Hackers are selling stolen credit card details for as low as 70p online, a new government report has revealed.
According to the report released by GCHQ, the UK government's spy agency, cyber attacks against the UK have reached ‘disturbing' levels.
The report revealed that there were more than 150 illegal websites that allowed crooks to purchase credit card information belonging to between 20,000 and 100,000 people around the world at any given time.
Iain Lobham, the head of GCHQ, warned that hackers were targeting sensitive data, threatening the country's economic well being.
The security expert also revealed that the UK Foriegn Office and other key government departments had come under a significant cyber attack themselves recently, though thankfully, the attack was not successful.
"I can attest to attempts to steal British ideas and designs - in the IT, technology, defence, engineering and energy sectors, as well as other industries - to gain commercial advantage or to profit from secret knowledge of contractual arrangements," Lobham said.
"Such intellectual property theft doesn't just cost the companies concerned, it represents an attack on the UK's continued economic well-being," he added.