“We continue to face threats of illicit use of cyberspace and criminals will continue to materialise their abhorrent intents…no single country or profession can stand alone when faced with transnational and organised crime”
Opening address in Singapore to INTERPOL World 2017 by INTERPOL President Meng Hongwei, July 4, 2017.
Technology is turning traditional models upside down and indeed some are clearly, already broken. The adoption of technology is faster than ever before, leap frogging market or regulatory readiness. Data is more secure than ever before and will continue to be so, though many of the systems relying on this data may not be and most importantly, data sharing is not a technical challenge, it is a policy challenge.
One of the key takeaways from INTERPOL World 2017 was that cybercrime is significantly under reported to police. Continuing to be so is the fundamental reason why police investigations and response is being inhibited. Opening a panel session for the World Economic Forum Cybercrime Dialogue, Dr Jean-Luc Vez, Head of Public Security Policy and Security Affairs, World Economic Forum confirmed that action is needed to reduce the damage expected, with the cost of cybercrime in 2016, US$450 billion and by 2020 on the trajectory to cost US$3 trillion. In a recent global survey by the World Economic Forum, 74 per cent of world business expect to be hacked in the coming months. “What is business doing now? Is it possible to fight against this threat or lay back with sand bags and wait?”…Click HERE to read full article.
