We are now midway through Q2 2025 which seems a little hard to believe but with the 24-25 tax year behind us and longer days, we are no doubt all trying to make the most of the better (less rainy?) weather! That said, in the world of technology, you can never take an eye off the ball, especially when it comes to cyber security.
VAT Phishing
Completing tax and VAT returns can be a little stressful, especially if you have left it late and are consequently in a rush! The hackers seem to have been taking advantage of this with an HMRC VAT return phishing scam with emails quoting the company name in the subject line and indicating that your VAT return needs checking… the emails contain a link to a website imitating the HMRC login portal, asking you to log in and provide various details. If, like us, you have received one of these you should do the following:
- Do NOT click on any links nor provide any information
- Report the email to the NCSC by forwarding it to: [email protected]
- Delete all copies of the email (inbox and sent items)
Cost-benefit analysis
We know we talk a lot about cyber security, but with good reason. However, with everything else on your plate, taking the measures needed can sometimes slip to the bottom of your to do list. Whilst there is inevitably some investment required to protect your IT infrastructure e.g. scanning software, password managers, training and insurance, what are the costs of NOT doing anything to protect yourself? According to this CommsBusiness article, a Vodafone Business report has found that the average cost of a cyber-attack for small business is £3,398. This might not sound too bad but it’s worth putting some context around this… this is an average cost for a single incident and doesn’t take into account potential reputational or regulatory costs. Indeed, 35% of those surveyed had experienced a cyber incident in 2024 with 28% suffering between 1 and 5 attempted attacks and 6% reporting that they had been targeted up to 10 times in a year. The moral of the story is, it’s better to invest to protect yourself.
