Reacting to news that 7 people are to be prosecuted for allegedly stealing $45m (£29m) by hacking into databases and withdrawing money from cash machines across the globe, KPMG’s head of cyber security says that current deterrents and international co-operation amongst Governments are not strong enough to tackle cyber crime.
Malcolm Marshall says: “Five years ago, global authorities were reeling from the impact of a $9 million cyber heist, but it seems that, since then, little progress has been made in the fight against cyber crime. If anything, the criminal fraternity has realised that they face fewer risks and lesser penalties from cracking codes online than cracking safes in a traditional bricks and mortar environment.
“Attempts of this nature will continue until law enforcement agencies are given greater powers to collaborate and judicial systems have greater deterrents at their disposal. The onus must, therefore, be on governments around the world to come together and establish a unified approach to what is a growing crime without borders. Until they do, we face the very real risk that the world’s financial systems will be an easy target for criminals able to swap Kalashnikovs for keyboards or Magnums for mice.”
Mike Petrook, KPMG Press Office
020 7311 5271 (t), 07917 384 576 (m) or firstname.lastname@example.org
Notes to Editors:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.