Cybercrime is estimated to cost nearly $400 billion annually.
The European Commission has announced plans to set up a dedicated centre to fight cybercrime, with responsibilities for:
- warning EU countries of major threats to their IT infrastructure;
- alerting EU countries to weaknesses in their online security;
- identifying criminal networks of cybercriminals and offenders; and
- assisting cybercrime investigators, prosecutors and judges.
Cybercrime is a constant threat to most businesses. In particular, theft of data is a serious risk in many businesses.