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Published: 2019-05-13

Cybercrime. Should I or my company be concerned? No. You should be terrified

Cybercrime

In May last year, Liam Fox, the International Trade Secretary, announced that the UK government would be investing £1.9 billion of transformational investment to support the country's strategy of becoming secure and resilient to a cyber-threat by 2021.

Describing the scale and speed of the technological revolution as a "Pandora's Box," he said, "It is the responsibility of government to lead the field in our global cyber security standards and to promote the UK's world-leading expertise and strengthen capabilities in the UK and allied countries."

It has been estimated that the global cost of cybercrime will reach $2 trillion by the end of this year, with a 2017 report estimating that a five-day loss of the Global Navigation Satellite System would cost the UK in excess of £149 million.

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Cybercrime. Should I or my company be concerned? No. You should be terrified

 

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