UK warns of Middle East route of cyber crime against industry

Many international sources are warning that the Middle East is becoming a major source of cyber-crime. Egypt is one of the most phished countries in the world, followed closely by other countries in the region such as Saudi Arabia, UAE and Qatar.
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Developing effective strategies to tackle cyber crime requires an in-depth understanding of its impact. Its breadth and scale have been notoriously difficult to understand and past attempts to set cyber crime policy or develop strategies have been hampered by a real lack of insight into the problem.

According to the first joint British Government and industry report into the extent and cost of cyber crime across the UK, launched recently by the Office of Cyber Security & Information Assurance in the Cabinet Office and information intelligence experts Detica- part of BAE Systems -said the overall cost to the UK economy from cyber crime is £27bn per year.

The report was undertaken to look at the overall cost to the UK of cyber crime and, in particular, to gain a better appreciation of the costs of Intellectual Property (IP) theft and industrial espionage.

Detica is working through BAE Systems to assist governments and industry in the region in understanding the issues involved in cyber crime.

 

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