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24/02/2004
UK firms increasingly targeted by high-tech crime
The head of the UK's National Hi-Tech Crime Unit (NHTCU) has told delegates attending the second E-crimes Congress in London that hi-tech crimes are costing businesses hundreds of millions of pounds.
Detective Chief Superintendent Len Hynds said that while it was too early to put an accurate figure on the financial costs, it could even be "billions rather than millions".
A recent survey indicated that the costs incurred by businesses in the past year in attempting to secure networks against viruses and other cyber threats was estimated to have cost in excess of £195 million.
But the real problem, Mr Hynds said, was the cost of high-tech fraud against businesses - this was estimated at over £120 million.
The survey showed that in just two cases of fraud, companies had lost £60 million. Denial of service attacks had been reported by 20% of the companies responding to the survey. But worryingly almost one-third of the respondents indicated that they had no official computer crime team.
Formed with responsibility for the development and implementation of a centre of excellence to combat hi-tech crime and delivery of benchmark standards for all local computer crime units within England and Wales, the NHTCU works to combat national and transnational serious and organised hi-tech crime both within, or which impacts upon, the UK.
Crimes targeted include software piracy, hacking and virus attacks, fraud, blackmail and extortion, on-line child abuse, and Class A drug trafficking.
Around 400 delegates are expected to attend the two-day E-crime Congress, which provides an expert forum for law enforcement agencies, computer security specialists and businesses.
(SP)
Detective Chief Superintendent Len Hynds said that while it was too early to put an accurate figure on the financial costs, it could even be "billions rather than millions".
A recent survey indicated that the costs incurred by businesses in the past year in attempting to secure networks against viruses and other cyber threats was estimated to have cost in excess of £195 million.
But the real problem, Mr Hynds said, was the cost of high-tech fraud against businesses - this was estimated at over £120 million.
The survey showed that in just two cases of fraud, companies had lost £60 million. Denial of service attacks had been reported by 20% of the companies responding to the survey. But worryingly almost one-third of the respondents indicated that they had no official computer crime team.
Formed with responsibility for the development and implementation of a centre of excellence to combat hi-tech crime and delivery of benchmark standards for all local computer crime units within England and Wales, the NHTCU works to combat national and transnational serious and organised hi-tech crime both within, or which impacts upon, the UK.
Crimes targeted include software piracy, hacking and virus attacks, fraud, blackmail and extortion, on-line child abuse, and Class A drug trafficking.
Around 400 delegates are expected to attend the two-day E-crime Congress, which provides an expert forum for law enforcement agencies, computer security specialists and businesses.
(SP)
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