The information era has witnessed the development of technology at a rapid pace.  The cyber crimes are also on a rise competing with the technology. The computer technology has created a revolution in the administration of nations. The various sectors are using these technologies for their business operations.

The UK being a developed nation has information technology on the prowl. There is a tremendous increase in cyber crimes in UK recently. The cyber police and experts opine that the cyber crimes will have a drastic impact on the economy of UK if they are not controlled.

The share market which is completely computerized can be attacked and the attacker can control the prices of the shares. The internet banking frauds like credit card frauds, net banking frauds are also increasing in the UK.

The identity thefts, distributed denial of service attacks, virus and Trojan attacks, cyber terrorism are some of the most dangerous cyber crimes which may paralyze the nation. Therefore, the authorities feel there is a need for a weapon in their arsenal to book the cyber criminals and to reduce the impact on the economy.

CYBER CRIMES POSE THREAT TO UK ECONOMY

Report by Sai Sushanth