StormWall experts revealed that at the beginning of Q2 2021 the number of powerful DDoS attacks on online games increased 30 times. The maximum power of attacks at the moment reaches 1 Tbit/s. According to StormWall experts, DDoS attacks were carried out using a new incarnation of the famous Layer7 botnet, which consisted of 25,000 infected IoT devices. The main targets of the cybercriminals were game servers, since they have maximum liquidity to monetize DDoS attacks, hackers can quickly cause large losses and quickly get money through blackmail.
The most powerful DDoS attacks were recorded over UDP. According to the StormWall situational center, the Layer7 botnet can launch powerful, but at the same time fairly primitive attacks. An attacker can only change the length of a packet and fill it with random data; no means of bypassing protection or adapting it to a specific application is provided. However, there is a ready-made protection profile for TeamSpeak3, a popular voice service among gamers.
The new version of the botnet can be bought from cybercriminals for as little as $250 per week and provides access to attacks of up to 1 Tbps. Before purchase, a free test of the attack is offered. There’s also Telegram support for customers.
“New technologies are helping to improve the world, but new cybersecurity threats usually arise with them. Hackers are using new technologies to create more powerful botnets, and the Internet of Things is a charming target for them. IoT devices allow the creation of incredibly powerful botnets. Most IoT devices are practically not protected from hacker attacks and contain serious vulnerabilities. Using a tremendous abundance of unprotected IoT devices, attackers can create powerful botnets and launch massive DDoS attacks.” – Ramil Khantimirov, CEO and co-founder of StormWall.
As value investing has been back in vogue lately, and value has outperformed growth since November 2020, CAMRADATA’s latest whitepaper, Revisiting Value Investing explores the ongoing Value versus Growth debate – and asks if there are signs of a changing tide.
The whitepaper includes insight from guests who attended a virtual roundtable hosted by CAMRADATA in April, from firms including Boston Partners, Hotchkis & Wiley, Royal London Asset Management, Blue Sky Group, PwC, SEI and St James’s Place Wealth Management.
The report highlights that, according to Bank of America, the first quarter of this year marked the biggest rotation into value stocks for 20 years. This followed the longest ever drawdown for value, which also suffered its worst ever calendar year in 2020.
Sean Thompson, Managing Director, CAMRADATA said, “Ongoing fiscal stimulus targeted at cyclical and value areas of the market are set to favour certain value stocks, while other factors such as rising inflation also benefit value stocks over longer duration growth stocks.
“Meanwhile, valuation spreads remain extreme, and the global earnings recovery is largely being led by value sectors. Our panel debated value versus growth and considered if we are witnessing signs of recovery for value investing strategies.”
Data from Boston Partners shows that by the end of 2020, Growth was at its most stretched this century, judged by the P/E ratio of MSCI Growth Index versus MSCI Value Index. Since November, however, market-watchers and practitioners have been pointing to evidence of Value’s return as a rewarded style.
The CAMRADATA roundtable began with an acknowledgement by consultants, fiduciaries and fund selectors that after so many years of Growth’s dominance, many clients remain unprepared for Value’s return.
The panel also discussed growing interest in value investing, the challenges facing value managers, as well as looking at Value via an ESG lens, before considering another classic Value sector – financials.
Managers were asked what clients are not getting by investing in their strategy; and what they meant by Value and also ESG which is growing in importance for clients.
Key takeaway points were:
One panellist kicked off by highlighting that there been some expression of interest in value investing over the last 18 months, but client conversations were more focused on whether the Growth rally would continue.
One investment consultant said the interest in value investments from their clients has been more via credit dislocation strategies.
With attention then turning to financials, a panellist noted that banks generally do better during rising interest rates and improving economic activity. There is a lot of capital trapped in banks, while the Covid-19 loan loss provisions booked in 2020 look unlikely to be realised.
Value investors first get a boost from improved earnings, followed by an improvement in multiples once the market recognises what those improved earnings mean.
When asked what they meant by Value, one panellist said valuation is about what you pay for something versus the cashflows.
Another said value investors purchase stocks trading at a significant discount to their intrinsic value because current earnings are below normal earnings.
But what constitutes “normal”? They said this goes to the heart of the Value investors’ research process; estimating a company’s sustainable earnings level under equilibrium economic conditions.
The panel discussed ESG, with one panellist suggesting that, up until the new Biden administration, North America has generally been behind Europe in embracing ESG criteria. They also noted that ESG data is still underdeveloped and proliferating quickly.
It was suggested that society needs Value investors, with one panellist saying they invest in out-of-favour companies; sometimes due to ESG issues, evaluate management’s ESG improvement plan and develop mileposts to monitor progress against the plan. If they are successful, the company improves and its stock price rises as the mileposts are reached.
Value investing has to be difficult one panellist concluded, as if it wasn’t, everyone would do it and it wouldn’t work anymore. It requires patience – taking the long-term view in short-term markets – humility – learning from your mistakes – and conviction, especially if you are concentrated. They ended by saying they are more optimistic now than they have been for years.
To download the ‘Revisiting Value Investing’ whitepaper click here
The West Midlands Cyber Resilience Centre (WMCRC) is delighted to announce it has joined forces with the Federation of Small Businesses (FSB) in the West Midlands.
The collaboration will see the two organisations working together to help encourage small to medium-sized businesses across the region to be more cyber secure.
The WMCRC brings together the expertise from law enforcement, private sector and academia to offer guidance to organisations across Herefordshire, Shropshire, Telford & Wrekin, Worcestershire, Staffordshire, West Midlands, West Mercia and Warwickshire, in protecting themselves against cybercrime.
It is part of a network of centres being established across the country and provides businesses and organisations with an affordable way to access cyber security services and consultancy to safeguard themselves from cyber-attacks.
Commenting on the relationship, Director of the West Midlands Cyber Resilience Centre, Alison Hurst, said: “We are delighted to have the opportunity to work with the FSB. The organisation and its network will be crucial in assisting us to extend our reach in order to help support businesses across the region.
“The FSB is a resource that helps many small businesses achieve their ambition and we aim to support this further by working in collaboration to maximise the cyber resilience of micro businesses and SMEs within the West Midlands.”
The FSB is the UK’s largest business group with 160,000 members across the country, made up of small business owners and the self-employed. The not-for-profit organisation offers a range of business services including legal protection, health and safety advice, employment protection, insurance services and crisis management. It also provides a variety of networking events and opportunities for its members as well as being a powerful government lobbyist, continually campaigning for better conditions and resources for small firms and individuals.
Hollie Whittles, West Midlands Chair of the Federation of Small Businesses, and an owner of two Telford-based SMEs herself, commented: “Crime against business hurts the wider economy, including in particular small businesses, of which there are 5.9 million in the UK and around 400,000 in the Midlands. They are almost always less able to invest in the cost of the latest IT equipment and security software so can be particularly susceptible to cybercrime.
“This situation is exacerbated by local and national Government-mandated requirements – such as ‘Making Tax Digital’ – which require small businesses to increasingly share their technical and financial data online. In 2019, FSB launched ‘Calling Time on Business Crime’, which highlighted many of the threats facing small businesses.
“We are delighted to see new impetus being given to addressing these issues, so look forward to working closely with the West Midlands Cyber Resilience Centre to raise awareness of the latest threats – and the latest measures that can be taken to counter them.”
The WMCRC offers a range of membership options depending on what level of support businesses need. Core membership is free and provides businesses with access to a range of resources and tools to help them identify risks and vulnerabilities, as well as providing guidance on the steps they can take to increase their levels of protection.
Businesses can find out more information about the WMCRC, how to get involved and sign up to receive e-news at www.wmcrc.co.uk . To keep updated with all the latest WMCRC developments on social, follow @WestMidlandsCRC on Twitter or on LinkedIn.
Research from Vimcar, conducted by Opinion Matters, today reveals a picture of how UK SMEs that own company car vehicles adapted to uncertainty and economic pressure during the Coronavirus lockdowns, what they focused on to ensure their survival and how they see their future roadmap to recovery panning out.
The data reveals that 81%* of UK SME businesses surveyed say they have had to adapt their businesses since March 2020. 2 in 5 (41%) of those that have had to adapt, have done so to protect jobs.
Although just under third of companies polled have had to adapt to stay afloat (30%) and over a third to protect their profitability (38%) since the start of the Coronavirus pandemic, retention of staff remained a focus with 37% of businesses surveyed saying they did so to protect their employees’ mental and physical wellbeing.
