With the increase of remote working, IT systems have become more vulnerable and cyber-related crimes have been on the rise, according to the latest figures from the National Fraud Intelligence Bureau.
The data reveals that between January and October 2021, around 24,000 cases of cybercrime were reported, which amount to reported losses of more than £11m. Cases range from incidents of hacking, computer viruses, malware and spyware.
Paul Offley, compliance officer at The Guild of Property Professionals, said: “Cybercrime is more prevalent than ever before, and given the fact that agents have a considerable amount of sensitive data they hold, it is vital that all possible precautions are taken to avoid a potential incident.
“If large corporations are vulnerable to being infiltrated, how much more susceptible are small businesses such as an independent agent, who may possibly have less robust cyber defences.
“As a result of higher levels of cyber-criminal activity, there has been an increase in the cyber insurance premiums, along…
