Amid an alarming rise in the number of computer hacking cases, Chris Forsyth and Laurence Kalman look at the latest European and US initiatives to tackle cyber crime – and why law firms should remain vigilant

Cyber security is grabbing the headlines, and it is easy to see why. The figures are startling. Reports indicate that cyber crime costs the UK economy up to £27bn each year, with the worldwide annual cost reaching around $388bn (£253bn). As mobile devices proliferate and cloud computing continues to develop, the threat presented by the hackers grows ever more acute.