The document discusses the business of cybercrime, including an overview of fraud and risk services, an introduction to cybercrime, examples of cybercrime such as information theft, and advice on prevention and response. Key points include that cybercrime costs the UK economy £27 billion annually, 75% of UK organizations experienced data loss in the previous year, and prevention recommendations include implementing risk registers and ongoing training.

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The Business of Cybercrime°
Fraud & Cybercrime Forum
Arun Chauhan & Toyosi Ajimoko
The Business of Cybercrime
19 May 2014

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Overview
• Fraud & risk services
• Introduction to cybercrime
• The threat of cybercrime
• Information theft
• Examples
• Prevention advice
• Fraud response
• The legal response
• Q&A
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• F R U D
• Finding out what went wrong when all seemed right
Fraud and risk services
A

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• Fraud prevention advice & training
• Fraud investigation
• Reaction & recovery
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Fraud and risk services

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Cybercrime is a term used for any illegal activity that uses a computer or the internet
as its primary means of commission to include any activity that uses a computer as a
storage device.
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What is Cybercrime?

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• 80% of us are referenced online
• 4.1bn installed email accounts by 2015 – corporate accounts 25%
• Corporate email users send and receive an average of 120 emails per day (2014)
• 1.73bn social media users worldwide (2012) – 2.55bn forecast in 2017
• 1.19bn people logging into Facebook per month (2013)
• 500m tweets per day (October - 2012)
• 74% of email traffic sent in 2012 was spam
• 16% of these spam emails will be delivered to corporate email inboxes despite spam
filters (2014) filters
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Why is Cybercrime such an issue

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• Cybercrime is estimated to cost the UK economy £27bn per annum (Cabinet Office &
Detica, 2011)
• 75% of UK organisations experienced data loss in the year up to June 2011
(Checkpoint Software Technologies survey)
• Government Communications HQ guidance
• The number of High Court cases relating to the theft of confidential information
rocketed by 250pc between 2010 and 2012 – 167 cases in 2012
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The impact of Cybercrime

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The practical impact of Cybercrime
Loss of
revenue
Management
time
Impact on
productivity
Network
failures
Investor
loss of
confidence
Reputational
loss
Compromise
& loss of
data
Loss of
IP
Impact on
Business

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• Information theft
• Extortion
• Corporate identity theft
• Reputation attacks
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Examples of Cybercrime

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• Theft of confidential data
• Theft of intellectual property
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Information theft

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Internal
• Password protection
• Access levels
• Temporary staff
• Mobile technology
• Social media
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Information theft methodology

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External
• Organised crime groups
• Competitors
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Information theft methodology

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• Theft of data
• Account takeover fraud
• What would you do?
Examples
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• Risk registers
• Fraud prevention plans
• Ongoing training
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Prevention

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• Fraud response plans
• IT response
• Insurance
• Reassess risk
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Response

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• Act quickly
• Can the perpetrators be identified
• Set out your objectives
• Financial means of the target defendants
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The legal response

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• Injunctions
• Search Orders
• Non-Party Disclosure Orders
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The legal response

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Q&A
• Any questions or issues to discuss?

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Values
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Contact Details
Arun Chauhan
DWF LLP
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Email: Arun.Chauhan@dwf.co.uk
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