A survey by The Corporate IT Forum amongst its 3500 showed that morale is low amongst UK businesses when it comes to the general perception of how the government is tackling the growing e-crime problem.
Only 43 percent of those surveyed say that they felt that e-crime was being properly tackled by the police with a whopping 96 percent not bothered to report cases of e-crime to the authorities.
More than two thirds of the companies in the report say they had witnessed an increase in the number of e-crime targeting their business, this, in effect, puts them in a "siege" situation.
A similar proportion of respondents said that they spend up to 40 percent of their security budgets on fighting cyber-crime.
A spokesperson for the CIT Forum said that the government should wake up and apply "appropriate deterrents and penalties" as the risk of criminals getting caught is presently not great enough.
Put it simply, real life pickpockets and criminals have more chance of getting caught than virtual ones.
David Roberts, head of the Corporate IT Forum, suggested that: "IT chiefs in UK PLCs don't think the government appreciates the scale of the cyber crime threat, the seriousness of the threat or how much it's costing" adding that "Business confidence in the government's ability to help them fight cyber crime is at rock-bottom".
The comments came as the Police Central E-Crime Unit has been given a budget of only £7 million to protect businesses from cyber-criminals.