Tuesday 7 November 2023

In association with

Cybercrime is the scourge costing the world economy an eye-watering $8 trillion this year, and the UK is not immune to it. Every day, individuals and organisations fall victim to cybercriminals, causing misery and significant loss of earnings. Those cyber criminals have harnessed the characteristics of the Fourth Industrial Revolution – scale, velocity and systems disruption – to maximise value from their nefarious acts. Criminals have evolved their activities to exploit the latest technological advantage and establish increasingly sophisticated business models. Fraud, extortion, and theft are not new phenomena, but the scale and speed at which criminals can now operate is.

Cybercrime is not just an issue for society, as the National Cyber Strategy reflects. It is also an issue for enterprises, which are the most lucrative target of criminals. Ransomware, extortion, IP theft, fraud, credential compromise – all impact businesses. We focus on cybercrime’s impact on business, identity and its value to bad actors, the potential of AI for criminals, and the methods we can employ to reduce our vulnerability to fraud.  The fight against cybercrime is crucial to make our society more resilient and one in which we all, including businesses, have a considerable stake.