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The cost of cyber-crime.

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#1 Chris Cosgrove

Chris Cosgrove

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Posted 25 July 2016 - 05:13 PM

It has been said that if you want to rob a bank don't use a pistol and a mask, hack their computers instead. It's much safer and has a considerably lower risk of doing serious time. It's also more profitable.


The UK's Office of National Statistics (ONS) has been looking at this area for a while and has finally moved to include cyber-crime in the National crime statistics and they make frightening reading. According to ONS cyber-crime makes up 40% of all reported crime. Of the 5.8M incidents reported in the year to March 2016 68% involved malware, 32% was due to hacking or unauthorised access.


This aggregation from the individual is quite scaring. In the last 18 months alone I have had five credit cards cloned or otherwise misused and i am careful with them and this of course was only found out when strange transactions took place. And of course these are not victimless crimes. The fraud on my credit cards puts up the cost of using them through higher interest charges. Major fraud on banks reduces their ability to pay dividends which comes back on their investors who in many cases are our pension funds and insurance policies through the issuing companies.


Keep up the fight against malware, maintain the security of your systems and data !


Article :-  http://www.theregister.co.uk/2016/07/25/uk_cybercrime_stats_crim_figures/


Chris Cosgrove

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