Business leaders in Britain are being advised by the government about the ways in which they can combat the threat of cyber attacks, which can undermine activity to the tune of £21 billion per year. As a response to the threat, GCHQ - the communications intelligence agency - has confirmed that it will tell companies to adopt a more security-conscious approach to operations.
A number of industries have been victim to such attacks over the last 12 months, including banks, manufacturers and energy suppliers. The government has also seen its operations undermined by technical failings and is, therefore, determined to tackle the concern head-on.
Despite this, a survey conducted earlier this year suggested that the majority of businesses - often ignorantly - believe that they are resistant to cyber security problems. Indeed, around nine out of ten UK businesses were very or fairly confident about their defences, the survey by BAE Systems Detica said.
Owing to the misplaced confidence of business leaders, Iain Lobban, the head of GCHQ, has resolved to inform them of the range of threats that exist and potential financial ramifications of any security breaches.
While cybercrime cost the country £21 billion last year, there is good reason to believe that this figure will climb if something is not done to address the threat. Among those in attendance at the meeting will be William Hague, the foreign secretary, and Vince Cable, business secretary.
Full details of what the speech will entail have yet to be revealed, but speculation has suggested that the business leaders will be made aware of specific examples of where companies have hemorrhaged masses of money on account cyber security issues.
By doing this, Mr Lobban will hope to ensure that fewer companies fall into the trap of taking their security for granted. They will also be made aware of how they can get help with their cyber security concerns.