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#Infosec 2012: Digital crime threat now three times greater than physical theft

25 Apr 2012
Barclaycard payment security head Neira Jones at Infosec

Infosec: Criminals are three times more likely to target the public's digital data than their real world belongings, according to Barclaycard's head of payment security Neira Jones.

Jones told the Infosec conference in London that citizens in the UK were at increasingly at risk because of their lax attitude towards online security.

"There is a frightening disconnect between how we act in the physical and digital world," she added.

Jones suggested that the nature of the threat to the public has evolved too, claiming the number of attacks stemming from co-ordinated groups of cyber criminals, as opposed to lone wolf operators, has increased.

"Fraud costs in the UK reached £73bn in 2011. Mass marketing fraud and identity theft accounted for £4.7bn, which is 6.5 per cent of total. A frightening increase," said Jones.

Jones comments follow on from a research paper by BAE Systems Detica and London Metropolitan University's John Grieve Centre claiming that the majority of cyber crime is now committed by gangs.

Prior to her speech at Infosec Jones had unveiled Barclaycards new PayTag payment service.

Jones claimed during an interview with V3 that the service actually stores less customer data per transaction than card payments, making it less attractive to cyber crooks.

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Alastair Stevenson
About

Alastair has worked as a reporter covering security and mobile issues at V3 since March 2012. Before entering the field of journalism Alastair had worked in numerous industries as both a freelance copy writer and artist.

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