Octree Observer

  • Cyber crime costs small firms nearly £19bn a year

    by : Octree

    So according to research carried out by the Federation of Small Businesses (FSB) small businesses across the UK could be losing billions of pounds every year to cyber criminals and fraud, with the average small firm facing a near £4,000 cost.

    A new report from the Federation of Small Businesses said cyber crime and fraud cost its 200,000 members around £800m a year, or £3,926 each on average. Government figures estimate that there are 4.8 million small firms across the country. This would mean a total cost of more than £18.8bn based on the FSB’s average.

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