One third of UK businesses do not report electronic crime

Less than two weeks to go before the annual IT security event in London that is Infosecurity Europe, and the organisers have carried out a survey on e-crime.

Unlike some IT security surveys, Infosecurity Europe's surveys are always quite interesting and this one is no exception.

The latest survey - which took in responses from 285 companies - found that a third of them did not report their IT security crimes and breaches.

As a result of the findings, the organisers conducted an in-depth discussion with a panel of 20 chief security officers (CSOs) of major organisations.

The panel revealed that, whilst businesses are hurt by attempted e-crime every day, it is hard to establish at what point it becomes sensible to report it.

There is, say the organisers, a balance to be made between the company's responsibility to report crime in order to prevent and predict incidents in the wider business community and the clear material loss from reputational damage.

Aha - now we're getting somewhere. It's not the material loss that worries CSOs, but the cost to their company's reputations if they reveal to the public that they've been hit by an electronic crime...