SME Cybersecurity | SMECyberInsights.co.uk - Helping Keep UK SMEs CyberSafe!

Business Cybercrime: A Growing Threat to SMEs

Business Cybercrime is, at its core, the act of misrepresentation—where scammers lie about their identity, services, or intentions to secure an unjust gain or cause financial loss.

In today’s challenging economic environment, Small Businesses (SMEs) are often more focused on innovation, growth, and survival. As a result, vital practices like due diligence, internet security, and risk management may take a back seat, perceived as costly, time-consuming, or bogged down by bureaucracy.

However, this mindset can leave SMEs especially vulnerable to fraud. Many owners and managers may be unaware of the threats their businesses face, exposing them to significant risks.

Best Practices and Immediate Actions After a Cybercrime Incident in Your Small Business (UK)

Action Plan:

1). Identify and Confirm the Cyber Crime …
2). Secure Your Digital Environment …
3). Report the Cyber Crime to Your Providers …
4). Protect Your Identity …
5). Strengthen Your Cybersecurity …

Schedule of Organisations to Report Business Cybercrime in the UK

These organisations are critical points of contact for Businesses affected by Cybercrime in the UK. Reporting to the appropriate agencies quickly will help mitigate the damage and meet legal obligations.

Action Fraud (National Reporting Centre for Fraud & Cybercrime) Action Fraud is the UK’s national reporting centre for Cybercrime and Fraud. All Small Business Cybercrime incidents affecting businesses should be reported here:
Website: Action Fraud
Phone: 0300 123 2040
Online Reporting: Available via their website.

National Cyber Security Centre (NCSC) The NCSC provides guidance on how to handle Cyber incidents and offers resources for Businesses to improve their cybersecurity. While the NCSC does not take direct reports of cybercrime, they offer assistance and preventive measures.
Website: NCSC
Cyber Incident Reporting: Report an Incident

Information Commissioner’s Office (ICO) If personal data is compromised in the cyberattack, businesses must notify the ICO within 72 hours to comply with GDPR requirements. The ICO can assist with assessing the data breach and mitigating risks to data subjects.
Contact:
Website: ICO
Phone: 0303 123 1113
Data Breach Reporting: Report a Breach

Police (If Immediate Threat or Major Impact) For significant cybercrime incidents where there is an immediate threat or high impact (such as large-scale ransomware or financial loss), contacting local law enforcement directly may be necessary.
Emergency Number: 999
Non-Emergency Number: 101

Your Bank/Financial Institution If your business experiences financial fraud or compromised banking details as a result of Cybercrime, immediately contact your bank or financial service provider to freeze accounts, stop payments, and take preventive measures against further losses.
Contact: 159

Cyber Insurance Provider (if applicable) If your Business holds a cyber insurance policy, report the incident to your insurance provider to assess coverage and begin the claims process.
Contact: Refer to your policy documents for your insurance provider’s emergency contact information.