In all the global debate around data privacy, the issue of cyber crime could be overlooked.

But global losses to cyber crime are thought to be in excess of $400 million.

If anything, the size of the threat is expected to grow rapidly as the number of new players using online skills to steal from companies or impact them in some form, rises sharply.

Companies implementing a cyber security strategy should not only invest in the right tools, but ensure board members take responsibility in combating online crime.

Finance directors need to be at the forefront of such a strategy.