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• While being statistically insignificant in the past, cybercrime has emerged as one of the top types of economic crime and is now in fourth place in the Czech Republic (13%). While this is below the average for Central & Eastern Europe (“CEE”) (18%) and globally (23%), we may well see its rise in years to come. 30% of Czech organisations believe their organisation will likely face cybercrime in the following 12 months; together with bribery and corruption and insider trading the highest percentage among all types of fraud.
• IP theft (including theft of data) together with reputational damage and theft of personal identifiable information causes the biggest concerns to Czech organisations when it comes to the effects of cybercrime. • The cybercrime threat is no longer seen as having primarily an external origin: 21% of Czech respondents see the internal threat as more prevalent, a further 32% consider cybercrime as an internal as well as an external threat. The Information Technology department is perceived as the most likely source of an internal cybercrime threat; this is consistent in the Czech Republic, the CEE as well as globally. |

Tony Parton, William Beer and Professor Peter Sommer discuss the impact of cybercrime.