get behind defences to steal intellectual property and trade secrets.

For resellers the findings of the Impact of Cybercrime on Business report should spur conversations about the need for more customers to defend themselves against targeted attacks that used a combination of techniques to get to their intended victim.

Although 75% of firms said they had the training and policies in place to fend off targeted attacks that left a significant quarter of the market fumbling in the dark when it came to finding the best method of securing their data.

"Cybercriminals are no longer isolated amateurs. They belong to well-structured organizations, often employing highly-skilled hackers to execute targeted attacks, many of whom receive significant amounts of money depending on the region and nature of the attack," said Tomer Teller, security evangelist and researcher at Check Point Software Technologies.  

"Cybercrime has become a business.  With bot toolkits for hackers selling today for just $500, it gives people insight into how big the problem has become, and the importance of implementing pre-emptive protections to safeguard critical assets," he added.

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