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Cyber crime ‘costs £27bn a year’

Cyber crime ‘costs £27bn a year’

Cyber crime costs the UK economy £27bn a year, the government has said.

The figures, published for the first time, are a mid-range estimate and the real cost could be much higher.

They are made up of £21bn of costs to businesses, £2.2bn to government and £3.1bn to citizens.

Security minister Baroness Neville-Jones said the government was determined to work with industry to tackle cyber crime.

At the moment, cyber criminals are “fearless because they do not think they will be caught”, she said in a briefing in central London.

Read More/Source: BBC News

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