A further 36% adapted to meet customer demand, with a quarter of companies surveyed (25%) having to increase their fleet size to meet this, and close to a third of companies polled (29%) relied more on local custom, with businesses in the West Midlands (37%) leading the way with looking closer to home for customers.
Digital driving SME recovery
Of the UK businesses that have had to adapt, making the digital shift has been a driver for SMEs with 41% saying that they had to adopt more technology within the business. Those SMEs who adapted did so across the following areas: increasing their digital presence (39%), increasing the number of cashless payments (38%), relying more on social media (35%), and 30% turning to a digital platform to manage their company vehicles.
As more of the UK has turned to online shopping during this time, investing in ecommerce technology to impact future growth is obvious and businesses in the South West (41%), the North East (38%) and Greater London (35%) are the top three regions committing to that, whereas SMEs in
The North West (28%), the East Midlands (25%) and Scotland (25%) are least likely to be focused on securing online customers. 45% of those surveyed said being more reliant on technology since March 2020 has made their business more efficient and 33% have saved money as a result.
Looking ahead to the roadmap to recovery
However, this evolution does not come without its challenges, and it is no surprise that Coronavirus restrictions rank as the number one obstacle (32%) the businesses surveyed will face over the next 12 months. Brexit regulations (23%), financial challenges (25%), and high standards of customer expectation (24%) are also top reasons for concern. And these worries seem to be the backdrop to SMEs’ outlook when it comes to business growth over the next 12 months with only 30% of businesses surveyed feeling optimistic about their growth in the next 12 months.
On a more positive note, the shift to digital does not seem to be fazing UK SMEs, with over three-quarters (77%) of those surveyed not considering technology issues as a major concern moving forward.
When they adapted and the difference it has made
The data reveals that 45% of respondents made the most changes after the first lockdown, between June and August 2020, followed by over a third (34%) between September and December 2020.
94%* of SMES polled say the impact of technology on their business has been positive since March 2020. This has been particularly true for business owners 55 years old and above, with just under two-thirds (65%) of them confirming that being a more digitally driven business has improved the efficiency of their services.
And there does not seem to be any going back for these businesses: investment into the best technology is going to be an increasingly important way for companies to overcome challenges in the next 12 months. 39% of respondents confirmed that commitment, with the North West making the top spot with almost half of businesses in the region (48%) continuing to adopt tech to impact growth.
Ronald Clancy, UK Country Manager, Vimcar comments on the research: “2020 was a unique year that has changed the way businesses function forever. This data shows us just how resilient and adaptable UK SMEs have had to be to ensure the continuation of their businesses – how agile and innovative they have been, and how they turned to technology to enhance their businesses to ensure they weathered the storm.
This research reveals how SMEs took a hybrid approach – investing in technology and their people – and just how much SMEs were a part of the digital shift that occurred during lockdown.
When we look to the future and the roadmap to recovery, despite the vaccination programme and the promise of unlocking of restrictions, there are still challenges ahead, but it is positive to see that the integration of technology is an ongoing commitment for these businesses and seen as critical for their future success.”
With 41% of UK businesses polled having adopted more technology, the data revealed its application has been to support people…:
40% introduced internal communications or employee engagement software
35% introduced new HR software
34% internal comms and employee engagement
…and to improve their business operations.
43% introduced new customer communications platform
Over a third (34%) introduced an ecommerce offering to support their business.
46% introduced vehicle management software, e.g. vehicle tracking or fuel management software
This survey was conducted by Opinion Matters, among a sample of 1001 senior decision makers in companies with up to 249 employees owning vans/vehicles. Fieldwork was carried out between 19th – 26th May 2021. Opinion Matters abides by and employs members of the Market Research Society which is based on the ESOMAR principles.
*81% calculated by inverting 19% of respondents who said no departments had to adapt since March 2020.
*94% calculated by inverting 6% of respondents who stated that being more tech and digitally reliant since March 2020 hasn’t positively impacted their business.
Production of a new range of safety eyewear for one of the world’s leading names in the industry, Bollé, has begun at a site in Wales.
Bollé Safety, a specialist in the development of personal protective equipment (PPE) eyewear, has announced a partnership with Welsh firm, RotoMedical, part of Rototherm Group, which has become the French company’s exclusive UK manufacturer of PPE eyewear for the healthcare industry.
