A university deal to train a new generation of experts in fighting off criminal and terrorist IT attacks has been agreed at a conference on cyber security in Cardiff.

The summit came to the conclusion that the UK and US need to produce many thousands of people with this expertise within the next couple of years.

The UN, US defence department, Microsoft and IBM were all represented at the University of Wales event.

In the UK, online criminal activity is costing the economy up to an estimated £27bn each year.