e-Crime High on the Agenda as Economic Impact on Welsh Business Community Threatens to Escalate

The 4th Annual e-Crime Wales Summit takes place at the Celtic Manor Resort in Newport on the 11th June 2008, as part of the ongoing e-Crime Wales initiative to tackle the growing threat of theft, malicious attack and other crimes against business. Comprising of intuitive seminars, workshops and a dedicated exhibition area, the event has already some 400 registered business delegates from across Wales to explore best practice approaches for combating the growing threat of e-crime.  e-Crime Wales will reveal the latest extent of the impact of e-crime on the Welsh economy, as well as announcing the latest steps in its strategy.

In 2006, the cost of e-Crime to the Welsh economy stood at £160 million; and all signs point to an inevitable increase in this figure when it is announced at next week’s Summit.  Welsh businesses are increasingly becoming the target of e-Crime; with the best figures currently available (2006) indicating 1 in 3 companies in Wales typically fall victim to an e-crime attack during a 12 month period, at an average cost of £12,000 per instance. e-Crime is affecting every sector of the Welsh economy, from the self employed, micro businesses, small medium enterprises and large scale corporations, as well as law enforcement agencies, financial institutions, judiciary and legal profession and government. 

Tackling e-Crime has been a priority of the Welsh Assembly Government and a part of its economic strategy for some time with the introduction of the e-Crime Wales initiative back in 2004. The Annual e-Crime Summit is a strategic element of this initiative.

The theme of this year’s e-Crime Wales Summit is ‘Processes, Policies and Procedures’, with the emphasis on helping Welsh businesses by outlining simple and practical steps that companies can take to protect themselves against e-Crime. With nearly 50% of Welsh businesses not performing regular security audits, e-Crime Wales believe it is vital that businesses are better prepared for the threat of e-Crime. Furthermore it aims to educate business owners and company directors about current and proposed legislation and regulatory compliance affecting them personally and their businesses.

One of the events keynote speakers will be international security expert and renowned ‘ethical hacker’, Jason Hart, Senior VP at security company CRYPTOCard said:
“Wherever you are in the world, people are talking about e-Crime but few are doing enough about it.  Business people need to understand how vulnerable the vast majority of them are from rudimentary attacks, and how frequently they take place. Most importantly, they need to understand that effective remedies needn’t be complicated, expensive or technically complex.”

With a seminar programme attracting internationally renowned speakers, it is designed to educate and inform business about the threat of e-Crime,

• how to identify it,
• how to mitigate against it
• how to report it

Running alongside the seminars will be a series of workshops where delegates will get practical advice on implementing e-security best practice and understanding the range of threats.  There will also be a focused exhibition area where delegates can meet with information security experts and explore the business solutions available to help counteract the e-Crime threat.

Detective Chief Superintendent of North Wales Police Chris Corcoran, Chair of the e-Crime Wales Steering Group said:
“The threat of e-Crime is very real .As part of its remit to deliver co-ordinated action between the private sector, Welsh Assembly Government and the four Welsh police forces- the level of which is unique in the UK, the Summit will provide insight and guidance into the managerial and non-technical measures businesses can take to protect themselves against e-Crime.”

 Deputy First Minister and Minister for the Economy and Transport, Ieuan Wyn Jones AM, will be making the opening address at the event, which will be followed by South Wales Police Force Chief Constable, and Chair of WACPO (Welsh Association of Chief Police Officers) Barbara Wilding and a number of keynote speakers discussing the issues of e-Crime. The seminar programme and workshops will focus on the common e-Crimes committed against businesses, the growing trend toward home and mobile working and how to do so safely and the importance of having a clear and effective IT security policy.

Businesses interested in registering for the event should visit the e-Crime Wales website (www.ecrimewales.com/summit2008) and complete the online registration form. Registration is free for all Welsh businesses and they will be able to attend the workshops and seminars during the event.