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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.

Désiré Athow
Contributor

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.