Information Communication Technology public relations

Cost of Cyber Crime Report

In February, the Government, along with information intelligence experts Detica published ‘The Cost of Cyber Crime’ Report, the first joint Government and industry report into the extent and cost of cyber crime across the UK.

The overall cost to the UK economy from cyber crime is £27bn per year, and with attacks on both the public and private sector becoming increasingly prominent, frequent, and costly, the cyber crime sector is rapidly become a critical area of public sector ICT consideration.

With society now almost entirely dependent on cyber space, developing effective strategies to tackle cyber crime requires a better understanding of its impact.

"The Cost of Cyber Crime" report demonstrates that government are damaged to the tune of £2.2bn a year by cyber crime, individuals lose £3.1bn, but by far the worst affected are businesses, with estimated losses of £21bn.

A Full Executive Summary of the Report can be found here.

The Entire Report can be read here .