Cybercrime costs more than £27bn

Thursday, 17 February 2011

Cybercrime costs the UK more than £27 billion a year, figures have showed.

Attacks on computer systems, industrial espionage and theft of company secrets costs businesses alone at least £21 billion.

Security Minister Baroness Neville-Jones said the answer lies in private firms and the Government working together to disrupt criminal networks rather than prosecution.

Matthew Knowles, spokesman for aerospace, defence and security trade organisation ADS, said: "Industry in the UK works well with the Government bodies responsible for security and cyber-security and the British sector is one of the world leaders in this area.

"The industry looks forward to working with the Prime Minister and the working party to build on that spirit of partnership to deliver the high-tech solutions that will continue to protect both military and civilian systems that are crucial to our security and way of life."