Email and Social Media hacks cost businesses £3.8 Million in the last 12 months

By The North West Cyber Resilience Centre

Unsecured social media and email accounts with organisations, such as limited companies, sole traders and charities, reported losing £3.8 million to these crimes to hackers between February 2020 and February 2021.

Alongside The City of London Police, the Cyber Resilience Centre wants to reaffirm the message for you to secure your social media and email accounts. Criminals managed to compromise more than 15,000 accounts in the past year.

The national reporting centre for fraud and cybercrime, Action Fraud received 15,214 reports of email and social media hacking between February 2020 and February 2021 – with 88 per cent of victims being individuals who had their personal accounts compromised by criminals. 23% of victims were aged between 20 and 29.

For organisations, such as limited companies, sole traders and charities, there were significantly fewer reports (1,741 reports of hacking), they reported loses of £3.8 million to these crimes compared to the £283,500 lost by individual victims.


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