London businesses are facing more security incidents—and are paying more in the aftermath of them.
A new report from the London Chamber of Commerce and Industry (LCCI) argues that despite efforts from government and law enforcement, London firms – particularly small and medium-sized enterprises (SMEs) – are still largely oblivious to the ever-more sophisticated methods cyber-criminals are using to steal valuable information.
The report also found that more than 50% of London firms said they have experienced a cyber-breach; however, cybercrime numbers and costs could be far higher due to widespread under-reporting of online fraud.
