"While financial crimes from tax evasion to insider trading could be classed as the traditional criminal pursuits, cyber crime is more new age and is developing and advancing at a pace so fast that organisations and legislators cannot keep up," said Michael Kavanagh, CEO of the Compliance Institute.
"These attacks can have catastrophic consequences not just for those whom they are perpetrated against, but for the wider public. We only have to look at the devastation that was caused to patients following the 2021 hacking of the HSE to understand the severity of the crimes," Kavanagh said.
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