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Cobbetts and Netshield Highlights Cybercrime Dangers


Law firm Cobbetts LLP this week highlighted the risk of cybercrime at a breakfast seminar held at its Birmingham office, in association with Netshield Ltd. Cybercrime is estimated to cost the UK economy £27bn per annum, with £21bn being the cost to UK businesses in 2011.
Arun Chauhan, joint head of the fraud and risk team at Cobbetts LLP, and Richard Carty, managing director at Netshield Ltd, discussed the practical impact of cybercrime such as reputational loss, impact on productivity and loss of revenue. They also explored the different types of cybercrime, different methods of theft and Data Protection policies.
The e-security company SecForce provided a live demonstration from an ethical hacker, who demonstrated how easy it is to access a computer network. By compromising an e-banking system, he showed how it was possible for a hacker to obtain private information that could then be sold on to criminal organisations.
Arun Chauhan, said: “Knowledge and ensuring your staff are part of the security process is key in protecting a your business against cybercrime, which is why we hosted this seminar. The event was a great success, with the presence of an ethical hacker teaching an important lesson in how vulnerable a company's cyber security can be.”
Richard Carty, managing director at Netshield Ltd, said: “With 91 per cent of businesses having internet access, the sector is massively prone to cyber attack. A company is never too big or too small to be hit, so the most important thing is to understand what protection is available for businesses.
Rodrigo Marco, ethical hacker from SecForce, said: “We used an ‘offensive’ cyber security technique at the seminar, breaking into a piece of software and highlighting the flaws from the inside out. This insight into the processes of a hacker is the best way to ensure that your IT protection is thorough, which will ultimately save a business a lot of time and money.”