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Comments from Fujitsu - Fraud costs UK up to £193bn

May 2016 by Rob Norris, Director of Enterprise

Following the news that fraud costs the UK up to £193bn per year, please see below comments from Rob Norris, Director of Enterprise & Cyber Security in EMEIA at Fujitsu.

“The fact that the cost of fraud in the UK could be as high as £193bn is no surprise. You just need to look at the amount of companies being hit by attacks to see the growth of fraud and malicious intent. Criminals seek money and companies have it – it’s as simple as that.

“To combat this growing risk, it’s vital both consumers and organisations take a proactive approach when it comes to security. Organisations need to focus on the integration of threat intelligence and other information sources to provide the context necessary to deal with today’s advanced cyber criminals. There must also be a clear and well-rehearsed crisis management plan for a breach, addressing internal and external communication. Whereas consumers need to ensure they use different passwords for different applications and are aware of the security risks when using payment information. As the number of these threats continue to increase exponentially, no businesses nor consumer can afford for cyber-security not to be their number one priority.”


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