SASIG - Fraud and the enterprise: Costing businesses as much as individuals

The Security Awareness Special Interest Group endeavours to bring together the best and brightest cybersecurity professionals to discuss the real cost of fraud, so why not bring your expertise to the table!

Some call cyber-related crime the greatest transfer of wealth in history. If it were an economy, it would have the third largest GDP and enjoy an annual growth rate of 15% – the envy of the United States and China. The estimated cost of cybercrime to the global economy in 2024 was $8 trillion. While much attention is given to ransomware, which is undeniably disruptive, the proceeds from cyber-enabled fraud far exceed those from online extortion, and the barrier to entry is significantly lower. Fraud is the entry-level crime.

Scams against individuals are well known, but fraud also targets enterprises, often with even greater rewards. When consumers are scammed, businesses, particularly those in the financial sector, also pay the price. The tactics, techniques, and procedures (TTPs) used by online fraudsters are often strikingly similar to those deployed by other cybercriminals. Social engineering, for instance, remains a key weapon in their arsenal.

SASIG is delighted to host this important event in association with Which? to explore the challenges scammers present to both individuals and organisations; how reporting cybercrime can support law enforcement in disrupting criminal networks; and what strategies we can use to reduce our susceptibility to the siren calls of online fraudsters.

This event is open to front-line, end-user cybersecurity professionals, as well as SASIG members.

Secure your spot amongst the brightest minds.