Fraudsters using technology to commit their misdeeds is nothing new, but as technology advances, so do new methods of technological criminality as well as the sophistication of the crimes. The cost of tech crime is also staggering. For example, last year alone, the UK lost more than UK£2.5 billion to fraudsters and cyber criminals, and a recent study showed that cyber-criminality now costs the global economy more than US$1 trillion – and that is just the tip of the iceberg.

In this article for Fraud Intelligence, Peter FitzGerald and Amalia Neenan discuss what is being done to counter this threat and whether it will make a difference, arguing that a three-pronged approach should be followed.