Cost of cybercrime surging: report
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.