A new government report claims that the overall cost to the UK economy from cyber crime is 27bn per year - according to the first joint Government and industry report into the extent and cost of cyber crime across the UK, launched this week by the Office of Cyber Security & Information Assurance in the Cabinet Office and information intelligence experts Detica.
Jonathon Royle, CTO of Rise, comments: "Given the increasing risk of cyber crime, it seems counter-intuitive to say that the Cloud is a safer way for companies to protect their company and customer data. But UK businesses, in particular SMEs need to get past their concerns around Cloud and security. The reality is, it is much safer to use Cloud-based services to store data rather than just keeping it on the servers in your office or on your employee's laptops and mobile devices.
"Large companies know their own IT systems are inherently insecure. That's why they spend so much on IT security. SMEs try their best but it's impossible for them to keep up to date with everything, especially with hackers today using increasingly sophisticated tools and techniques.
"On the other hand, cloud computing providers run applications and store data for thousands of paying customers. They cannot afford to get it wrong. Right from day one, these companies have designed security into the process. The economies of scale within the IT service provider world tell us why cloud computing is likely to offer greater security to an SME than they gain by doing it themselves.
"It's a dangerous myth that data which resides outside our four walls must in some way be less secure, more prone to compromise, more at risk from prying eyes. People have got to open their eyes and realise Cloud computing offers better security and protection against cyber crime than the DIY approach which is predominant in SME's today. "