Barclays Business Club advises Channel Island businesses about cyber security

Cyber fraud can seem difficult to combat with social engineering being one of the biggest threats to local businesses according to experts speaking at events hosted by Barclays in Guernsey and Jersey.

Local clients attended the presentations where Barclays Business Digital Eagles and representatives from Guernsey and Jersey police discussed the top cyber threats currently affecting businesses and what steps local SMEs can take to protect their systems and information.

The common types of attack were explained including phishing e-mails which involve a fraudster posing as a legitimate source, sending e-mails which require you to divulge sensitive information and vishing which involves an unsolicited call from fraudsters claiming to be a bank, credit card provider or police asking for confidential information. 

“Businesses’ employees can be a target when it comes to cyber security,” said Barclays Business Digital Eagle and premier relationship manager in Jersey, Keith McGonigle.

“Social engineering relies on human interaction and requires minimal technical knowledge from fraudsters. It often involves tricking people into breaking security procedures and divulging confidential information such as passwords and pin numbers.

“Employees should be made aware of the various different types of threats and ensure they are vigilant to any unusual activity.”

Raising awareness by employee training, backing up data regularly, managing user privileges and changing passwords frequently were all cited as basic activities businesses can implement to help keep their information and systems safe. 

“Businesses should recognise the threat that cybercrime poses,” said Justine Gaudion, head of local markets, offshore and personal and corporate banking at Barclays in Guernsey.

“According to recent surveys 82% of UK firms believe they are too small for a cybercrime attack but 74% of small businesses suffered a security breach of some kind last year.

“Barclays is committed to educating and supporting our clients in Guernsey and Jersey through events such as our Business Club and our Digital Eagles initiative on the risks associated with cyberattacks.

“Barclays’ Digital Driving License is available to anyone and contains useful information and interactive modules on technology that can help individuals gain more confidence when recognising and dealing with cyber threats.”