$15 billion in losses bring fraud-fighting elite to QLD

EXPERTS in global fraud will converge on the Gold Coast this week to tackle threats from cyber crime which is now costing the global community more than $400 billion a year.

Conference goers will hear from global crime fighting leaders such as the FBI, US Secret Service and Interpol.

Among them is Harry Markopolos, the man who brought down the infamous Bernie Madoff for a $50 billion Ponzi Scheme fraud after a seven-year pursuit, who is travelling from the United States to share his experiences.

Fraud and Cyber Crime Group's Detective Superintendent Brian Hay said the conference was about establishing corporate agility to reduce cyber, identity and financial threats.

He said organised crime, which was increasingly entering the cyber sphere, costs the Australian community an estimated $15 billion a year.

"Businesses are being targeted as they are seen to be easy and vulnerable entities providing criminals with access to client details, large scale databases, and a means to either access or launder money," he said.

"Any organisation connected to the internet is a potential target and it is imperative all businesses develop strategies to minimise the risks and develop resilience to potential attacks.

"Forums such as this will provide access to best case fraud management and prevention strategies."

The conference will be held at Sanctuary Cove from August 26-28.


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