Cybercrime and security leader outlines new global crime wave
Posted on Wednesday 3rd February 2016
One of the world’s leading security, cybercrime and fraud experts, Don Randall MBE, was the latest leading speaker to visit the University of Bolton.
With 44 years of experience in law enforcement, Don Randall gave an enlightening talk on electronic theft, the changing nature of fraud and how we combat such attacks.
Today cybercrime is costing the global economy more than $400 billion a year, with £54 billion lost in the UK alone.
During the lecture Don Randall highlighted the increased risk of attack, with 30,000 cyber-attacks happening every day, and the necessary steps for prevention.
‘The key to successful prevention, detection and subsequent prosecution is to understand the motivation of the attacker.
‘Primarily people commit crime for three reasons,’ explained Randall.
‘One is they need to, they’re cash-strapped, poverty-ridden and in such a bad state that the only way to go forward is to cross the line and commit a crime. The others are greedy or they have an alternative motivation, the likes of terrorism.’
He went on to examine the increasing internet usage by the population and the increased risks this presents.
By 2020 the average internet usage will be three and a half times the population of the world, so it’s imperative for countries to work together and combat the ever-growing problem.
Whilst education and awareness are fundamental, partnership is one of the most successful barriers to stopping it.
However, he stressed the need for continued cooperation worldwide, especially with Interpol and its network of 190 countries, to help combat the global crime wave.
Don Randall served with the City of London Police from 1969-1995, with specific emphasis on fraud and counter terrorism before 13 years at JPMorgan Chase as Managing Director.
He joined the Bank of England in 2008 and was appointed the Bank’s first Chief Information Security Officer in 2013.
He now serves as chairman of the ‘Sister Banks’, City of London Crime Prevention Association and ‘Project Griffin’. He is also a member of the City of London Crime Disorder Reduction Panel.
The Centre for Islamic Finance at the University of Bolton, which was launched in 2012 has PhD students from around the world and in January 2016 launches its MBA in Islamic Finance on both a full-time and part-time basis. It is supported in its work by an International Advisory Board, drawn from highly respected academics and businessmen and women.
The Centre works in collaboration with other financial and academic institutions to encourage high quality research and to promote the understanding of Islamic finance through lectures, conferences and short courses.
It has welcomed numerous industry leaders to speak at the University, including Dr Ahmed Ali, President of the Islamic Development Bank, former Chancellor of the Exchequer, Lord Norman Lamont and Chief Executive of HS2, Simon Kirby.
To find out more about the Centre for Islamic Finance, please visit http://www.bolton.ac.uk/cif