UK Finance has issued a warning that many of the latest scams perpetrated by cyber criminals are targeting small and medium-sized enterprises (SMEs) who have staff working from home.

The latest research carried out by this trade firm reveals that a total of £59.2 million was lost by SMEs to cybercrime during the opening half of last year, which marks a 35% rise. Now, UK Finance has urged these companies to be aware that criminals are seeking to exploit situations where SMEs have members of staff working away from the main office.

One example of the sort of scam that it is referring to sees a cybercriminal contact an employee who is working at home and pretend to be a supplier, manager or chief executive from their company. The scammer then tries to persuade the staff member to provide sensitive data like bank account information or to make an emergency payment.

One way that SMEs can reduce the risk of this is by handing over the majority of financial matters to a trusted outside source, such as reputable accountants in Goole or wherever they are based.

The scale of the problem is revealed in the UK Finance study, which found that emails or texts of this sort from cyber criminals had been received by 80% of SMEs. Scam telephone calls had been received by 64% of them.

UK Finance is starting a campaign called ‘Take Five to Stop Fraud’, urging SMEs to think carefully before responding to contact of this kind.