The United Kingdom is suffering a cybercrime wave that has seen online financial fraud jump 20 percent, according to a new report.
Reports of cybercrime in the United Kingdom rose 9 per centover 2007, according to the U.K. Cybercrime Report by online identity company Garlik, which compiled government, police and analysts statistics.
Internet and e-mail fraud saw the largest hike, jumping to 250,000 incidents in 2007 from 207,000 in 2006.
Garlik CEO Tom Ilube attributed the rise to the "professionalization of online financial fraud" saying cybercriminals were turning to "sophisticated and professional techniques for trading and selling personal data for financial gain".
But there could be some hope on the horizon. Speaking at the RSA Conference 2008 in London, Microsoft chief security adviser Ed Gibson, who helped advise government on the newly formed Police Central E-crime Unit (PCEU), described the unit as a "giant step forward for the [United Kingdom]" in tackling this type of everyday Internet fraud.
He said: "There was a lack of reporting mechanism, now U.K. consumers can feel comfortable they will have a reporting mechanism with the PCEU."
The Garlik report uncovered an explosion of black-market sites trading stolen U.K. identities and financial details, rising from 27 to 57, with more than 19,000 illicit traders having been identified.
Online identity theft dropped by 8 percent to affect just over 80,000 victims, while computer misuse offenses--such as hacking and the spreading of viruses--affected 132,800 people compared to 144,500 in 2006, and the number of online sexual offenses fell by 2 percent to 830,000, the report said.
Ilube said in a statement: "The startling growth and professionalization of online financial fraud is the big story coming out of this year's study."
Nick Heath of Silicon.com reported from London.
Play video
There are currently no comments for this post.