Cybercrime set for record levels

Dealers have been warned to prepare for record levels of cybercrime this year, as the cost-of-living crisis deepens.

Automotive technology firm Mad Devs has encouraged them to work closely with their suppliers to ensure that security measures are in place and followed.

This warning comes after a recent study by security experts CyberEdge found that in the UK, 81.4% of organisations had experienced at least one cyber-attack in the previous year. This is up from 71.1% the year before that.

The most common threat was phishing attempts, which were experienced by 83% of firms reporting breaches.

David Boyce, CEO of Mad Devs, said: “The cost-of-living crisis is driving a rise in cyber attacks on UK businesses. Dealers face a myriad of dangers, with ransomware attacks, data breaches, and online fraud all having the potential to impact operations significantly. We advise the industry to act by contacting their supply chain partners to assess what security measures they have in place and understand what steps are being taken to constantly enhance security.”

He added: “With the challenges of rising business costs, there is always the temptation to find cost savings in cyber security. But cutting corners in this area is a false economy and could have far-reaching implications for the viability of the business.”