Crime data from Action Fraud, (compiled by IT Support and Solutions, Acora One) has highlighted the worrying impact cyber-crime is now having on the Welsh economy.
6,000 reports of cyber-enabled crime in Wales were made between June 2022 – May 2023. This resulted in £24.6M of reported financial losses with £3.2k being the average reported financial loss per report of cyber-enabled crime in the country overall.
And it’s not just a concerning outlook for Wales. According to the Cyber Security Breaches survey 2024, 50% of UK businesses reported cyber-attacks or security breaches, an increase of 18% on the previous year. And yet only 31% of businesses and 26% of charities have undertaken a cyber risk assessment that would highlight gaps in their policies, procedures as well as wider vulnerabilities.
The Cyber Resilience Centre for Wales (WCRC) recognises that Welsh organisations need support, so in response to this, launched a campaign last year which has seen them run a serious of free events for SMEs where they get the chance to experience first-hand the impact of a cyber-attack. These cyber security exercises are very useful simulations of specific cyber-attack scenarios that enable businesses to gain valuable insights into an actual response to a real-life breach attack.
The WCRC’s latest Incident Response Event is in partnership with the Cyber Innovation Hub (CIH) and offers attendees the opportunity to experience a realistic cyber-attack situation designed to help them prepare for a potential incident on their own business.
The session also includes a panel discussion where a host of industry professionals from Bridewell, Capital Law, Thomas Carroll , Police and the Information Commissioner's Office (ICO) will talk through each stage of the attack and its impact, identifying key decisions and also the support available in these circumstances. All of which will be delivered in easy-to-understand terminology.
Andy Dodge, BSc(Hons), MA(Ed.), PGCE, FHEA, Partnerships and Business Manager for the Cyber Innovation Hub, says: “Cyber security incidents (such as a data breach or ransomware) can have a huge impact on an organisation in terms of cost, productivity, reputation and loss of customers. Being prepared to detect and quickly respond to incidents will prevent attackers from inflicting further damage and can reduce the financial and operational impact.
“CIH is delighted to be working in partnership with WCRC hosting this Cyber Incident Response Event which will allow organisations to plan their response to a cyber incident and raise awareness of the relevant cyber security regulations that boards need to be conscious of within the UK.”
WCRC Director, Detective Superintendent Paul Peters, adds: “Cybercrime is on the rise, with more and more organisations experiencing attacks that are impacting on their ability to do business. These events are designed for decision-makers to navigate real-world challenges in a secure, controlled environment. The event provides the opportunity to gain insights from a panel of experts from incident response, insurance, legal, law enforcement and ICO covering the critical issues to be addressed and importantly the support that is available.”
The event is taking place on Thursday 30 January running from 9am until 1.30pm at sbarc|spark, Maindy Rd, Cardiff.
To book your place simply click on the link below.
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