Mr Wallace said the attack had been "very potent" and had spread very quickly, adding: "It's not about a billion pounds in this infrastructure or that infrastructure".
Europol said a special task force at its European Cybercrime Centre was "specially created to assist in such investigations and will play an important role in supporting the investigation".
The ransomware, called "WannaCry" exploited a flaw in a version of Microsoft Windows to encrypt and take control of a user's files and demand United States $300 to restore access to the files.
Payment is demanded within three days or the price is doubled, and if none is received within seven days the files will be deleted, according to the screen message.
Experts and governments alike warn against ceding to the demands and Wainwright said few victims so far had been paying up.
Experts and officials offered differing estimates of the scope of the attacks, but all agreed it was huge.
More than 200,000 victims in around 150 countries have been infected by the ransomware which originated in the United Kingdom and Spain on Friday before spreading globally.
The health service has been criticised for using the outdated Windows XP operating system to store digital information, despite security updates for the software having been discontinued by Microsoft.
Tennis Program alerted police — Georgia Bulldogs
This comes after two associate head tennis coaches, one from the women's team and one from the men's team, were suspended. He confirmed to Towers that he did report the incident to school AD Greg McGarity but did not go into any more details.
It has crippled Britain's health system - with stroke victims unable to undergo urgent surgery because their scans could not be accessed - and affected other businesses around the world.
Though a British security researcher "MalwareTech" managed to stop the spread of the virus, hackers have issued new versions that cybersecurity organisations are trying to counter.
Microsoft said the situation was "painful" and that it was taking "all possible actions to protect our customers". Spain's national cryptology centre had earlier announced that the "massive ransomware attack" targeted the Windows operating system by "encrypting all its archives and all the connected units inside the network, and infecting the rest of the Windows systems inside the network". The NSA tools were stolen by hackers and dumped on the internet.
"The fact that so many computers remained vulnerable two months after the release of a patch illustrates this aspect", he said in a blog post. Universities in Greece and Italy also were hit.
Nick Savvides from cyber security firm Symantec says Australians are not immune to such attacks. Taiwan's government appeared to have escaped major infection, possibly because regulations there require all departments to install software updates as soon as they are available. Cyber security experts say the spread of the virus dubbed WannaCry - "ransomware" which locked up computers in vehicle factories, hospitals, shops and schools in several countries - has slowed, but that any respite might be brief. Capitalizing on spying tools believed to have been developed by the US National Security Agency, hackers staged a cyber assault with a self-spreading malware that has infected tens of thousands of computers in almost 100 countries.
"You are dealing with a criminal", he said. "There were the same attacks applied to Nissan on Friday and in other areas of the economy and indeed around the world", Fallon said.
Following a meeting of the Government's Cobra contingencies committee, Home Secretary Amber Rudd said more than a million patients had been treated in the course of Monday.
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