Cyber attacks are a threat to all businesses today, according to David Willetts, minister of state for universities and science.

He made the comments during the launch of a new initiative to raise awareness of cyber threats in the corporate finance sector.

Corporate finance transactions, he added, are an important and vibrant element of the economy.

"The very features of a corporate finance transaction that help to create this value - the involvement of different professional advisers and financiers, the multiple flows of information and data - also create vulnerabilities that can be exploited.

"Sharing so much information so widely, above and beyond the daily course of business, presents a real challenge," Willetts said.

A Government taskforce, set up to tackle cyber-security threats, has developed a new guide which outlines key risks and how companies can manage or eliminate them.

Willetts said that the publication offers practical steps that those involved in corporate finance transactions can take to protect themselves from cyber risks.

"It builds on approaches to risk management already undertaken in corporate finance, including a focus on due diligence.

"It is aimed at the corporate finance community, the wide range of finance houses and professional advisers typically involved in a corporate finance transaction. It also aims to help companies that are seeking to raise capital in some way," he explained.

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