Know your cyber and fraud risks

You’re invited to our upcoming breakfast seminar

The dramatic rise in fraud and cybercrime is showing no signs of slowing down.  Although the true annual cost of fraud to the UK economy is difficult to quantify, recent surveys have estimated it to be around £190bn, with private sector losses making up around 70 per cent of that figure.

UNW, Barclays Bank, TSG and Sophos (IT security) are pleased to invite you to join us for breakfast as we explore how you can stay safe online, minimise financial loss and business disruption, and increasingly important - stay out of the press, particularly as the cyber criminals’ tricks and methods become more sophisticated.

Andrew Dixon, Digital Channel Manager at Barclays, will present real life examples of businesses that have become victim to fraud.  You'll also hear from our Chief Technology Officer Paul Burns and security software provider Sophos, who will explore the benefits of building and maintaining solid cyber security foundations.

Agenda

  • Introductions
  • Cyber security overview
  • High-level insight and detail on the state of the threat landscape
  • Due diligence
  • Protecting your finances

What is cyber security?

Cyber security comprises of technologies and processes designed to protect your business data from cyber-attacks. If your cyber security is well-planned and effective, it’ll reduce the risk of cyber-attacks you and your employees could face.   

In the UK one of the most serious cyber-attacks took place in May 2017, when WannaCry Ransomware hit the NHS and businesses of all sizes across the globe. The attack was classed as a category 2 incident as there was no risk to life however, if it had taken down the NHS this could have been very different. The Head of the National Cyber Security Centre said, “another major cyber-attack in the UK is a case of when, not if.”

What are the consequences of a cyber-attack?

They will disrupt and cause financial and reputational damage to your business. An example would be the 2017 Petya attack on global shipping company Maersk. Whilst Maersk stresses that the business hasn’t lost customers because of this cyber-attack – which is unlikely due to the reputational damage associated with data breaches – it has estimated revenue losses of £234 million from its two weeks of downtime. Research into high-profile data breaches, unanimously showed that businesses suffer an immediate drop in customer sentiment. TalkTalk lost over 100,000 customers following its data breach, indicating the loss of trust for thousands of customers.

A cyber-attack can cost a UK business upwards of £850,000 and according to new research cyber security breaches overall cost British businesses £29.1bn in 2016, after an estimated 2.9m firms became victims of cybercrime.

This video explains how Sophos Synchronised Security works by connecting the endpoints to the firewall to communicate information on overall security status, individual endpoints and current threats. https://youtu.be/DeeKumt9BaE

Please note that there are limited parking facilities at Citygate, however nearby parking is available at the following car parks:

St James' Park - Car park - NUFC Stadium, Barrack Road, NE4 5AY - Pay and Display, Multi-Storey (545 Spaces)

Grainger Town - Car park - Waterloo Square, NE1 4DP - Pay and Display, Multi-Storey (401 Spaces)St James' Park Metro - Car park - St James Metro, NE1 4SG - Pay and Display (74 Spaces)

The Gate - Car park - Stowell Street, NE1 4XQ - Pay and Display, Multi-Storey (250 Spaces)

 

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