e-crime cost British business billions

Hi-tech crime cost Britain’s business millions of pounds last year, according to the latest survey conducted by NOP for the National Hi-Tech Crime Unit.

Using the data, total estimated minimum cost of the impact of hi-tech crime on UK-based companies with more than 1,000 employees is £2.45 billion.

Of 200 companies surveyed, 89% said that they had experienced some form of hi-tech crime last year, with 90% suffering from unauthorised access to, or penetration of, their company systems, while 89% suffered theft of information or data.

97% of respondents said they had experienced virus attacks which had cost them £70,792,102, while financial fraud had cost 9% of them £68,165,920.

The survey also showed that companies are more concerned about the effect a security incident might have on their business, rather than the damage this might have on their reputation, with 69% of respondents citing this as a concern. Only 17% were worried about the effect of crime on their public image.

However, the survey highlighted that not all the attacks were from an external source. Crimes committed by employees were also listed, with sabotage of data and networks topping the bill. Even so, more than a quarter of those surveyed did not undertake regular security audits.

The report can be downloaded at www.nhtcu.org