More than three million PPE items are set to be produced a month at RotoMedical’s manufacturing base in Port Talbot, South Wales, following the launch of production at the beginning of June. The partnership, which has been praised by Life Sciences Hub Wales, will see products distributed across the UK and Ireland as well as exported to healthcare markets globally, with key regions including Europe, Australia and North America.
RotoMedical’s expansion into the life sciences sector has been supported by Life Sciences Hub Wales, which has worked to supply the business with access to contacts, expertise and advice to help with the expansion.
Ahead of the production launch, senior representatives at Bollé, which has its European headquarters based in Lyon, visited RotoMedical’s manufacturing base in the Welsh valleys to make final product checks and confirm certifications.
Ian Walbeoff, Vice President of Sales at Bollé Safety said: “At Bollé Safety, our mission has always been to protect the eyesight of healthcare professionals across the world, even in the most challenging environments, ensuring they are able to safely work on the frontline. At the heart of our brand is a genuine desire to continually innovate and use the best available technology to create the highest quality products, and our partnership with RotoMedical will play a key role in achieving this.
“Combining both our companies’ long-standing legacies and expertise will enable us to collaboratively design, manufacture and assemble products that put innovation at the fore and set a new global industry standard when it comes to performance, excellence and sustainability”.
Rototherm Group, a company dating back to the 1880s, specialises in the production of industrial measuring instruments. During the pandemic, the firm pivoted to also produce medical masks and protective face shields for health and care workers under the brand RotoMedical.
Since the pandemic’s arrival in the UK, the Port Talbot manufacturer has increased production capacity of plastic face visors from a 1,000 per day to 250,000 every week. That rapid success has catalysed further expansion into the life sciences sector, as RotoMedical has progressed to produce BSI certified Type IIR face masks, which are surgical grade and designed for use by healthcare professionals.
Tarkan Conger, Business Development Director at Rototherm Group said: “Our ambition has always been to continue to expand and develop the business, and in turn to create more jobs for the local economy. The partnership with Bollé will enable us to build on our industrial expertise and innovation as we embed ourselves in the life sciences sector, expanding into new manufacturing capabilities and markets.”
Following the supply contract with Bollé, the company added safety goggles to its remit, for which it has created a dedicated automated production line. The Bollé face shields will be manufactured by RotoMedical, Rototherm’s medical and protective equipment division, using locally sourced raw materials.
Oliver Conger, Managing Director at Rototherm Group said: “We’re proud to be an SME in Wales, and the drive is to continue securing partnerships with other companies in Wales and internationally. With the help of Life Sciences Hub Wales, we have been able to establish links throughout Welsh industry, and we’re committed to further growing our global presence. We’ve invested everything we’ve got into the local economy and into the business, which will continue as we expand internationally.”
Ian Walbeoff, Vice President of Sales at Bollé Safetyadded: “This partnership marks the beginning of an exciting new chapter for Bollé Safety in Wales and the UK as we continue to grow our presence in the country and invest in local communities. It will help us to further our capabilities developing products with sustainability at their core as we will work with locally sourced materials, proudly boasting the ‘Made in Britain’ stamp of excellence.
“The capabilities at Rototherm are testament to the highly skilled manufacturing workforce available here in Wales, and we look forward to playing a part in further driving manufacturing excellence from the region.”
Speaking about the new partnership between Rototherm and Bollé Safety, Cari-Anne Quinn, CEO at Life Sciences Hub Wales said: “Life Sciences Hub Wales is proud to be supporting Rototherm’s journey into the life sciences sector and welcome the expanding international connections. We congratulate them for the work they have done to support the UK during a time of great need and on securing this contract will Bollé which will see these successes continue.”
Cheshire-based Virustatic Shield Ltd has donated 500,000 of its face coverings to India to help its struggle to contain the coronavirus pandemic.
A devastating second wave of coronavirus has hit India, leaving millions affected and the death toll now surpassing 300,000. The country’s crisis is seemingly continuing to worsen and hospitals continuing to report critical shortages of oxygen and beds, the entire population is struggling to access basic necessities, including food and medical supplies.
Virustatic Shield is a face covering product of Virustatic Shield Ltd, which unites a global team of scientific partners and facilities to help combat a real and growing threat from the spread of infections. Its trusted 360-snood style face covering is a result of over a decade of UK research and was developed specifically to respond to face covering requirements of a respiratory pandemic – SARS Cov-2, H1N1 (influenza).
