Feeds

CBI warns of UK cybercrime epidemic

Net fraud complaints centre called for

  • alert
  • submit to reddit

Mobile application security vulnerability report

Two thirds of British companies have been hit by cybercrime in the last 12 months, according to a survey out today.

Hacking, viruses and credit card fraud were the most common incidents, the Confederation of British Industry (CBI) claims.

Its survey of 148 companies also found that the main threat came from external hackers, which accounted for 45 per cent of cases. Former staff and organised crime were both responsible for 13 per cent, and current employees for 11 per cent.

Although around 70 per cent of respondents said financial losses were negligible, they were most worried about the damage cybercrime could do to their reputation.

"This survey clearly shows that fears about potential financial losses and damage to reputation from cybercrime are stalling the growth of e-business, especially for business to consumer transactions," said CBI director general Digby Jones.

Perhaps what is most surprising about the survey is the fact that the CBI managed to find a relatively large number of businesses that hadn't been hit by viruses or hacking.

The CBI also urged the government to set up a UK centre for cybercrime complaints - similar to the Internet Fraud Complaint Center in the US, and to also extend the Computer Misuse Act of 1990 to attacks that cause IT systems to fail.

Meanwhile, another report out today suggests, unsurprisingly, that fear of fraud is hindering e-shopping. According to The Association for Payment Clearing Services, fewer than 1.5 per cent of credit and debit card purchases were made online last year. ®

Related Stories

'Bill Gates' hacker escapes jail
European police ill-equipped to tackle cybercrime

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.