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May 2022
Royal Holloway: Corporate under-reporting of cyber crime
Reporting crimes to law enforcement agencies is the starting point for any crime response or criminal investigation process. Without reporting, cyber crimes cannot be investigated, prosecutions cannot be pursued, and effective prevention strategies cannot be developed. Yet despite the catalytic role of cyber crime reporting, the majority of corporates fail to report cybercrimes. This article in our Royal Holloway security series explains why this is an increasing cause for concern.
Table Of Contents
- Statistics suggest a prevalence of corporate under-reporting of cyber crime.
- Corporates don’t want to publicly discuss issues relating to cyber crime.
- The fundamental concern with under-reporting is that it allows cyber criminals to stay in the shadows, without fear of being apprehended.
- When lucrative criminal behaviour goes unchecked, it proliferates – as seen in significant year-on-year increases in ransomware attacks.
- Corporates defending against cyber attacks need to be prepared for increasing ambiguity.
- Novice, non-technical cyber criminals may present as more sophisticated threat actors.
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