Accounting Cyber-crime

The vulnerability of organizations to cyber-crime has emanated from the level of awareness of its employees on potential threats. Increasing awareness within these organizations would enable better management of cyber-crime threats. The organization improves not only the awareness levels of its employees but also the customers. A recent incident leading to awareness training for consumers includes a call to a customer that led to losing £134,000, which was the lifetime savings of a couple (Brignall, 2016). Barclays bank understands the essence of awareness, focusing on people as the first line of defense against such attacks. Malware and phishing are among the popular forms of attack. Barclays has established grounds to train its employees in this area and improve their contribution to reducing cybercrime (Barclays, 2021). Secondly, the companies may also leverage existing and trusted resources. Such an approach includes regularly scaling, building, and improving existing resources to keep them updated. Third, building a framework of economic nature may also support the process. The framework may include ensuring the existing systems are well developed and invested in to prevent possible cybercrime cases. Fourth, working with invested partners may also help in reducing cyber-crime threats. For instance, Barclays bank has implemented avenues to safeguard SMEs from cybercrime as a form of partnership. The UK giant launched reliable campaigns that SMEs may use to identify and prevent cybercrime (Cyber Security Intelligence, 2018). Such an approach helped Barclays build a strong reputation with its customers, adding to their awareness levels. Lastly, having a response plan as a contingency measure may also help prevent possible cybercrime issues.