Latest Expert Witness News

More to fear from cybercrime than credit crunch

World's top crime experts have stated that cybercrime is likely to wreak as much havoc as the credit crisis in the coming years if international regulation is not improved. Damage caused by cybercrime is estimated at $100 billion annually.

Criminal organizations are exploiting a regulatory vacuum to commit internet crimes such as money-laundering and theft of personal information. The scope for damage is vast, experts told a European Economic Crime conference in Frankfurt.

Internet crime also threatens national security, and many countries have voiced concern over Russia's and China's abilities to electronically spy on them and disrupt computer networks and power supplies.

Interpol have said that increasingly tech-savvy gangs from China, India, Eastern Europe and Africa were coming up with ever more sophisticated ways of internet fraud.

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