Over the last 12 months, the company has been committed to product donations, giving over 25,000 of its face covering to front line workers, charities, and other causes. It’s now donated half a million of its Shields as part of the UK Covid aid mission.
Professor Paul Stanton, the former NHS Director of Board Development and a Senior Consultant to Virustatic Ltd said: “The team here were very much aware that the situation in India had reached an unimaginable level of crisis and help was desperately needed.
“We wanted to respond with compassion and with practical assistance. Within 14 days of the team starting work, half a million protective face coverings were being distributed across Maharashtra. This was only possible because of the rapid development of high-level international connections and collaborative trans-sectoral networks and with the benefit of massive good and enthusiasm from every one of the hundreds of staff concerned.
The swift donation was achievable through a rapid collaboration between the Virustatic Shield Ltd team, the Deputy High Commissioner and his staff team at the UK High Commission in Mumbai, together with Senior Ministers in the Maharashtra Government and staff in their Health Services and Home Departments.
67 pallets of the 500,000 face coverings weighing nearly 20,000 kg were transported 4,500 miles thanks to efforts of the UK Foreign & Commonwealth Office’s Classified and Secure Global Services division and its sub-contractors, the Indian Red Cross and the generosity of Qatar Airways.
Paul ended: “We know that the 500,000 face coverings have been allocated by the Maharashtra Ministry of Health across a region that is two and a half times the size of England to front line staff not only in health care provision, but in public health, education and to policemen and key utility workers in Mumbai, Pune, Kolhapur, Aurangabad, Nagpur and other sub-regional administrative districts.
‘I’d like to personally, as well as on behalf of Virustatic Shield Ltd, thank everyone involved, it just shows when people work together what wonderful outcomes can occur. Together we knew we could help.” “
A Welsh gin produced from recycled coffee grounds will launch on World Gin Day this Saturday (June 12th).
The coffee based but caffeine free spirit is the latest product from Grounds for Good, a lockdown-launched range, created in October by medical doctor turned beauty entrepreneur Dr Rosie Oretti and friend and fellow beauty expert Amy Adams.
With a shared love of coffee and a value for all things sustainable and ethical, Rosie and Amy’s first products were three body polishes of repurposed coffee grounds destined for landfill, followed by candles. And now Rosie is taking the brand forward with the GFG London Dry Gin No.1, distilled at award-winning The Gower Gin Company.
GFG is a social enterprise, with some profit donated to The Wallich, a homeless charity which supported many of Addiction Psychiatrist Rosie’s patients, and where she is now a Trustee, since retiring after 30 years within the NHS.
“This is a cause close to my heart,” says Rosie, who, as one of Wales’ few Addiction Psychiatrists, advised Welsh Government on substance misuse strategy and policy for ten years.
“And yes, I recognise the irony – I certainly did not envisage that I would be producing and selling alcohol in my future!” she says.
While some GFG profits go towards supporting The Wallich, these aren’t from the gin. As many homeless individuals suffer from alcohol or drug related problems, it wouldn’t be ethical to donate assets from this type of source, which Rosie feels, doesn’t align with the charity.
Drawing on their years of green, clean beauty experience – having met while they both worked for vegan, cruelty-free sustainable UK franchise Tropic Skincare – Rosie and Amy harnessed a three-pronged approach or ‘three angles of good’ – good for you, good for the community and good for the planet.
In terms of community, as well as The Wallich, local independent Penarth coffee houses Brød and Foxy’s Deli and throughout lockdown have supplied GFG, saving on commercial waste spend, with grounds being a wet and heavy expense.
“Going forward, in order to be part of the ‘GFG gang’ businesses will retail some or all of our products in return,” says Rosie, who has a 21-year-old son and got her very early love of good coffee from her Italian father. “I want to align more with coffee shops that have the same ethos for sustainability as GFG.”
GFG Dry London Gin No.1 is a relaxing, versatile summer tipple, rather than having the kick of an Espresso Martini, as the distillation process removes caffeine.
Neither does it have a strong coffee flavour, although the grounds do add subtle and unique flavour to the gin base in a similar way to popular products featuring ingredients like juniper, seaweed or lemon.
“Domestic coffee users can pop any of their grounds onto their garden or into a composter – it’s a great soil fertilizer,” says Rosie, who qualified with a First Class Honours Degree in Pharmacology in 1985. “Failing that – always place into food waste rather than general waste, so it doesn’t go to landfill.”
