Cybercrime Fuelled By Financial Turmoil Says Garlik

According to a new report, incidents of cybercrime in UK have reportedly increased by an appreciable level during the last year owing to a significant rise in occurrence of online financial frauds.

The report published by the reputed online identify firm Garlik states that over 3.5 million incidents related to online crimes occurred in UK during last year and it goes on to add that the online information black market in UK has more than nineteen thousand traders.

The report provides extensive detail on the statistics related to cybercrime and mentions that online fraud increased by 20% in 2007; however there was nearly eight percent reduction in online identity theft along with a two percent drop in sexual offences committed over the internet.

Garlik also goes on to predict that there are chances of further increase in incidents of online fraud in 2008 and it indicates that the worsening global financial crisis may contribute to the increase.