A round table organized by UNICRI on cybercrime and cybersecurity - Lucca, 29 November 2013

An international round table, organized by the United Nations Interregional Crime and Justice Research Institute (UNICRI) with the support of Cassa di Risparmio di Lucca, will take place in Lucca to address several issues related to the impact of cyber crimes on economic and financial systems. The meeting presents an important opportunity to confront different experiences and identify good practices in this area.

In recent years cyber crime has become one of the most pervasive growing phenomena, raising the concerns of governments, citizens and the private sector. Data breaches and cyber-theft are accruing in all sectors, affecting security and development in societies all over the world.

According to the Director of UNICRI, Mr. Jonathan Lucas “Cyber crime is no longer confined to isolated attacks committed by individuals. In recent years this type of crime has evolved into a very profitable and often very low risk activity for criminal organizations. Modern information technology society has become a borderless field of operation for criminals who have been targeting the financial and business sectors in particular.”

Cyber attacks involve unpredictable economic and productivity losses, but are not limited to these types of losses. Affected companies need to bear the costs of malware cleanup, investigation and post-incident management. Furthermore, companies may not recover from all cyber-attacks; data loss or the theft of trade secrets can prove fatal for industries that rely heavily on the quality and secrecy of their manufacturing. Many companies will also have to address their loss of credibility and market positioning.

Cyber-crime’s zeroing in on the financial sector and small and medium enterprises (SMEs) comes at a delicate time, particularly in Europe where businesses hit by the recession are trying to cope with tight austerity measures and low revenues.