Coffee grounds are typically used only once before going to landfill. Decomposing them in bulk, and under anaerobic conditions, emits harmful methane gas around 34 times more potent as a greenhouse gas than carbon dioxide.
Rosie’s interest in coffee developed at Cardiff charity and non-profit coffee shop Bigmoose, where she volunteered for a year after retiring.
She says: “I really can’t remember an actual ‘eureka’ moment, but it was around that time that I started noticing the vast amounts of coffee waste. The more I researched, the more I realised what massive potential there is for grounds as a biofuel in coffee logs; clothing and shoes; mushroom grow kits; ink…the list goes on.
“I’ve always been someone who cares about the planet and I hate thoughtless waste. Working in the NHS stifles creativity and innovation and so launching GFG, where I have such a creative reign, has been sheer pleasure.
“We have a bean to cup coffee maker at home and we have four shots in the morning. That’s it! I find I only need this amount of great quality coffee and it keeps me going all day. My dad never drank instant coffee and my poor mum would have to make fresh coffee with a Moka pot on the stove!”
South Wales law firm Hutchinson Thomas has completed the merger with Simmonds Hurford Solicitors, expanding its client base and presence in Swansea while strengthening its expertise and offering in relation to property, probate, and business law.
Simmonds Hurford, based on Walters Road, Swansea, has been established for more than 25 years. Michael Simmonds and Helen Hurford, its partners, will join Hutchinson Thomas as consultants. Four other members of Simmonds Hurford’s staff will also join Hutchinson Thomas.
The merger extends Hutchinson Thomas’ reach to three offices – Neath and two in Swansea (SA1 and Walters Road) – and deepens its expertise in certain elements of its offering. For Simmonds Hurford, the merger means the firm can offer its existing client base a much wider range of services.
Peter Morgan, managing partner, Hutchinson Thomas, said:
“We are delighted to welcome all of Simmonds Hurford’s employees and clients at Hutchinson Thomas. The firm has a long history and excellent reputation, and we believe this merger will benefit all those involved.”
Robert Williams, senior partner, Hutchinson Thomas, said:
“Through our history, Hutchinson Thomas has always grown steadily and cautiously always putting the interests of our clients first. We feel this merger continues in that ethos, adding excellent expertise to our firm and welcoming a new client base which will now benefit from our broader offering.”
Helen Hurford said:
“We are delighted to be joining forces with a firm of Hutchinson Thomas’ calibre and reputation. We look forward to working closely with the partners to ensure a smooth handover while retaining excellent service for our clients.”
Michael Simmonds said: “This represents a significant move for the firm. After steadily growing our reputation and client base for 25 years, we now look forward to working with Hutchinson Thomas and embarking on a new chapter in the history of the firm.”
As high-profile ex-employee Dominic Cummings rages a very public war with his former boss, a new study has revealed that employers in the UK are exposing themselves to unnecessary security risks from ex-staff members.
According to the survey by Digital ID , the UK’s leading access control and security provider, just over a third of employers surveyed (mainly SMEs) (34%) admitted to never changing sensitive login and password details. Including for emails, cloud systems, building entry access codes and social media accounts. A further 23% said they only changed them once a year, even if there was a high turnover of staff.
A worrying statistic given that 1 in 5 of the past employees surveyed admitted to having tried to access old accounts to see if they could.
Only 45% of the employers interviewed said they had procedures in place to ensure all equipment, including staff ID badges, were returned when a person left the company.
And a quarter of the employees surveyed admitted to taking sensitive information like contact details, dates, price lists and plans for new products with them when they left a job.
“Our research indicates that lots of companies are leaving themselves wide open to all kinds of security breaches,” said Adam Bennett of Digital ID, the company behind the research.
“The UK has watched on aghast at Boris Johnson’s former aide Dominic Cummings’ attempts to take down his ex-boss. And celebrated in equal measure when a former HSBC cleaner posted a resignation letter shaming her boss for unfair treatment on social media, only for it to go viral.
“What these situations illustrate is that for many businesses, especially SMEs with inadequate security systems and HR procedures in place, ex-employees can pose a very real threat. Especially if they leave on bad terms.
“Nobody likes to think that a relationship will turn sour when they start out, but a quick internet search will reveal plenty of cases of rogue employees causing all kinds of havoc. And in the age of social media, crises can very quickly escalate. In many instances, it’s completely avoidable with the introduction of some simple security procedures.”
