- Jan 24, 2011
- 9,378
The UK government has today published a report into the cost of cybercrime, concluding that the overall cost to the UK economy from cybercrime is £27bn per year.
Wow. £27 billion a year is a huge amount of money. It's even more staggering when you compare it to other problems that Britain faces. For instance, drug-related crime is estimated to cost the UK £13.9 billion a year.
Unfortunately the report, which was compiled for the Office of Cyber Security & Information Assurance by security consultancy Detica, doesn't give any real detail of how it came by the number.
It does break the £27 billion cybercrime total down into different categories - for instance, £9.2 billion comes from theft of intellectual property (IP), and £7.6 billion is calculated for industrial espionage - but the report acknowledges that calculating such figures is "complex" because such incidents are typically not reported.
More details - link
Wow. £27 billion a year is a huge amount of money. It's even more staggering when you compare it to other problems that Britain faces. For instance, drug-related crime is estimated to cost the UK £13.9 billion a year.
Unfortunately the report, which was compiled for the Office of Cyber Security & Information Assurance by security consultancy Detica, doesn't give any real detail of how it came by the number.
It does break the £27 billion cybercrime total down into different categories - for instance, £9.2 billion comes from theft of intellectual property (IP), and £7.6 billion is calculated for industrial espionage - but the report acknowledges that calculating such figures is "complex" because such incidents are typically not reported.
More details - link
