Date Published: 7th July 2016

The UK’s National Crime Agency (NCA) has reported this week that businesses and law enforcement agencies are losing the battle against cybercrime against its perpetrators.

The NCA added that the technical capabilities of criminal gangs are outpacing the UK’s ability to deal with their threat.

Last year, there were 2.46 million ‘cyber incidents’, with the biggest threat coming from just ‘a few hundred’ criminals’. Of these crimes, over 700,000 were frauds.

 A significant threat is from international gangs, some of which are so well-developed that they run call centres and employ translators. Other threats to cyber security also include lone criminals and hacktivists.
These cyber-attacks tend to target UK businesses to in order to commit highly profitable malware-facilitated fraud.  These attacks also include those directly targeting business systems and attacks against individuals.

The NCA warned that the accelerating pace of technology and criminal cyber-capability development currently outpaces the UK’s collective response to cybercrime.

With cybercrime being considered a key threat to the UK, it is certainly reassuring to hear that the government plan to spend £1.9bn on cyber-defences over the next five years.  A National Cyber Security Centre is also being planned, as well as the government working with internet service companies in order to block online attacks.

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