Report: Cyber Crime Costs UK $44 Million Every Year

British government estimates say cyber crime costs the nation more than £27 billion, roughly $43.5 billion a year, with industry experiencing the biggest economical loss.

A report by the Office of Cyber Security and Information Assurance and BAE Systems-owned Detica released today concluded web crime is an expanding, widespread problem, and efforts to…

Foreign Cyber Spies Target British Defense Official

A senior British defense official was targeted by a spear phishing attack that attempted to steal military secrets, The Register reports.

The plan was uncovered last year when the official became suspicious of an email she received from a contact she had met at a conference. The official showed the highly personalized message to Ministry of Defence IT experts, who then discovered the attachment contained malicious code created…

UK Spy Chief: Britain Battles 1,000 Cyber Attacks Every Month

A British top spy chief has revealed how the nation is engaged in a cyber war with terrorists, organized criminals and enemy states.

In the first public speech by the head of the intelligence agency, Iain Lobban described the threat to the British critical national infrastructure as “real and credible,” according to The Sun.

Worms targeting government systems have already caused significant disruption, he added, and Internet crime is…

British Ministry of Defense at Risk for Cyber Attack

The British Ministry of Defense is vulnerable to cyber attacks because of data loss and week information infrastructure, according to the MoD’s accounting officer.

In a report submitted to Parliament, Bill Jeffrey says while the department is making headway on cybersecurity, the risks from attacks in cyberspace are still a problem.

“In addition to the risks posed by data…

Falklands Invaded…Again

Over the weekend, Argentine hackers broke into the website of Falkland Islands’ Penguin News and placed an Argentine flag on the homepage. The hackers also posted a protesting note with bullet points claiming that the Falkland Islands should be part of Argentina, according to an article on The Register.co.uk.

The hack also included an audio recording of March of the Malvinas. The bullet points (in Spanish) claim that the…

Cyber Scammers Beware, the British are Coming

The British government has launched a counter cyber scam team and plans to invest 4.3 million pounds within the next three years to combat cyber scams. Online scams, usually initiated via email, currently hit 3 million victims in the UK per year for a total loss of 3.5 billion pounds, according to an article on TheRegister.co.uk.

The new team…

Britain’s Conservatives Attack Labour Government over Cyber

Late last week, David Cameron, head of the Conservative Party in the UK, outlined his parties plans to handle national security issues. The plans highlight the central role that cyber security now plays in any national security discussions.

In the report, the Conservatives say “the reliance of developed societies and economies on networks and computer…