PWC’S GLOBAL STATE OF INFORMATION SECURITY REPORT: FINANCIAL CRIME LEAD CONSULTANT AT ACI WORLDWIDE COMMENTS

Andy Morris, Financial Crime Lead Consultant at ACI Worldwide

“These findings might be surprising but evidence suggests that many companies continue to underestimate the impact potential cyber-attacks might have on their business.

“The London of Chamber of Commerce recently published a study which revealed that small businesses in particular are in denial when it comes to cyber threats. Many of them are unaware of the dangers and the ‘cyber rhetoric’ and perceived the issue as something too complex and complicated and not relevant to them or their business.

“Yet over half of London businesses have already been impacted by cyber threats. Victims typically failed to think through the consequences that having inadequate or outdated security could have on their business. But – if you leave your floor door open long enough someone will walk in and help themselves!

“Cybercrimes are a growing threat in the UK and worldwide and the study rightly points out that government should be doing more, both in terms of educating the wider public, how cases are reported and when it comes to enforcement how those that perpetrate cybercrime are brought to justice and prosecuted.”