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Fraud Indicator Report Puts IT Security In the Spotlight

InfoSecurity Europe : 05 April, 2012  (Technical Article)
Infosecurity Europe event organisers discuss the recent UK government report on annual fraud in the country which places the bill at 73 billion pounds
Fraud Indicator Report Puts IT Security In the Spotlight
With just three weeks to go before the Infosecurity Europe 2012 show opens its doors for a three-day run in London, the event organisers have welcomed the timely release of the Government's Annual Fraud Indicator 2012, which puts the losses to the UK economy from fraud at a hefty £73 billion.

According to David Rowe, CISSP, a member of the Infosecurity Europe Advisory Council and Head of Business Services for Reed Exhibitions - the organisers of the Infosecurity Europe show - this year's report analysis methodology is much improved on previous years, resulting in a higher fraud estimate for the UK economy as a whole.

"This puts the total cost of fraud in the UK at just under 3.0 per cent of GDP (gross domestic product) [see note 1] which is a pretty frightening figure, especially when viewed against the fact that payment card fraud is now at a ten-year low ( of less than a tenth of this percentile," he said.

"The key conclusion that one draws from this report is that fraud is endemic in modern business and - as most IT security professionals will concur - it is cybercrime that is helping to push the levels of fraud ever higher in both business and consumer terms. The good news is that, just as security technology has helped to reduce card fraud by 45 per cent over the last three years, so technology can also help to reduce fraud in modern businesses too," he said.

The Infosecurity Europe 2012 Advisory Board member went on to say that this is why the Infosecurity Europe event team, in conjunction with their Advisory Council, has spent the last eleven months putting together an unrivalled free education programme that spans all three days of the show - and when the event opens its door on April 24th, attendees will be treated to a multi-theatre series of information presentations, panel discussions and seminars, running throughout the length of the event.

Alongside a range of seminars and discussions being held in the Keynote and Business Strategy Theatres, the Information Security Exchange, Security Workshops and Technology Showcase Theatre, the Technical Theatre will see a range of presentations taking place, many of which will assist attendees in developing a better set of anti-fraud strategies within their organisations.

On day one of the Infosecurity Europe 2012 show, he says, we have a presentation entitled `Spear Phishing: The Truth Behind Night Dragon, Aurora & APT' with Rohyt Belani, CEO & co-founder of PhishMe, detailing the latest trends in phishing technology.

Later in the morning, we have Andy Kemshall, co-founder of SecurEnvoy explaining how `Tokenless Authentication Put The User In Control,' followed by a lunchtime presentation on `The Insider's View To Insider Threats' by Amichai Shulman, CTO & Co-Founder of Imperva.

In the afternoon, he adds, we have Dr. Stefan Frei, a Research Analyst Director with Secunia, giving a presentation entitled `How Can A CIO Secure A Moving Target With Limited Resources?' followed by Lee Lawson, a Solutions Architect with Dell SecureWorks discussing `Responding To The Advanced Persistent Threat.'

On Wednesday morning, meanwhile, Christiaan Brand, CTO with Entersekt, will be talking about `One Time Passwords Are Dead - What's Next?' with Andy Dancer, CTO with Trend Micro EMEA, giving a lunchtime presentation on `APT Defence & Cloud Security - Identical Twins?' followed by Wolfgang Kandek, CTO of Qualys on ` Make Your Pen Tester Work Harder For Your Money' and - later in the afternoon - `The Dark Side Of Social Networks: Malware & Fraud' with Dr. Paul Judge, Chief Research Officer of Barracuda Networks.

The third day in the Technical Theatre kicks off with `Five Security Secrets Your IT Administrators Don't Want You To Know' and Philip Lieberman, CEO of Lieberman Software - followed by a lunchtime presentation with Tom Cross of IBM's X-Force operation - who will be discussing `2011 Was The Year Of The Security Breach... What Are The Security & Risk Trends For 2012?' and `Security In A Virtualised Environment: An Ethical Hacker's View' with Peter Wood, CEO of First Base Technologies LLP and an ISACA SAG.

Later in the afternoon, the final Technical Theatre presentation of the shows comes from Cathy Brode, Director of Corporate Markets with Litéra Corporation, on `Consumer Devices & The Enterprise - 'Bring Your Own Disaster!'

This packed schedule, says Rowe, will help IT security professionals to better understand some of the many solutions that exist to help make their job a lot easier and - in doing so - assist those same professionals in mapping out their security strategies for the next  12 months and beyond.

"Against the backdrop of a fraud level running at a shade under 3.0 per cent of UK GDP, it is clear that IT security professionals need every assistance they can get - and this is where the superb Infosecurity Europe 2012 education programme enters the frame," he said.

"As this Government report clearly shows, fraud is a big problem for the UK as a whole, but with a better understanding of the technology to counter cybercrime and malware generally, IT security professionals can come to Infosecurity Europe on April 24 - 26 and learn how to better defend their digital assets against these rising levels of fraud," he added.
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