How to protect a business from an ex-employee
According to Digital ID, cyber security, access control, staff ID and visitor ID cards are the main security processes SMEs should review.
Adam Bennett shares some steps that employees can do to protect themselves.
Start as you mean to go on – “Protection against an ex-employee actually starts from the moment you hire them. Contracts should be watertight with a confidentiality clause included. It’s wise to get proper legal advice on contracts of employment ahead anything being signed.”
Get password savvy – “It’s really surprising how many companies have never changed their passwords and passcodes. We’d recommend this is done quarterly and at the very earliest convenience after a staff member leaves. It can be a pain, especially if there is a high staff turnover, but it certainly needs to be done more than once a year otherwise companies are leaving themselves open to security breaches.”
Shut down access – “When an employee leaves the company, no matter how amicable, access control cards and credentials should be blocked immediately. Sounds like common sense, but again you’d be surprised how many employers don’t take this very simple action. Access cards can be set by a system administrator to work up until the employees’ last day, and this can be done way ahead of them actually leaving. It ensures there will be no issues once the employee has left.”
Keep track of tech – “Tag and track staff equipment using systems such as MyTAG, which allows companies to monitor and track assets such as computer equipment and other expensive items. It’s great for protection and lets you know who is accountable for what at all times. So, for example, a disgruntled staff member who has “forgotten” about that really expensive piece of equipment can easily be tracked.”
Allow them to air their views – “There is of course a HR side to managing an employee leaving. If somebody has a vendetta, it’s usually because they weren’t given adequate opportunity to air grievances during their employment. An exit interview is a formal way for them to ‘let off steam’ but in a professional setting. Any issues should then be dealt with appropriately. It’s wise for senior staff to also be trained in conflict resolution. Very often when employees leave on bad terms the issue could have been settled in a more positive way earlier in the chain of events.”
Keep tabs on your online presence – “Finally, no matter how well managed their exit, some employees simply want revenge and it’s not unusual for that to take place publicly on social media channels or forums. Having in place, proper monitoring to watch out for mentions of your company name will help you to manage your reputation and deal with defamation in a timely manner.”
Joining Vix Technology, Kuba, Snapper and Littlepay to deliver complete solutions for transport operators across the globe.
ICM Mobility Group announces the acquisition of Unwire, joining a group of companies with a portfolio of solutions deployed in over 100 cities around the world, making more efficient journeys and payments for everyone.
Unwire is an innovative Danish company founded in 2001, specializing in mobile mobility and payment solutions. Located in Copenhagen, over the last two decades Unwire has implemented mobile mobility and payment solutions for transit agencies around the world, including projects in Dallas and Phoenix, in partnership with other ICM Mobility Group companies.
Unwire’s unique white-label mobility platform is a Mobility as a Service (MaaS) solution, which aggregates a wide range of mobility services from traditional mass transit to micro mobility, paratransit, rideshare and other multimodal options. Offering passengers extensive planning features, including a multimodal trip planner with full integration to on-demand micro transit booking and scheduling systems, it enables users to seamlessly plan, book, and pay for their multimodal journeys.
Unwire will retain its brand and independence, whilst benefiting from working closely with other ICM Mobility Group companies including Vix Technology, Kuba, Snapper and Littlepay. With the financial support of long term globally diversified investment fund manager ICM Limited, the group collectively engages over 1,000 highly talented people operating in 20 countries.
Steve Gallagher, ICM Mobility Group Chairman commented: “Having already worked closely together on projects such as the award-winning GoPass application for DART in Dallas, Texas, Unwire is a proven cultural fit for us.
“Within our group, each company is empowered to share industry experience, knowledge and market understanding to drive innovation and new services. Unwire’s expertise in building gateways, APIs and backend integrations to infrastructure in banks, payment processors and transportation operators will prove invaluable to our customers across the globe.”
Jesper Thor Rasmussen, Unwire CEO added: “Joining the ICM Mobility Group will allow us to deliver our innovative solutions to a broader number of agencies and develop an even better platform for a wider audience. This will strengthen Unwire’s goal to support cities in becoming more sustainable and make public transit the easy choice. We look forward to developing new ideas and solutions as well as building on combined experiences to add even more value to what we can offer.”
Business in the News – the latest UK Business news from NTSI
