Wednesday 13 June 2012
Cyberattacks are costing the UK economy a significant amount of money each year, it has been claimed.
Ian Shaw, managing director of MWR Infosecurity, said it is crucial for companies to be aware of the various IT security dangers and ensure they do not become a victim.
He suggested that many companies are failing to quantify the potential costs, and are therefore struggling to measure their responses appropriately.
And companies which are taking steps to mitigate their risks often fail to review their security plans often enough to account for new threats, Mr Shaw warned.
This means companies may be exposing themselves to IT security risks unnecessarily - risking financial fines, regulatory sanctions and reputational damage.
According to a Cabinet Office report published last year, online crime costs the UK economy an estimated £27 billion per year.
The lucrative nature of internet fraud means there is a strong incentive for criminals to target businesses and consumers over the web.
And as such, it is vital that all practicable precautions are taken to safeguard data and reduce risks while using the internet.
Posted by Alex Boardman