Cybercrime is costing British businesses £34 billion per
year, including £18bn in lost revenue, according to the
Centre for Economics and Business Research. But it appears that the
majority of British businesses have yet to take cybercrime
seriously, even given the threat of EU legislation which could
involve huge fines for beaches. This was the subject of a
roundtable discussion by a panel of leading cybersecurity experts,
convened by Super North in the offices of Deloitte in
Manchester.
It was a fitting venue in light of the recent report,
Consumer data under attack, which contains the warning that
one-third of consumers would now close their account or stop
dealing with a business following a breach. The report also insists
that it is 'no longer just an IT issue' and boards need to
take note of consumers' awareness and cynicism about how their
data is used. Building the right cyber strategy, with transparency
at the heart, could lead to gaining competitive
