In the UK financial sector, cyber security is now only second to political risk as one of the key challenges facing the industry. As crime, extortion, blackmail and fraud move online, cyber crime has become big business, with its global impact exceeding $450 billion a year. 

In this joint report with UK Finance, we explore how greater cooperation both within businesses and between firms, law enforcement and Government is central to tackling the growing threat of cyber crime.

We believe that to be effective in addressing this risk, businesses across all sectors must:

• Change their approach to a community-based and comprehensive one in order to disrupt the criminal ecosystem;
• Understand the threat from the perspective of ruthless and rational cyber entrepreneurs;
• Work together across the financial community, key industries, law enforcement and governments to break the business models of cyber criminals.

You can download the UK Finance and KPMG report Staying ahead of Cyber Crime here.