80% of online crimes go unreported

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City of London police commissioner Adrian Leppard has suggested that the threat posed by cyber criminals is much greater than figures would have people believe, with many cases of online crime still going unreported.

Last month it was discovered that 81% of large UK firms have experienced a security breach in the last 12 months yet only 2% had insurance whilst a quarter of small businesses thought cyber security wasn’t worth the cost of implementation. So it poses the question as to why cyber-crime is so overlooked?

Lack of resources trigger a lack of cybercrime response

The London Police Chief identified that hackers are still proving elusive which highlights the increase risks for businesses without online crime protection.

As IT security website SC Magazine reports, Leppard also said that police are failing to stay a step ahead of hackers due to a lack of available resources.

Speaking at a TechUK event in London this week, Leppard claimed that 80% of online crimes go unreported, with only one in five of the 20% that are reported receiving a “proper” response from law-enforcement agencies.

Leppard went as far to say that cybercrime is overtaking the drugs trade, according to reporters at the event – with cyber criminals revelling in the elusive nature of their attacks.

What’s being done to combat online crime?

Kevin Williams, who has previously worked for the National Cyber Crime Unit (NCCU) under the National Crime Agency (NCA), said funding to combat cybercrime has ramped up in recent years, but it’s still not proving enough to address the problem.

“There has been an investment in improving law enforcement numbers at the national and regional level to respond to the threat of cybercrime. That gap still remains at the local level,” he told SC Magazine.

Williams believes that better education is required, too, particularly on directing people to the Action Fraud reporting website, as well as advice sites such as Get Safe Online and Cyber Streetwise.

“We need to help the potential victims to help themselves,” he stressed.

He concluded by emphasising how important it is that the next government “invests wisely in cyber security”, with the general election less than a month away.

Source: SC Magazine UK 

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Passionate about all things marketing. Louise is a chartered marketer who believes in a customer-focused approach to business.