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A survey by U.S.-based Grant Thornton L.L.P. has found that cyber attacks cost global businesses more than £200 billion ($310.14 billion) annually, reported City A.M.
The survey found that the financial sector is the most exposed sector to cybercrime.
Cyber attacks have hit about 26% of financial firms in 2014.
About 15% of global businesses were victims of cyber attacks in 2014.