Weekend chat: Traditional methods to tackle £750m fraud tsunami is like taking a knife into a gunfight February 19, 2022 From scam phone calls, text messages and emails, fake websites, falsified documents and fake insurance claims, fraud has become big business – and a big problem. In the first half of 2021, criminals stole a total more than £753m million through fraud, an increase of 30 percent compared to the first half of 2020, according [...]
‘Tech success story’: UK cyber security sector hits record £10bn in revenue February 17, 2022 Britain’s tech sector continues to break records as new government data shows more than 1,800 cyber security firms generated a total of £10.1bn in revenue in the most recent financial year, a 14 per cent increase from the previous financial year.
Cybersecurity: ‘To cripple UK, Putin does not need nuclear weapons’ February 4, 2022 The UK’s public sector needs to be “agile” in employing the government’s new cybersecurity strategy, according to analysts, amid fears of a Russian devised cyberattack. While the strategy, published last week, “looks good on paper” – there are significant areas of improvement, say experts. “To cripple the UK, Putin does not need nuclear weapons,” explained cybersecurity expert [...]
Why the Winter Olympics is an opportunity for cybercriminals February 1, 2022 Only domestic spectators will be able to attend the Winter Olympics when it begins this week, meaning there is likely to be significant global interest in the streamed productions – and therefore opportunity for cybercriminals. These cybercriminals look to take advantage by harvesting credentials from illegitimate websites, attempting to compromise devices via email campaigns, or [...]
UK is losing fight against fraud as anti-corruption watchdogs are “under-resourced” January 24, 2022 An anti-corruption think-tank has warned the UK is losing the fight against financial crime, as a lack of funding has left the country’s law enforcement agencies “over-stretched” and “under-resourced.” In a report, the think-tank called on the government to reinvest money recuperated from criminals into the government agencies fighting corruption and financial crime, as it [...]
Cyberattacks on the rise as skills shortage sees law firms made easy target January 20, 2022 Law firms, accountants, and consultancies are becoming an easy target for cyberattacks, as they lack the IT skills to protect themselves. Almost two-thirds (65 per cent) of IT experts working in professional services companies said they believe their firms are facing a shortage of cybersecurity skills, according to a report from cybersecurity company Keeper. In [...]
UK loses £2.5bn in fraud and cyber-crime cases during 2021 January 20, 2022 UK residents and businesses have seen financial losses of £2.5bn from fraud and cyber-crime over the course of the past year, a new study reveals.
New laws proposed to strengthen UK’s fight against cyber crime January 19, 2022 New laws are needed to drive up security standards in outsourced IT services used by almost all UK businesses, the government has said this afternoon.
Cybersecurity firm Pentera raises £110m as it gears up for US float January 11, 2022 Israeli cybersecurity firm Pentera has raised $150m (£110m) in its latest funding round, taking the company's value to $1bn (£736m), as it eyes up flotation.
Permira takes Mimecast private in £4.4bn all-cash deal December 7, 2021 Shares in Mimecast jumped more than 6 per cent in pre-market trading on the news that the British cybersecurity firm is being targeted by private equity firm Permira in a take-private deal valued at $5.8bn (£4.4bn). In the latest deal in what has been a very busy year for private equity interest in the tech [...]