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Date: April 29, 2024 Mon
Time: 9:38 pm
Time: 9:38 pm
Results for computer fraud
5 results foundAuthor: Smith, L. Murphy Title: Cyber Crimes Aimed at Publicly Traded Companies: Is Stock Price Affected? Summary: E-commerce has been a boon for business. A great deal of business activity now occurs in the realm of cyberspace on the Web. The downside of cyber-business is cyber crimes, also called electronic crime or simply e-crime. Cyber crime costs publicly traded companies billions of dollars annually in stolen assets and lost business. Further, when a company falls prey to cyber criminals, this may concern customers who worry about the security of their business transactions with the company. As a result, a company can lose future business if it is perceived to be vulnerable to cyber crime. Such vulnerability may even lead to a decrease in the market value of the company, due to legitimate concerns of financial analysts, investors, and creditors. This study first provides an overview of common cyber crimes. Second, a review is made of specific cases of publicly traded companies in news stories concerning cyber crime. Third and last, the impact of cyber crime news stories on companies’ stock price is analyzed. Results suggest that not only can cyber crime cost a company directly in stolen assets, lost business, and reputation, but also can affect the company’s stock performance, at least in the short run. Consequently, companies must do all that they can to avoid becoming a victim of cyber crime. Details: College Station, TX: Texas A& M University, 2009. 21p. Source: Internet Resource: Accessed October 28, 2010 at: http://www.upf.go.ug/cyber_crime.pdf Year: 2009 Country: United States URL: http://www.upf.go.ug/cyber_crime.pdf Shelf Number: 120110 Keywords: Computer FraudCybercrime |
Author: British Retail Consortium Title: Future Online Security: Tackling eCrime and Fraud Summary: The growth of e-commerce and corresponding opportunities for increasing fraudulent behaviour should not be underestimated. Retailers need to be sure that as they seek to expand their businesses via e-commerce the customers they attract will be well protected. Retailers invest significant resources in protecting their customers. But too often, the current law enforcement response to eCrime and fraud is inadequate. The BRC is calling for a dedicated national unit tasked to investigate and respond to the increasing levels of eCrime. Engagement between the private sector and law enforcement agencies should be focused on finding the most effective way to achieve a better response to eCrime and fraud. The focus must be on finding ways in which the public and private sectors can work more effectively together to reduce the level of offending and to raise consumer confidence. The value of internet retailing in 2009 was £18.5 billion. The value for 2010 to date (January to the end of October 2010) was £17 billion. This was a 21 per cent increase when compared to the same period in 2009. The BRC has undertaken this study to ensure that this important growth area of the economy is adequately policed and protected. Details: London: British Retail Consortium, 2010. 16p. Source: Internet Resource: Accessed October 14, 2012 at http://www.brc.org.uk/trct/downloads/Future%20Online%20Security.pdf Year: 2010 Country: United Kingdom URL: http://www.brc.org.uk/trct/downloads/Future%20Online%20Security.pdf Shelf Number: 126699 Keywords: Computer CrimesComputer FraudCybercrimesInternet Crime |
Author: Levi, Michael Title: eCrime Reduction Partnership Mapping Study Summary: High quality data on eCrimes are hard to find, both nationally and internationally. This makes rational policy decisions for both public and private sectors – which anyway are interdependent in both directions – even more difficult than they would otherwise be, as nation states grapple falteringly with transnational crimes and with transnational legal processes, priorities and scarce resources. • The majority of eCrime data collection practices adopt sub-standard methodologies that produce a very partial picture of the problem. Large government surveys, such as the Crime Survey for England and Wales (formerly the British Crime Survey), the Offending, Crime and Justice Survey and Commercial Victimisation Survey only intermittently include questions that relate directly to eCrimes, though the CSEW and the Scottish Crime and Justice Survey have looked regularly at card and identity crimes, and fear of them, and have found that identity thefts arouse more concern than do other crimes. Identity thefts can occur offline, but it seems plausible that when responding, people will be thinking about online data ‘theft’ from hacking or social engineering. eCrime questions in European surveys, such as the Community Surveys on ICT Usage, have been found to be unreliable. Vendor sources, such as private security surveys, are often based on breach data identified by vendor software, resulting in partial datasets. Official criminal justice related datasets rely on both reported and officially recorded incidents of eCrimes, while even good administrative data in the private sector (e.g. UK Payments, CIFAS Fraud Prevention Service) cannot avoid excluding unidentified eFrauds (for example in the large category of ‘bad debt’). In the UK only the Oxford Internet Surveys and the Information Security Breaches Survey (pre-2010) produce eCrimes data that are of gold-standard methodologically: however neither of them survey or estimate direct or indirect economic losses from eCrimes. • The introduction of security breach notification requirements to some UK public and private sector organisations in May 20111 may provide a more robust evidence base on eCrimes breaches. It is however too early to assess the quality of this new data stream that is only recently under the coordination of the Office of Communications (Ofcom) and the Information Commissioner’s Office (ICO). • Based on the best data available, an upward trend is evident for both domestic and business related eCrimes. The Information Security Breaches Survey (2010) indicates a sharp upward trend in all business eCrimes compared to 2008 data. While less extreme, the upward trend in domestic data as recorded by the Oxford Internet Survey (2011) applies to all eCrimes other than obscenity. • Independent of actual levels of fraud, there is high public anxiety about eCrimes, and such anxieties require ‘reassurance policing’ that contains both real responses to experienced crimes and a range of public and third party measures to guide sound as well as just profitable risk-reduction practices. Details: Cardiff, Wales: Cardiff Centre for Crime, Law and Justice Cardiff School of Social Sciences, 2012. 85p. Source: Iinternet Resource: Accessed November 28, 2012 at: http://dpalliance.org.uk/wp-content/uploads/2012/09/20120910-eCrime_Reduction_Partnership_Mapping_Study.pdf Year: 2012 Country: United Kingdom URL: http://dpalliance.org.uk/wp-content/uploads/2012/09/20120910-eCrime_Reduction_Partnership_Mapping_Study.pdf Shelf Number: 127027 Keywords: Computer Crime (U.K.)Computer FraudCrime SurveysIdentity TheftVictimization SurveysWhite-Collar Crime |
