Cost of cybercrime surging

PwC highlights 33% rise in average loss in Chinese mainland and HK

Financial losses caused by cybercrime have soared in China and across the world this year, caused mainly by a lack of security strategies by many companies, according to global accounting firm PricewaterhouseCoopers LLP.

The company said that the average annual financial loss resulting from cybersecurity incidents in the Chinese mainland and Hong Kong increased by 33 percent year-on-year in 2014 to $2.4 million, and that across the world rose 34 percent to $2.7 million.