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Cyber crime in Wales rises 67%

May 06, 2010

Cyber crime in Wales cost businesses nearly £400m in the past year as instances of attacks more than doubled, a report from online safety group e-Crime Wales found.

Internet fraud has risen by 67% in the principality in the past year and incidents have included the attempted hacking of passwords, data loss and the spreading of viruses.

The average Welsh business is losing more than 3% of its turnover - almost £2,000 - as a result of online crime. Based on turnover in 2009, the cost to businesses was an estimated £373m .

More than half of companies have increased their spending on IT security in the past year as e-Crime Wales says that businesses are becoming increasingly aware of the problem.

Businesses are becoming more vulnerable to new types of cyber-crime as more data is saved online with companies becoming more and more dependent on computer systems and the internet.

Wales has taken a lead on preventative measures in order to fight the growing threat of online criminality, which costs the UK £10bn in total.

Companies are kept informed of the latest developments in the fight against the problem, through an annual summit to promote online safety. In every Welsh police forces, there are dedicated e-Crime officers, something which makes the principality unique.

Andrea Barnard, e-Crime Wales police manager, said: "The integration of technology has huge benefits for Welsh businesses, enabling growth, reducing costs, increasing competitiveness and enhancing profitability. This is why we're committed to making Wales a safe place to do business online."

Copyright © Press Association 2010

 

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