News24

UK spy chief: Cyber threat is growing

2012-09-05 22:30

London - The head of Britain's secret eavesdropping agency says businesses face an unprecedented threat from cyber attacks.

Iain Lobban, head of GCHQ - Britain's equivalent of the US National Security Agency - held talks on Wednesday with executives from a host of FTSE 100-listed companies.

He said his agency is aware of successful attempts to steal intellectual property or data like negotiating positions, to disrupt government work and to access defence information.

Businesses face "credible threats to cyber security of an unprecedented scale, diversity and complexity," he warned.

GCHQ declined to say which companies were invited to the meeting with Lobban and other intelligence officials.

In one recent case confirmed by Britain's government, a major London-listed company said it incurred revenue losses of £800m following a cyber attack.