Small businesses facing cyber crime risks

Cyber crime costs the UK economy £27bn a year, the government has said.

The figures, published for the first time, are a mid-range estimate and the real cost could be much higher.

They are made up of £21bn of costs to businesses, £2.2bn to government and £3.1bn to citizens.

Holly Conway, from the Federation of Small Businesses, welcomed the report but says around 40% of cyber crime against small businesses goes unreported.