Foreign hackers 'putting UK firms out of business'

Hacking by foreign governments and corporations is putting British companies out of business and has cost the economy £27 billion, the country’s head of cyber security has warned.

Maj Gen Jonathan Shaw told The Daily Telegraph that cyber attacks represent the biggest threat to national security and that British firms are routinely having valuable commercial information stolen from them by overseas rivals.

In a recent instance, a firm in Warrington, Cheshire, that designed a revolutionary blade for wind turbines went bust after hackers stole the blueprint and produced a cheaper version.

Maj Gen Shaw, the head of the Ministry of Defence’s cyber security programme, said that Britain will lose its position as one of the world’s leading hi-tech manufacturers unless companies improve cyber security.

“The biggest threat to this country by cyber is not military, it is economic,” said Maj Gen Shaw, a veteran of the Falklands War and Iraq.

“The cyber threat could affect anyone, and we all need to take measures to protect ourselves against the threat it poses.
“If the moment you come up with a brilliant new idea, it gets nicked by the Chinese then you can end up with your company going bust.”
See more at: http://www.telegraph.co.uk/technology/news/8845100/Foreign-hackers-putting-UK-firms-out-of-business.html