Cardiff experts to recover £80 million from cyber criminals
A team of anti-piracy experts based in Cardiff is on target to recover more than £80 million from cyber criminals, according to new figures.
CJCH Consulting expects to reach this milestone on the behalf of clients by the end of 2018. It’s already recovered £12.2 million for businesses this year – up 15 per cent compared to 2017.
Specialising in sophisticated data analysis, anti-piracy research, customised compliance and enforcement, and business intelligence, the firm has also seen its team increase from six to 52.
Consultancy boss Steve Rees said the recovered funds shows that the threat from software piracy, illegal downloads and cyber crime is “still significant” and urged businesses to remain vigilant.
He said: “From the vast amount of money we are set to recover this year for our clients it is abundantly clear that the threat from illegal online crime is still significant and should not be ignored.
“Despite the Government’s recent IP Crime and Enforcement report figures showing a drop in the number of illegal downloads from 2016, there still remains a vast threat from online cyber crime, with criminals becoming increasingly sophisticated in their efforts to target businesses worldwide.
“The Internet of Things, Bitcoin, and cryptocurrency mining are just the latest in a growing number of networks and online platforms which are being exploited for maximum criminal gain.
“As such, as we approach International Internet Day on October 29, we would urge businesses to remain vigilant against this ever-present threat and take precautionary measures to ensure the safety of their online data before it’s too late.”
Having previously spent 32 years with South Wales Police – working across the criminal investigations and force intelligence departments – Steve has witnessed a dramatic shift in criminal trends.
“Criminality has shifted from the physical to the digital over the past 15 years. Before the rise of the internet traditional forms of physical theft in the real world would have dominated the scope of our investigations as police officers,” he explained.
“However, since then we have seen digital piracy, copyright theft, illegal downloads and cyber crime take precedent, which has spawned departments to handle the sheer volume of crimes.
The former police officer attributes this rise to ease of access, level of anonymity, and lack of traceability afforded to perpetrators by online crime.
“Surprisingly my past background in South Wales Police and as an investigative officer has translated well into the anti-piracy and compliance investigative field,” he added.
“Traditional skills such as investigative and communications skills, combined with the ability to understand the inner workings of criminal enterprises, have enabled our team to become stronger and more focused in the fight against cyber crime.”