The Cyber-Fincrime Nexus The Impact of COVID-19 and the Next Steps

Even before 2020, law enforcement agencies had been warning of a growing nexus between cyber and financial crime, and an expanding role from international serious organised crime groups. The COVID-19 pandemic of the last year has reportedly accelerated the growth of these interconnections, with small-time cyber criminals becoming more integrated into the activities of larger criminal enterprises.

The panel will explore the evolving nature of the cyber-financial crime nexus, looking at recent trends in Authorised Push Payment (APP) fraud, ransomware, malware, and other criminal techniques. It will also look forward to whether we are seeing a permanent shift in criminals’ focus towards the virtual world and ask how businesses can challenge them by taking a more integrated approach to AML/CFT, fraud and cyber security risks.