Author: European Cybercrime Center - Europol Title: Police Ransomware Threat Assessment Summary: Over the past two years, European Union (EU) Member States (MS) have been confronted with a significant proliferation of police ransomware cases. Experts from both law enforcement and the private sector agree that prevention and raising awareness can only work in conjunction with investigations targeting the criminals behind the fraud. Furthermore, even if police ransomware in its current form might naturally fade out in the future, it is likely that an evolution of this modus operandi driven by the same or different perpetrators will take place. That is why it is important that measures against police ransomware and similar modi operandi are implemented in a coordinated, complementary and comprehensive manner. This assessment is the result of a common initiative of the European Cybercrime Centre (EC3) and the Dutch National High Tech Crime Unit (NHTCU). Its aim is to increase awareness of ransomware by providing an EU perspective on the problem and to identify opportunities for intervention and coordination. The assessment encourages better coordination and cooperation between MS law enforcement agencies from the early stages of cybercrime investigations and acknowledges once more the importance of partnering with private industry. This threat assessment relies on open source information, research papers on ransomware and semi-structured interviews with cybercrime investigators. Details: The Hague: European Cybercrime Centre (EC3), 2014. 13p. Source: Internet Resource: Accessed June 5, 2014 at: https://www.europol.europa.eu/sites/default/files/publications/policeransomware-threatassessment.pdf Year: 2014 Country: Europe URL: https://www.europol.europa.eu/sites/default/files/publications/policeransomware-threatassessment.pdf Shelf Number: 132417 Keywords: Computer FraudCybercrime (Europe)Threat Assessments |
Author: Levi, Michael Title: The Implications of Economic Cybercrime for Policing Summary: London, as one of the world's leading financial centres, had a daily turnover in the foreign exchange market of L2,626 billion in April 2013 - all dependent on a highly interconnected electronic infrastructure and supporting technology. Yet this same technology that underpins and enables these global transactions also opens up businesses and individuals to new risks, in particular relating to cybercrime. The introduction of sophisticated technology has brought about a step-change in the way economic crime is committed - enabling frauds to be perpetrated at scale, at great speed, and at a distance, with no physical contact necessary between criminal and victim. It can be much harder to identify the individuals initiating crime, and often the location will be outside UK jurisdiction. These factors have resulted in a sharp escalation of such activities in recent years, bringing new challenges for policing and industry in preventing and tackling such crime. The City of London Police is the National Policing Lead for Economic Crime, and is playing a key role in proactively addressing these challenges including developing a national strategy. One major challenge has been coordinating information about criminal activity where this can be geographically widely dispersed. In addition to investigating some of the most serious frauds in the country, the City of London Police hosts the national reporting database - Action Fraud. This current research piece undertakes new analysis of data held by Action Fraud and its partner unit, the National Fraud Intelligence Bureau (NFIB) also hosted by the City of London Police. It finds that between October and December 2014 alone there were 106,681 reported fraud cases, a third of which related to banking and credit industry frauds. The median amount lost to fraudsters across all fraud types ranged from L112 lost through misuse of contracts in the telecom industry, to 38,974 lost from pension fraud. However the annual 250,000 crime reports received present only a limited view of several million crimes that are taking place within the UK annually to the cost of some $30billion. Under-reporting presents a challenge both in terms of research and policy responses. City of London Police initiatives to reduce fraud include training both the private and public sector in specialist skills through their Economic Crime Academy, piloting a focused victim care unit in London - the Economic Crime Victim Care Unit - and working closely with law enforcement across the UK to share information and co-ordinate action. Most importantly they include the formation of new national police fraud and cyber strategies focused on prevention at a national and local level. This research report highlights the necessity of working in partnership, both around primary prevention and building in security protection, and working with other agencies to disrupt criminal activities and pursue and prosecute offenders. Details: London: City of London Corporation, 2015. 96p. Source: Internet Resource: Accessed February 8, 2016 at: https://www.cityoflondon.gov.uk/business/economic-research-and-information/research-publications/Documents/Research-2015/Economic-Cybercrime-FullReport.pdf Year: 2015 Country: United Kingdom URL: https://www.cityoflondon.gov.uk/business/economic-research-and-information/research-publications/Documents/Research-2015/Economic-Cybercrime-FullReport.pdf Shelf Number: 137785 Keywords: Computer CrimesComputer FraudCybercrimesEconomic CrimesFinancial CrimesInternet CrimesPolice Technology |