Thursday, June 30, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
OPPO and Vivo Set To Enjoy Significant Smartphone Production Growth This Year
Netflix To Offer Original Series In Asia
Qualcomm Snapdragon 600 and 800 Procesors To Support Google Tango Augmented Reality Technology
HTC Joins Investment Firms to form VR Venture Capital Alliance
BMW Is Teaming Up With Intel, Mobileye On Self-Driving Cars
Fujitsu Develops Energy-Saving Technology to Cool Data Centers
1TB Surface Book And Surface Pro 4 Now Available in New Markets
DLNA 4.0 Offers Device Compatibility, Energy Efficiency
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Cyber C...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, February 17, 2011
Cyber Crine Costs U.K. Economy $43.54 Billion Per Year


The overall cost to the UK economy from cyber crime is £27bn ($43.54 bn) per year, according to the first joint Government and industry report into the extent and cost of cyber crime across the UK, launched by the Office of Cyber Security & Information Assurance in the Cabinet Office and information intelligence experts Detica.

"The Cost of Cyber Crime" report reveals that whilst government and the citizen are affected by rising levels of cyber crime, at an estimated £2.2bn ($3.54 bn) and £3.1bn ($4.99bn) cost respectively, business bears the lion?s share of the cost. The report indicates that, at a total estimated cost of £21bn ($33.86bn), over three-quarters of the economic impact of cyber crime in the UK is felt by business. In all probability, and in line with worst-case scenarios, the real impact of cyber crime is likely to be much greater, the report says.

"With society now almost entirely dependent on cyber space, developing effective strategies to tackle cyber crime requires a better understanding of its impact. Its breadth and scale have been notoriously difficult to understand and past attempts to set cyber crime policy or develop strategies have been hampered by a real lack of insight into the problem," the report said.

"The results of this study suggest that businesses need to look again at their defences to determine whether their information is indeed well protected. Encouraging companies in all sectors to make investments in improved cyber security, based on improved risk assessments, is likely to considerably reduce the economic impact of cyber crime on the UK," the study concluded.

The study uses the term 'cyber crime' to mean the illegal activities undertaken by criminals for financial gain. Such activities exploit vulnerabilities in the use of the internet and other electronic systems to illicitly access or attack information and services used by citizens, business and the Government. Cyber criminals can range from foreign intelligence services and large organised crime groups, to disreputable (but otherwise legitimate) companies and individuals or small groups of opportunists.

The spacific study focused on less-understood cyber crimes, including identity theft and online scams affecting UK citizens; IP theft, industrial espionage and extortion targeted at UK businesses; and fiscal fraud committed against the U.K. Government.


Previous
Next
Intel CEO Said Nokia Made A Mistake Over MeeGo        All News        Motorola XOOM Coming in Europe
Google Makes Search More Social     General Computing News      Windows 7 SP1 Available to MSDN Subscribers

Get RSS feed Easy Print E-Mail this Message

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .