The 2012 ICC Commercial Crime Services (CCS) Economic Crime Lecture, which took place at Lloyd’s of London on June 28, featured an insight into the world of cybercrime. It was presented by the global organised crime specialist Misha Glenny, who later received the CCS Special Award for investigative journalism into organised crime.

The 2012 ICC Commercial Crime Services (CCS) Economic Crime Lecture, which took place at Lloyd’s of London on June 28, featured an insight into the world of cybercrime. It was presented by the global organised crime specialist Misha Glenny, who later received the CCS Special Award for investigative journalism into organised crime.

Hosted by CCS and Lloyd’s Market Association, Mr Glenny was introduced by David Indge, Head of Class of Business Underwriting Performance at Lloyd’s, who began proceedings by highlighting some recent examples of cybercrime in the press and warned that business must do more to combat the dangers it faces.

The lecture began with Mr Glenny discussing the nature of online criminal networks and the degree of sophistication involved with several of the most famous scams. He went on to profile some of the most prominent hackers, based on having met many of them during the research for his most recent book, DarkMarket: how hackers became the new Mafia.

He went on to identify the main strands of cybercrime and how they have become interconnected and outlined the challenges facing law enforcement and governments in dealing with suspect online activities by individual hackers, organised crime gangs and state sponsored cyber warfare.

Glenny finished by outlining future threats to cyber security along with stating what he felt had to be done to shield governments, organisations and individuals from the growing danger.

Julian Malins QC was on hand to offer a legal perspective during the panel discussion, which gave delegates a chance to put their own questions to Mr Glenny. Mr Malins was also able to offer examples from his vast experience as a barrister leading to a discussion on where the liability lies in the event of a cyber attack on an organisation.

The event ended with Mr Glenny receiving the CCS Special Award for his investigative journalism into organised crime.

CCS Director Pottengal Mukundan commented: “For over a decade, Misha Glenny has focused on international organised crime. His research has led him to many, difficult parts of the world. He has interviewed countless victims and numerous key figures in criminal syndicates. His research into organised cybercrime has highlighted one of the great vulnerabilities of our time. His great skill lies in making sense of a very wide and complex landscape and explaining it in simple, stark terms. He often provides a fresh look at an old problem, sometimes stripping away the dogmas that have built around it over time.”

For more information on the subjects covered at the CCS Economic Crime Lecture or for an invite to next year’s event, please email CCS on ccs@icc-ccs.org.