Cyber-attacks and IT hacks cost Leeds economy £57m in 2016

In 2016, thousands of businesses based in Leeds fell victim to significant IT hacks, according to new study carried out by office technology specialists, Altodigital.

Altodigital’s study, which is aimed to better understand the impact of security breaches on UK business, has revealed that firms are seriously compromising their confidential data, and unknowingly committing security violations because of a lack of knowledge of their IT systems and document security.

The study findings revealed that almost two thirds (62%) of Leeds-based businesses were targeted by hackers in the last 12 months, costing the local economy £57m.

When analysing Leeds’ most common mistakes when it comes to security breaches, the study revealed that up to 40% of companies don’t have a firewall, 54% of firms fail to change old passwords and 76% aren’t protecting data stored on printers or photocopiers at all.

The study also revealed the primary reason for IT hacks on Leeds’ businesses in 2016 was phishing emails, when fraudsters attempt to obtain sensitive information for malicious reasons.

13% of those questioned have also experienced a hack via their telecoms systems, with the most common methods being via remote voicemail access (43%), remote programming (52%) and IP phones (47%).

When it comes to scanning or photocopying documents, 52% of Leeds’ businesses admit to regularly processing highly confidential documents such as birth certificates (42%), client confidential documents (29%) and company insurance documents (21%), yet 72% are unaware that a photocopier will store every single document that it scans.

When asked about investing in a sophisticated security strategy, 56% of responding companies said it’s too expensive, 62% stated that it’s too time consuming and 62% also believe it’s too confusing.

However, only 27% of UK employees admitted that there’s a lack of concern at management level to invest in a reliable security infrastructure. Furthermore, the study found that 81% of IT directors revealed they always wipe their internal hard drive before getting rid of odl printers.

Alistair Millar, marketing manager at Altodigital, said: “Although UK businesses still have a long way to go in terms of security in the office, especially concerning simple elements like firewalls and changing passwords, it’s very positive to see that the amount of hacks has decreased significantly and a huge majority of UK IT directors always wipe their internal hard drives before disposing of them.

“We hope that businesses will continue to improve their office tech security, through simple precautions such as changing passwords, password protecting data and installing a simple security system so in another four years, the results will be even more positive!”

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