The Head of the City of London Police has said that the UK is losing the battle against cyber criminals.
Commissioner Adrian Leppard, addressing MPs earlier this month, said that, "We are not winning” adding that, “this nature of crime is rising exponentially".
In a report by the Telegraph, the Commissioner noted that the UK is being targeted by cyber criminals from 25 different countries and that businesses in the country lost around £205m this year as a result of cyber crime.
Among those to be increasingly targeted are wealthy retired people, being targeted by fraudulent share schemes totalling £3.5bn a year. On average victims have lost £25,000, with half of those losing out in the schemes aged over 65.
Mr Leppard also noted that there was evidence al-Qeada and other terrorist networks were using cyber crime as a means of funding their activities.
The news comes amid fears the resources needed to tackle cyber crime may fall. Leppard warned MPs that with the planned police spending cuts, up to a quarter of the 800 specialist internet crime officers could lose their jobs.
Written and presented by Alfred Joyner