Security Software and Fraud Prevention experts, VaultConnect have teamed up with Risk Management and Insurance brokers, Riskworks to help business leaders better understand their exposure and how to reduce the total cost of fraud and cyber attack.
The Cyber Loss Prevention Forum will bring together experts in fraud prevention, risk management, cyber security, the legal sector and employee management. It will focus on helping business owners and directors to make informed decisions to reduce risk, prevent loss and protect their business.
Almost half of UK businesses suffered a cyber attack or security breach in the last financial year according to the Cyber Security Breaches Survey 2018(1). The UK’s 5.4 million small businesses are collectively attacked more than seven million times a year. This costs the UK economy a staggering £5.26bn, according to a survey carried out by the Federation of Small Businesses(2).
Calling upon the network of professionals they work with to help their clients as well as their own expertise, Riskworks and VaultConnect will host a series of webinars and publish guides and advice. The Forum’s aim is to deliver actionable insights and pragmatic, non-technical information to help businesses to reduce the total cost of cyber security and fraud prevention.
Jonathan Davies, Cyber Risk Specialist at RiskWorks says:
“There’s a growing awareness of cyber threat, but a lot of businesses don’t realise just how much an incident can cost. The impact can stretch far further than a cash loss or a systems outage. This can lead to firms being over exposed and under-protected”.
Richard Higginbotham, Product and Professional Services Director at VaultConnect agrees there is a lack of understanding.
“For many business owners and directors, cyber-security is something dealt with by things like firewalls and anti-virus scans managed by their IT department or external provider. The reality is that cyber criminals target weaknesses in process and procedure, meaning that staff and their day-to-day activities create the risks”
Despite over two-thirds of businesses investing in Cyber Security measures, the frequency and scale of loss continues to rise.
The first Cyber Loss Prevention Forum webinar will run 11 December 2018 – where the hosts will be joined by the North West Regional Organised Crime Unit. The online, free to attend event will discuss the common threats, the measures that businesses should ensure they have in place and the hidden costs of a cyber breach. Businesses wishing to attend can book their place at www.vaultconnect.co.uk/CyberForum-Webinar-Dec18.
“It’s our aim to demystify cyber threats and fraud prevention for the business person” says Richard. “If cyber loss prevention receives the same management attention as cost control, margin improvement or sales growth then it follows that day-to-day processes and staff behaviour will adapt to emerging threats much faster and more effectively”.
Jonathan adds
“Successful businesses thrive on their ability to balance risk and opportunity. By being better informed about risks and their options to manage them effectively, business leaders are more able to make better decisions”.
The First Cyber Loss Prevention Forum webinar will run on 11 December 2018 – book your place here>
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About RiskWorks:
Riskworks is an independent Insurance Broker and Risk Management company based in Wilmslow, Cheshire providing a range of insurance and risk management services to companies irrespective of size. They work in partnership with companies to fully understand their business operations making us better equipped to identify the potential risk issues.
About VaultConnect:
VaultConnect protects clients’ people, data and confidential information. Built to the highest security standards, it provides a secure online vault where documents and communications can be exchanged without exposing them to the security risks of email. Simple and intuitive, it enables Accounting Firms, Lawyers, HR Consultants and Small Health Practices to increase their productivity, protect their clients and reduce their exposure to cyber fraud.
