The Director General of MI5, Jonathan Evans, has given a speech discussing the growth of organised cybercrime targeting UK businesses and government.
In a rare public speech, the head of the British Secret Service described how “one major London listed company” estimated that it had lost “some £800m as a result of hostile state cyber attack – not just through intellectual property loss but also from commercial disadvantage in contractual negotiations.”
The MI5 chief described the extent of the problem as “astonishing – with industrial-scale processes involving many thousands of people lying behind both state sponsored cyber espionage and organised cybercrime”, and called upon the private sector and government to improve its information-sharing about cyber attacks.
I presume Jonathan Evans meant “astonishing” to the man in the street, and not to…
Read more in my article on the Naked Security website.