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Martin Sutherland, Managing Director, BAE Systems Applied Intelligence, said:

"The National Fraud Intelligence Bureau’s finding that seven out of 10 acts of
fraud now contain a cyber element echoes not only what we are hearing from our
clients on a daily basis, but also our recent research findings, which show that the
majority (67%) of British businesses regard organised fraudsters as the group most
likely to carry out targeted cyber attacks. The conclusion is becoming increasingly
clear - we have now entered the age of digital criminality in which well organised
and well funded criminal groups are using sophisticated cyber techniques to carry
out theft and fraud on an unprecedented scale.

"The convergence of digital crime and financial crime is clearly going to be one of
the greatest challenges to business, law enforcement agencies, and the security
community over the coming years. In recent months we have seen in the attacks on
major businesses, such as Target, the damage that this can cause; all the evidence
we are seeing suggests that this is just the tip of the iceberg. Responding to this
challenge is going to require us to work together more closely than ever before -
sharing threat intelligence, and using the most advanced fraud prevention techniques
to stop these attacks before they do real harm to businesses, consumers and the
economy as a whole."