A new report found that cyber crime in the UK has passed traditional crime in terms of impact.
In its Cyber Crime Assessment report for 2016, the National Crime Agency (NCA) detailed the top threats facing UK businesses.
The rapid growth of technology and cyber crime are now outpacing the ability for businesses to respond efficiently. Consequently, collaboration between government, law enforcement and business must be strengthened in order to curtail vulnerabilities and deter criminals, the report determined.
Distributed denial of service (DDoS) and ransomware attacks spiked in 2015, the report found. Additionally, the NCA found that the most pervasive cyber-crime threat is the “direct or indirect result of a few hundred international cyber-criminals, who target UK businesses to commit highly profitable, malware-facilitated fraud.”
The cost to the UK economy from cyber crime runs to millions of pounds per year, with data breaches the most virulent attack.
Author – Greg Masters