Around two-thirds (61%) of investors are concerned about cyber crime impacting them personally, whilst three-quarters (75%) believe that the threat from cyber crime has increased during Covid-19, according to research commissioned by JM Finn. The findings from over 600 UK investors come at a time of heightened online activity as the health pandemic has pushed most communication to online portals.
Indeed, recent analysis by Google has shown that an estimated 18 million hoax emails are being sent a day as criminals have attempted to take advantage of the pandemic.
The key findings of the survey of UK individuals who self-identified as having investments in stocks, funds, corporate bonds, or a stocks and shares ISA were:
- 61% of investors are concerned or very concerned about cyber crime impacting them personally
- 55% Individuals aged between 18-44 were concerned about cyber crime in comparison to 63% of individuals aged 45+
- Men are more likely than women to be less concerned around cyber crime
- Over one-in-ten individuals are unsure how concerned they are –potentially indicating a lack of awareness around cyber crime
- 75% of investors strongly agree or agree that we are at a higher risk of cyber crime following Covid-19
- Individuals aged between 18-44 think we are at a higher risk of cyber crime due to Covid-19 in comparison to individuals aged 45+
As part of a number of measures, the firm has helped to educate and inform clients with a cyber crime awareness guide, a 30-page guide addressing the very real concerns of online users, offering tips and advice for staying safe.
JM Finn has also added to the functionality of its award-winning client portal to enable investors to report fraud quickly and securely at the touch of a button. Users can now easily flag if they believe they have been a victim of fraud or if their email account has been compromised which could leave them exposed to a phishing attack, and each client’s designated investment manager can investigate and act accordingly.
The new fraud alert comes on the back of previous efforts by JM Finn to protect their client’s data including the development of a Personal Library function, allowing clients to adopt a paperless option and the addition of a Secure Messaging function. The latter allows clients to send and receive important documents via the portal rather than rely on email.