A tsunami-like wave of “crimeware” will seek to steal the identities and money of Australians this year warns Adelaide-based information security expert David Simpson.

Mr. Simpson is managing director of information security specialist CQR Consulting, a company that assists organisations in Australia, Asia, Europe and the US to protect corporate information.

“While indiscriminate virus attacks declined in 2006, the major change is the rise of crimeware, which is specifically designed to invade computer systems for profit,” he said.

A tsunami-like wave of “crimeware” will seek to steal the identities and money of Australians this year warns Adelaide-based information security expert David Simpson.

Mr. Simpson is managing director of information security specialist CQR Consulting, a company that assists organisations in Australia, Asia, Europe and the US to protect corporate information.

“While indiscriminate virus attacks declined in 2006, the major change is the rise of crimeware, which is specifically designed to invade computer systems for profit,” he said.

“Identity theft, fraudulent transactions and attempts to steal your confidential information will increase in Australia during 2007 as we are hit by a tsunami-like wave of crimeware.

“The only real defence we have against this unprecedented assault is constant vigilance.”

Crimeware describes software programs designed to assist financial crime. Either by tricking people or subverting technology, crimeware lets an online criminal steal your identity in order to take money from your bank accounts or buy goods fraudulently with your credit card.

Identity theft is big business. Estimates by the Australian Institute of Criminology report that 38 per cent of Australia’s $5.88 billion annual fraud bill involves identity fraud or theft.

In its latest Computer Crime & Security Survey, Australian cyber crime watchdog AusCERT reports it handled more than 2000 identity theft incidents in the 12 months to March 2006 – a 27 per cent increase on the previous year.

Mr. Simpson said identity theft would get worse in 2007. “It’s generating millions of dollars in illicit income for organised crime gangs worldwide, especially in the former Soviet republics,” he said.

“As more of our confidential information is stored online, the incentive grows for criminals to break into these systems. Unfortunately, the weakest link is often the person whose identity is at risk.”

Mr. Simpson said the term “social engineering” described a ruse to trick an individual into revealing secret information, such as a password. “A common ploy is when someone claiming to be from the computer help desk calls asking for your password to test your access to the system,” he said.

“Everyone’s first instinct is to be helpful because it is drilled into us to conform, but we need to apply a bit of discernment before we hand out confidential details. There’s no quick fix to the problem of identity theft, but the first thing businesses should invest in is awareness – for staff, for customers and for management.

“What’s missing is the recognition that information has some value. The bottom line is that your identity is comprised of various pieces of information about you. If you give it away without thinking, you can be giving away your identity.

“Whether it’s online, on the phone or even on the street, we have to get people to recognise that information has value and that it should be protected.”

CQR Consulting delivers independent information security services, without the need to sell computer hardware, software or other technology services. The Australian-owned company, based in Adelaide, provides an “honest broker” for organisations often caught between the competing claims of incumbent vendors.

For more information about CQR Consulting, visit www.cqrconsulting.com.  For media assistance, call John Harris at Impress Media Australia on (08) 8431 4000.