UK’s minister for cyber security policy has held out the danger flag of cyber security breaches that may increasingly target growing economies like India.
“Our national audit estimates that security breaches now cost the UK economy about 18-27 billion pounds a year (Rs 1,80,000-2,70,000 crore). That is the price we pay but we can’t continue to afford that amount,” said Francis Maude, a senior minister for the UK Cabinet office who is also responsible for cyber security issues among other policy areas.
“India’s losses due to cyber crime are a little lower but it is bound to rise as the economy continues to grow and becomes dependent on the Internet, technology, and innovation,” added the minister who is currently in India.
Pointing out that UK has just established the Computer Emergency Response Team (CERT-UK) as part of a global effort to combat cyber crime, Maude said there is an imperative and urgent need to employ more people to fight cyber crime.