By Polly Raymond, 10 May 1999 12:35
NEWS Growing fears about cyber-crime are boosting the European market for security systems, according to a report from IT consultants Frost & Sullivan. The group estimates the market could grow from $7.5bn to over $9bn in the next five years. Security managers are increasing budgets in this area as crime fears grow and insurance companies become increasingly technology aware. Many insurance firms are now writing more IT-related security conditions into policies. The report also notes that one in three losses are committed by staff, quoting evidence from high-street retail giant Marks & Spencer which claims to lose over $60m in staff fraud every year.
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