Brexit fuelling an environment for fraud

A recent Fraud Barometer, highlighting internal and external threats facing SME businesses, has show that the Brexit vote has created "the perfect ecosystem" for fraud in the UK.

According to the report, the current economic uncertainty and volatility is creating an environment where fraudsters can feed upon people concerned about their businesses and futures and looking for new ways of making money, often leaving them dealing with individuals they have not previously known and thereby enabling crime to flourish. Lack of investment in IT by less cyber-sayvy SMEs is also making them more susceptible to hackers and other forms of cyber crime.

Whilst businesses can protect themselves with robust internal controls and employee screening, IT security is a collective responsibility and it is essential that SMEs take the necessary steps to protect themselves against fraud and cyber attacks.

If you have any concerns relating to this matter, please contact Steve Govey or your usual Beavis Morgan Partner who will discuss your individual situation and refer you to the right adviser to assist you and your business.