Cost of cy­ber­crime surg­ing: re­port

China Daily (Canada) - - NEWSCAPSULE -

Fi­nan­cial losses caused by cy­ber­crime have soared in China and across the world this year, caused mainly by a lack of se­cu­rity strate­gies by many com­pa­nies, ac­cord­ing to global ac­count­ing firm Price­wa­ter­house­Coop­ers.

The company said the av­er­age an­nual fi­nan­cial loss re­sult­ing from cy­ber­se­cu­rity in­ci­dents on the Chi­nese main­land and in Hong Kong in­creased by 33 per­cent year on year in 2014 to $2.4 mil­lion.

To­tal fi­nan­cial losses due to the theft of business se­crets around the world were es­ti­mated be­tween $749 bil­lion and $2.2 tril­lion an­nu­ally.

Around 41 per­cent of Chi­nese main­land and Hong Kong company re­spon­dents re­ported that for­mer em­ploy­ees were the most likely sources of in­ter­nal breaches of se­cu­rity.

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