IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Cyber crime to cost UK £1.9 billion in 2011

The UK economy will take a serious hit from cyber crime this year, a Symantec report says.

Konnie Huq

Cyber criminals will cost the UK economy an estimated 1.9 billion in 2011, according to a Symantec report.

This means that this year, on average, each cyber crime victim will lose 103, the research indicated.

Furthermore, Symantec estimated 19 million Brits, almost a third of the nation's population, will be affected by cyber crime in some way in 2011.

The UK Government recently committed 63 million to help fight illicit online activity.

The estimates were released on the day the security giant launched its Norton Cybercrime Index in London to help raise awareness of the threats people face today.

The index contains information such as the most dangerous websites, the search terms most hijacked by hackers and popular scams. It can be viewed online, on a mobile device or downloaded.

The data comes from three different sources: the Symantec Global Intelligence Network, risk management firm ID Analytics and DataLossDB and an Open Security Foundation project.

"We feel we need to continue to raise awareness of cyber attacks and the kinds of attacks the public will face," Laura Garcia, vice president of product management at Norton, told IT PRO.

TV presenter and former Blue Peter host Konnie Huq was on hand to launch the Cybercrime Index Experiential Event, an installation about the Norton Cybercrime Index open to the public until 24 February in Westfield London's Atrium.

KH

Huq will act as a spokesperson to talk about how any data placed online will be there forever, just like permanent ink on skin.

"More and more of our social activity is going online," Garcia added.

"It's going to be very important to raise awareness [of this]."

Featured Resources

Accelerating AI modernisation with data infrastructure

Generate business value from your AI initiatives

Free Download

Recommendations for managing AI risks

Integrate your external AI tool findings into your broader security programs

Free Download

Modernise your legacy databases in the cloud

An introduction to cloud databases

Free Download

Powering through to innovation

IT agility drive digital transformation

Free Download

Most Popular

Salaries for the least popular programming languages surge as much as 44%
Development

Salaries for the least popular programming languages surge as much as 44%

23 Jun 2022
The UK's best cities for tech workers in 2022
Business strategy

The UK's best cities for tech workers in 2022

24 Jun 2022
LockBit 2.0 ransomware disguised as PDFs distributed in email attacks
Security

LockBit 2.0 ransomware disguised as PDFs distributed in email attacks

27 Jun 2022