Monthly Archives: February 2011

£1bn of data stolen from UK plc every year through cyber crime

According to new statistics from The Cabinet Office, £1bn of data is stolen from UK businesses every year through cyber crime – and that number is growing.

As part of a wider review of the impact of cyber crime, which costs companies in the UK a total of £21bn a year, the British Government has noted that “the most seriously affected businesses are from sectors not traditionally viewed as targets of cyber attacks.”

Or, in other words, it’s no longer just the National Grid that needs to protect its data from cyber crime, it’s every businesses.  Of course, unless you’re up to something pretty special in your company, it seems unlikely that a bald guy stroking a cat in a volcanic lair is going to pay a troop of minions to hack your network and steal the details of your stationery order.  However, with EU statistics agency EUROSTAT saying that 31 per cent of European PCs are running malware right this very minute, it seems there are a lot of people out there who would be happy to get at your bank details – and aren’t likely to be too worried about what other files they corrupt along the way.

Ironically, accidental deletion by a company’s own staff is probably still the biggest cause of data loss for businesses.  But the good news is that online backup will protect you either way.

If you need more convincing of the need for action, this is what the Cabinet Office recommends:

“All sectors need to look again at their defences to determine whether their information is indeed well protected.  Without urgent measures to prevent the haemorrhaging of valuable intellectual property, the cost of cyber crime is likely to rise even further in the future as industry increases its reliance on ICT.”

Stark stuff…But implementing a backup solution is no longer rocket science and, since you can pay as little as £5 a month to protect your business, it’s considerably cheaper than £1bn!