Firms too scared to report cyber crime, says police investigator

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Organizations are too afraid about reporting cyber crime to police, says a Toronto police investigator, which impairs law enforcement’s ability to go after criminals. “Corporations are concerned about their reputation, their stock price and share valuation, and these are the things that prevent them from coming to law enforcement early in the process,” Det. Const. Kenrick Bagnall of the Toronto Police Service’s cyber crime unit told a conference Tuesday. “The sooner an individual or a corporation comes to law enforcement it increases the chances of a positive result tremendously.”

Some industries, he added are better than others. Going back several years when he was a fraud investigator he found Canadian insurance companies were much more willing to call police. “Very good investigators internally and they’re putting together packages and saying ‘This is our guy, here is our body of evidence, you do your thing now” — and they hand over a CD fulled with copies of documents.

By: Howard Solomon
Read the full article at IT World Canada.