The 2014 Fraud and Cyber Crime Symposium got underway at Sanctuary Cove this morning.
With the theme ‘Transforming threats into opportunities – Establishing corporate agility to reduce cyber, identity and financial threats’, the conference will seek to increase awareness and build resistance and fraud prevention capacity within the community.
Detective Superintendent Brian Hay said with organised crime networks entering the cyber, financial and identity crime environment at a rapid pace, the symposium brings together world experts to share their knowledge on how to address these crimes.
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“It has been estimated organised crime costs the Australian community $15 billion per annum and cyber crime costs the global community in excess of $400 billion,” he said.
“Businesses are being targeted as they are seen to be easy and vulnerable entities providing criminals with access to client details, large scale databases, and a means to either access or launder money.
“Rarely does the corporate environment achieve an opportunity to have an audience with global crime fighting leaders such as the FBI, US Secret Service and Interpol.”
“Mr Harry Markopolos, the man who brought down the infamous Bernie Madoff ($50 billion fraud) after a seven year pursuit is travelling from Boston, USA to also share his experiences.
“Any organisation connected to the internet is a potential target and it is imperative all businesses develop strategies to minimise the risks and develop a resilience to potential attacks.
“Forums such as this will provide access to best case fraud management and prevention strategies.”
The conference will be held at the Intercontinental Hotel Resort, Sanctuary Cove until Thursday.