The event which took place in East London took participants through two rooms to try to thwart hackers trying to gain access to participants’ businesses to steal data. In the 60 minute event, tasks were aligned to different security learning objectives. Those who successfully escaped received a handout with the outcomes, further information on security and an escape certificate. Asset Finance Connect’s team which included Edward Peck, CEO; David Betteley, head of content; Eva Lindsay, head of events and Carolina Kelleher, head of events content sadly failed to escape in time but were presented with consolatory escape certificates nonetheless.

“Analysis suggests there was a 30,000% increase in threats last year ranging from ransomware, malware and weaponised websites to phishing emails. The sheer scale of the problem reflects a simple situation: while victims need a 100% success rate of preventing attacks, gangs just need to succeed once.” Says Adam Kobeissi, vice president, consulting expert financial services.

Alongside the recent upturn in cyber threats caused by the war in Ukraine, the steady increase in online-only transactions and staff working from home as a result of changing practice are all factors which are driving the growth in cyber crime.

“It is not only customers that are being targeted, with gangs also infiltrating institutions themselves to access data and carry out new attacks. Earlier this year, a bank employee was jailed after abusing his position to obtain customers’ security details, which he then passed to other members of his gang so they could try to gain access to the accounts of genuine bank customers - a scheme which netted more than £1.2 million.

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“In each of these examples, it is not a direct attack on IT systems or company websites, but a frontline attack on individuals by trying to exploit their trust in digital systems and brands. The key goal in each of these attack being to access “personally identifiable information”, allowing criminals to breach account security measures and in turn providing them with direct access to funds or locking users out of systems whilst holding them to ransom for financial return.”

“With companies under a new wave of frontline attacks, which has expanded due to the new ways of working, we believe education is still a critical step towards helping users recognise threats and become the 1st line of defence against cybercrime.” Kobeissi told Asset Finance Connect.

Auto and Equipment finance organisations who are keen to reduce their vulnerability to cyber-attack should contact Adam Kobeissi to access the extensive resources which CGI provide, which includes over 1200 cyber security specialists worldwide. CGI is a leader in information security and helped develop SO/IEC 27002, the global standard used to establish information security.

There is also still time to try out CGI’s cyber room as it travels round the UK. See https://www.cgi.com/uk/en-gb/cyberescape for more details.