Cybercrime Partner at Mishcon de Reya comments on new CSEW experimental statistics
Comment for immediate release
Experimental statistics published in the Crime Survey for England and Wales (CSEW) today show adults aged 16 and over experienced an estimated 5.6 million fraud and computer misuse incidents in the 12 months prior to interview - 3.6 million of these were fraud incidents and 2.0 million were computer misuse incidents. Just over half of the fraud incidents (52%; 1.8 million incidents) are estimated to be cyber-related.*
Commenting on the results, Mishcon de Reya Fraud Partner Rob Wynn Jones said:
"These experimental statistics indicate that cybercrime is approaching the levels of physical crime in England and Wales. As cyber criminals become increasingly sophisticated in their approach, the number of incidents will continue to rise and police will continue to struggle to address the sheer volume of cases.
"For individuals who have fallen victim to cyber related incidents in connection with a business, the reputational fallout of for the business, in addition to the individual psychological impact, is significant. The assets stolen, coupled with the General Data Protection Regulation's fines for businesses who have failed to implement sufficient protection, can result in significant financial fallout too.
"Individuals and businesses alike must prioritise the growing cyber risk and implement the necessary measures to protect themselves from it. But we recognise that an innovative approach is needed to respond to these crimes once they have happened: Mishcon de Reya and global investigations and risk consulting firm Kroll, amongst others, have engaged in a two year pilot which will see law enforcement working with the private sector to identify, seize and recover assets from criminals under normal civil law remedies rather than criminal law. It is intended to increase recoveries for victims and increasing the impact on the criminals, extending the reach of law enforcement."
* These data are only based on interviews with half of the sample of respondents conducted between October 2015 and June 2016, but have been grossed up to provide an estimate covering the entire survey year.