Fraud attacks are becoming more frequent, say the region's SMEs

Amanda White of HSBC
Amanda White of HSBC
Have your say

Two thirds of Yorkshire-based small and medium-sized enterprises (SMEs) believe that fraud attacks are becoming more frequent, according to new HSBC UK research.

Read more

>How Lloyds Bank secured key acquisition
>Plumbing giant provides update for City
The study of 2,000 British businesses found that 66 per cent of companies from the region believed fraud attacks were increasing in regularity, with 78 per cent believing them to be growing in sophistication.

Despite this, more than a third (36 per cent) have failed to put any fraud prevention measures in place.

HSBC UK head of commercial banking, Amanda Murphy, said: “It’s clear that fraud is a mounting issue for more companies across Yorkshire and the Humber; not only are attacks becoming increasingly regular, they are also growing in sophistication and are very difficult for companies to detect.

“Protecting our customers is an absolute priority for HSBC UK and we’re working hard with our customers to raise awareness of the types of fraud and the latest scams, but it’s vital that businesses of all sizes are vigilant against this threat.

“Complacency is the fraudster’s friend and we’d urge companies to ensure they are doing all they can to combat scammers. It’s also critical that the victims of fraud report their circumstances to the police to bring these criminals to justice.”

A fifth of companies from Yorkshire and the Humber who were surveyed (20 per cent) said they had been a victim of fraud or attempted fraud over the past 12 months.