Cyber Crime A Real Fear For UK Transport Businesses

Over a fifth of small and medium-sized transport firms in the UK have suffered an online security breach in the last 12 months, reveals a recent survey.

60% of SME transport business owners polled in the Close Brothers Business Barometer, a quarterly poll of SME owners and senior management that gauges sentiment on a number of issues, described themselves as being very concerned about the impact this type of crime could have on their business.

John Fawcett, Managing Director of the Transport Division at Close Brothers Asset Finance said: “Cyber crime, including data corruption, hacking and virus infections, can prove to be a major barrier to growth for small transport firms. In fact, the Department for Business, Innovation & Skills estimates that this kind of attack costs the targeted company an average of £35,000 to £65,000.

“Clearly, this money could be much better spent investing in people, processes and equipment for growth. There could also be a wider impact on the economy, as smaller firms may decide against embracing new technology and trading online due to fears about cyber security,” he added.

While 44% of transport firms surveyed said that protection against online crime was a high priority and that they have invested in this area, a quarter admitted that although they believe it to be an important issue, they haven’t yet looked into it.

John Fawcett said: “It’s imperative that businesses in the transport sector review any potential vulnerabilities and take steps to address them.

“No business would leave their office unlocked all night, and they need to take online security just as seriously. Smaller businesses shouldn’t allow themselves to become easy targets thanks to lacklustre prevention policies.”