The Conservative Party has unveiled proposals for a new cybersecurity minister to help tackle online crime.

Shadow home secretary David Davis has launched a report that looks at the threats posed by cybercrime and proposes measures to tackle this growing problem Speaking at the 2008 E-Crime Congress in London, Davis described cybercrime as a "serious threat to individuals, business and government" and accused Labour of having ignored the issue.

The report outlines a number of proposals to tackle cybercrime, including creating a national hi-tech crimes police squad, forming a dedicated cybercrime team within the Crown Prosecution Service and appointing a single minister responsible for cybercrime.

"Cybercrime is a growing and serious threat to individuals, business and government," said Davis. "It is a problem that will continue to escalate as technology changes."

The report, titled 'Cybercrime in the UK', called for a review of existing legislation "to ensure that it provides effective sanctions and offences to deal with developing cybercrimes".

New laws could also include an obligation on financial service companies to report all malicious security incidents that affect their computer systems. Companies and firms that hold personal data on individuals would be required to report any suspected incidents of hacking into their systems.