Interpol says organised gangs behind internet crime boom

May 08, 2012 by Steve Weizman
Interpol president Khoo Boon Hui, pictured in 2011, said on Tuesday that organised international gangs are behind most internet scams and that cyber crime's estimated cost is more than that of cocaine, heroin and marijuana trafficking put together.

Interpol president Khoo Boon Hui said on Tuesday that organised international gangs are behind most internet scams and that cyber crime's estimated cost is more than that of cocaine, heroin and marijuana trafficking put together.

Speaking to delegates at the opening of the France-based international police agency's European Regional Conference in Tel Aviv, Khoo quoted a study by London's Metropolitan University indicating that "80 percent of crime committed online is now connected to organised gangs operating across borders."

" now find that transnational and are far more rewarding and profitable than other, riskier forms of making money," he said.

"Experts have warned that the cost of cyber crime is larger than the combined costs of cocaine, marijuana and heroin trafficking. In Europe, the cost of has apparently reached 750 billion euros ($979 billion) a year," he said.

Khoo cited and credit card and banking fraud as examples.

He said that US banks reportedly lost $900 million (690 million euros) to conventional robbers last year but $12 billion (9.2 billion euros) to .

He also warned of the dangers to global security of cyber attacks, saying that Interpol itself had been hit by the hacker collective Anonymous.

He said that in Israel "a reported number of over 1,000 cyber attacks take place every minute."

Israel has been undergoing a low-level since January, with purportedly Arab attackers targeting many sites, including those of the Tel Aviv stock exchange, the national airline El Al and the fire brigade.

Hackers also posted the credit cards details of tens of thousands of Israelis.

Israeli hackers have launched some counter attacks, although their government has asked them to show restraint.

Israel is hosting the May 8-10 European parley for the first time.

Police chief Yohanan Danino said that Israel joined the organisation in 1949, a year after the foundation of the Jewish state, initially as part of the Asia region, where it is geographically located.

But in 2006 it was accepted into the agency's Europe region, reflecting its main international policing concerns.

"Seventy percent of our police activity is connected to European countries ...countries with which we have diverse ties in many fields," he said.

Israel has diplomatic ties with only Egypt and Jordan among its Arab neighbours.

Explore further: Twitter rules out Turkey office amid tax row

add to favorites email to friend print save as pdf

Related Stories

EU Commission wants Cyber Crime Center

Mar 28, 2012

(AP) -- The European Commission wants to set up a special center to deal with cyber crime to protect citizens against illegal online activities.

UK govt to announce new cyber security strategy

Nov 25, 2011

The government is set to announce new measures to tackle cyber crime on Friday as Britain's internet and electronic communications network comes under increased attack from hackers and foreign intelligence ...

Davos call for global action against cybercrime

Jan 26, 2012

International action to snuff out cybercrime is desperately needed, officials and business leaders said here, warning that criminals move at Internet speed while countries drag their feet.

Websites of Israel bourse, airline brought down

Jan 16, 2012

The websites of Israeli national carrier El Al and the Tel Aviv Stock Exchange (TASE) were both offline on Monday morning, hours after they were reportedly threatened by a Saudi hacker.

Israeli hackers attack Iranian sites

Jan 26, 2012

A group of Israeli hackers said on Thursday they have attacked several Iranian websites, a day after a number of Israeli websites were taken offline in the latest incident in a low-level cyberwar.

Recommended for you

Twitter rules out Turkey office amid tax row

3 hours ago

Social networking company Twitter on Wednesday rejected demands from the Turkish government to open an office there, following accusations of tax evasion and a two-week ban on the service.

How does false information spread online?

6 hours ago

Last summer the World Economic Forum (WEF) invited its 1,500 council members to identify top trends facing the world, including what should be done about them. The WEF consists of 80 councils covering a wide range of issues including social media. Members come ...

User comments : 4

Adjust slider to filter visible comments by rank

Display comments: newest first

Burnerjack
1 / 5 (3) May 08, 2012
illegal gambling is easy to remedy: Legalize it.
kaasinees
2 / 5 (4) May 08, 2012
What about the religious fascist gangs and the jewish gangs who are ruining our countries? Not mentioning them? Ok then.
Vendicar_Decarian
3 / 5 (4) May 09, 2012
According to our Libertarian friends, there is no legitimacy to the concept of illegal commerce. All commerce is by definition legal and sacred.

NotParker
1 / 5 (4) May 09, 2012
What about the religious fascist gangs and the jewish gangs who are ruining our countries? Not mentioning them? Ok then.


You are an AGW cult member AND a jew hater? I knew the left/greenies were the new neo-nazis.

More news stories

Quantenna promises 10-gigabit Wi-Fi by next year

(Phys.org) —Quantenna Communications has announced that it has plans for releasing a chipset that will be capable of delivering 10Gbps WiFi to/from routers, bridges and computers by sometime next year. ...

Unlocking secrets of new solar material

(Phys.org) —A new solar material that has the same crystal structure as a mineral first found in the Ural Mountains in 1839 is shooting up the efficiency charts faster than almost anything researchers have ...

Floating nuclear plants could ride out tsunamis

When an earthquake and tsunami struck the Fukushima Daiichi nuclear plant complex in 2011, neither the quake nor the inundation caused the ensuing contamination. Rather, it was the aftereffects—specifically, ...

New US-Spanish firm says targets rich mobile ad market

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Progress in the fight against quantum dissipation

(Phys.org) —Scientists at Yale have confirmed a 50-year-old, previously untested theoretical prediction in physics and improved the energy storage time of a quantum switch by several orders of magnitude. ...