UK cybercrime hits £27bn claims report

The UK government today (17th February) claimed UK cybercrime is costing a staggering 27bn GBP. The report published by security consultancy Detica provides a breakdown of the cybercrime total with industrial espionage costing an amazing 7.6bn GBP. Strangely, the report highlights the complexity of collating the data due to some cybercrime not being reported.I’m perplexed as to how these figures have come about and just how accurate they are.

These reports are useless for consumers and small business. Why? They don’t provide a complete picture of the affects of cybercrime on UK PLC. Why would a business want to report a cybercrime or data breach? After all, their reputation, brand and revenue line would be at risk. Consumers continue to appreciate the value of having Internet Security, but with the ever changing threat landscape it’s not surprising consumers remain the most targeted by the cybercriminal community.

Cybercrime reports are useful for raising awareness, generating public relations and assisting the enterprise industry with adopting improved security policies, but for me, serve little purpose for consumers and small business.

Safe surfing folks!

This entry was posted in identity theft: identity fraud, privacy. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *