CyberPoint

On November 2, 2011, David Garfield and Richard Wilding spoke about The Cost of Cyber Crime, as part of the ongoing CyberPoint Speaker Series. Cyber crime costs the British economy $45 billion a year according to the first ever Government backed study into the problem. Most worryingly the research shows that it is businesses that pay the heaviest price. UK businesses lose approximately $28 billion every year through 'cyber espionage' – mostly the theft of proprietary data, such as intellectual property or sensitive commercial information. This information is being stolen by sophisticated adversaries, who have the motivation and capability to use techniques well beyond those employed in mainstream criminal malware. US businesses are just as dependent on cyberspace as those in the UK. Garfiled and Wilding also pointed out that cyber crime had spawned a cyber security industry that's long on advice but short on solutions.

David Garfield heads up Detica's Cyber Security business unit, innovating next generation solutions and services for cyber monitoring, intelligence and remediation, as well as broader capabilities in secure ICT design, build and component generation. Richard Wilding leads Detica's Advanced Threat and Response Group. Detica is part of BAE Systems, the premier global defense, security and aerospace company. BAE Systems Detica delivers a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services.

The event was made possible in part by the generous support of the Economic Alliance of Greater Baltimore and the Harbor East Development Group.