Financial services firms are being warned by technology experts to cover themselves against increasing levels of cybercrime.
Phil Swinburne, specialist policy adviser at the National Hi-Tech Crime Unit said: "Corporate cybercrime in the UK is mounting, and could be set to get worse."
The warning comes ahead of the Compsec 2002 conference, where Swinburne will alert businesses to the proliferating risks.
He will say: "Organised crime syndicates are using the anonymity and the security that the technology can offer to reduce their risk. The confidential information we receive indicates that extortions, carried out on businesses in the UK, are not being reported."
The Hi-Tech Crime Unit is the UK's centre of excellence for law enforcement in hi-tech crime. The unit will join an international line-up of computer & security intelligence experts at the London conference from October 30.
One of the keynote speeches will include a warning from the European Training Manager for Guidance Sotware, Frank Butler. He will say: "companies are playing fast and loose with their internal security as corporate computer crime escalates."
