EU's cybersecurity budget up 14%

The European Commission fails to show conviction on fighting cybercrime

Despite vowing that fighting cybercrime is high on its agenda, the European Commission increased its planned cybersecurity budget by just 14 percent through 2020, an amount one security expert referred to as "paltry."

For the period 2007-2013, the Commission allocated ¬350 million (US$454 million) for cybersecurity research, but only added an extra ¬50 million to cover the years from 2013 to 2020, it announced Monday.

Rik Ferguson, director of security research and communication at TrendMicro, who called the 14 percent increase "paltry," said that "the commercial security industry is already pooling resources with not-for-profit organizations, and government has made much of the risk from cybercrime. It's time to make the commensurate investment."

The total ¬400 million allocated for cybersecurity will go toward funding more than half a dozen projects, including Syssec, a Europe-wide network that works on developing ways to predict threats and vulnerabilities; Nessos, which creates secure service architectures and secure service design; the SecureChange project, which tests new parts of software for any security issues; and Tclouds, which has the goal of building trustworthy clouds.

The budget must also stretch to securing data, so the Ecrypt II project brings together 32 leading research institutes, universities and companies to develop improved tools and more robust algorithms for digital signatures.

According to the Commission, around 150,000 viruses or malware are loose on the Internet at any given time, infecting more than 1 million people every day. Antivirus giant McAfee counts 75 million unique pieces of malicious malware code on its databases, with botnets spewing out spam that account for a third of all the emails sent every day. The worldwide cost of cybercrime is estimated at more than ¬750 billion annually in wasted time, lost business opportunities and the expense of fixing problems, according to the Commission.

An additional ¬450 million has been earmarked for so-called Secure Societies research, which includes aspects of cybersecurity.

Follow Jennifer on Twitter at @BrusselsGeek or email tips and comments to jennifer_baker@idg.com.

Join the PC World newsletter!

Error: Please check your email address.

Tags business issueseuropean commissionsecuritygovernment

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jennifer Baker

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?