Family Business: Cybercrime is a major threat to small enterprises

Hacking, phishing, online scams, and other variations of cybercrime are thought to be the most prevalent financial crimes in Ireland, experts warn small business owners

Cyber-security remains a priority for many Irish businesses, with almost half planning to increase spending on cyber-security controls, according to recent studies. Photo: iStock

Cybercrime is the number one threat when it comes to financial crime in Ireland, with fraud and tax evasion taking joint second place.

Hacking, phishing, online scams, and other variations of cybercrime are thought to be the most prevalent financial crimes in Ireland, as found in a new survey by the Compliance Institute, which polled 230 compliance professionals working primarily in Irish financial services organisations nationwide.