set_of_vivid_cute_chameleon_vector_521437                        Email:                        T: 01268 566743 M: 07958 475392


Can You


Sol joins the fight against fraudsters

FORMER England football star Sol Campbell has joined the fight against small business fraud - after revealing that he fell victim himself.A quarter of small and medium-sized businesses have been the victim of fraud in the past, according to YouGov research for banking giant Barclays. 

  Furthermore, the average cost of a successful fraud attempt against firms is just shy of £35,000 – and in two-thirds of cases, the businesses had to cover the costs themselves.

  At a recent anti-fraud workshop, Campbell – a former Spurs, Arsenal and England footballing legend – gave a number of small businesses his tips to stay one step ahead of the fraudsters.

  As part of a drive to arm SMEs with the knowledge to prevent such attacks happening to them, Barclays put on 3,000 workshops last year to warn of the dangers. The event at the Stratford Olympic Park heard how Sol was a victim of fraud after a scammer used underhand tactics.

  Sol, who alongside wife Fiona runs bespoke furniture business FBC London, said the fraudster targeted a new personal assistant who had only been working for the pair for a week who subsequently clicked on a phishing e-mail link.

  He said: "With a rise in online crime, it's more important than ever that businesses keep an eye on the ball when it comes to cyber security.

  "In business as in football, you have to be strong, versatile and flexible - and as a defender, you need to trust your natural instincts. If an email or call sounds fake, check it.'

  He highlighted that as a business expands and more staff are hired, the bigger the threat of fraud is. This means more should be done by bosses to educate those within the firm to make sure they do not make a mistake and let the fraudsters in.It is one of the reasons that he teamed up with Barclays. 

  He added: "Managers should invest time letting staff know about the dangers of scams. As an owner of a small business that has fallen foul of cyber criminals, I'm particularly keen to raise awareness and show fraudsters the red card.

  The point Sol makes about the size of a company was also highlighted in the masterclass by Barclays 'Digital Eagle' Joe Cooksey. He said that a large number of successful SME fraud attempts are made via new, inexperienced staff – or deputies, not used to the pressure.

  The YouGov data suggests nearly half of SMEs have been targeted by fraudsters. The research reveals that only 54 per cent of victims report fraud to the police, meaning the true scale of the problem may be under-reported.

  Barclays says it has invested more than £18million during the past 24 months on its national Digisafe campaign, which has already engaged five million people.It claims that overall, it has prevented £857million of potential fraud and scams in the last year.  It hosted webinars attended by almost 7,000 SMEs in 2017 and aims to raise that figure to 30,000 this year as battles the fraudsters.

    Data for last year shows that '123456' continued to be the most used password, with 'football' coming in at number nine.

  It is estimated that the 500 most popular passwords make up 70 per cent of all passwords. Furthermore, data suggests that for every one million phishing e-mails sent out, 23 are successful. But SMEs are more likely to be a targeted via spear phishing, which is more personalised and in turn, fall victim.