SME CYBER INSIGHTS: Monday 26 May 2025 – Today’s SME Cybersecurity News & Intel

3). IDENTITY THEFT & Guarding Against Identity Theft – CyberKPI: Identity Theft refers to the act of stealing personal information to commit fraud, impacting both individuals and businesses. In the UK, it is estimated that identity fraud costs businesses approximately £2.7 billion annually, a staggering figure that highlights the vulnerability of Small Businesses in particular. These smaller enterprises often lack the robust cybersecurity measures that larger corporations might possess, making them easier targets for identity thieves. Alarmingly, only 13% of fraud cases are reported to the relevant authorities, indicating a significant level of underreporting and a potential lack of awareness regarding the risks involved. Businesses are 67% more likely to experience a cyber incident than a physical theft, underscoring the importance of digital security in today’s business environment …