Computer crime cost UK billion in 2003

Computer crime cost UK companies billions of pounds last year, according to the National Hi-Tech Crime Unit (NHTCU).

Some 83 per cent of UK businesses experienced some form of electronic crime, at a cost of £195m, according to a survey of 201 large and medium sized organisations conducted by NOP for the NHTCU.

The research suggests that the total losses could be much more significant, says Len Hynds, head of the NHTCU.

'The financial impact of hi-tech crime does appear to be in terms of billions of pounds, rather than millions,' he told the E-crime Congress in London this week.

The annual Hi-Tech Crime Survey found that 77 per cent of the organisations that experienced cybercrime last year suffered virus attacks, with an average of 254 incidents each.

One in five were targets of a denial of service attack, 17 per cent had their web site spoofed, 11 per cent suffered data theft, and 17 per cent financial fraud. Extortion and organised crime is also on the rise.

Hynds says that law enforcement agencies, government and industry must continue to forge closer relationships to combat electronic crime. He also called for stiffer sentences for hackers.

Home Office Minister Caroline Flint says the government is planning changes to the Computer Misuse Act as soon as parliamentary time allows, covering offences such as denial of service attacks and crimes where technology is used to intentionally defraud.

'We need stronger legislation and threat penalties and greater co-operation in relation to crimes against, and the utilisation of, computers,' she said.