Lloyds Bank and ACUTEC Take on Cybercrime
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Last Updated on 24th January 2022

Lloyds Bank and ACUTEC Take on Cybercrime

Cyber security is making news headlines almost daily. Businesses are at constant risk of their systems being attacked and losing their data, finances and reputation.

On 4th July, ACUTEC were invited by Lloyds Bank to speak to their business clients and inform them of the risks in two workshops. They were joined by Weightmans Solicitors and Arthur J. Gallagher Insurance.

Urfaan Azhar, Infrastructure Manager at ACUTEC, spoke about the possible attacks that businesses face and how to overcome them as well as simulating a live hack. During the hack, the audience watched with horror as an Outlook account was sent a phishing email with a malicious file. The file downloaded key logging software on to the PC and every keystroke could then be viewed from the hacker’s computer.

Chris Roche, Managing Director of ACUTEC stated: ‘We are seeing this every single day and businesses need to understand the risks they are taking by not adopting the appropriate precautions. I hope that by ACUTEC being involved in events like this we can educate people and help protect their businesses.’

The Information Commissioner’s Office is now able to fine organisations that suffer a data breach up to €20 million or 4% of annual global turnover, potentially strangling thousands of businesses. Organisations are now obliged to report breaches within 72 hours to the ICO and must inform any individual whose data has been lost. On top of the fine, businesses would have to pay for contacting those involved, legal advice, emergency PR and forensics as well as actually getting systems back up and running and any loss of finances caused through the actual crime.

At the event Urfaan faced many questions from businesses concerned that the precautions they had in place were no longer adequate and for advice on what to do next. Any businesses who are concerned about their cyber security should take immediate action to ensure that all precautions are in place to protect their futures.