In a speech delivered Tuesday, Interpol president Khoo Boon Hui stated that international organized-crime gangs are behind most Internet scams, adding that cybercrime is now worth 750 billion Euros ($971 billion) annually, making it more rewarding than cocaine, heroin and marijuana trafficking combined. Malaysian police, for example, reportedly arrested more than 200 cybercriminals from China and Taiwan who allegedly conducted online scams at the direction of two Taiwanese-headed syndicates. Khoo added that bank fraud is particularly profitable, noting that US banks reportedly lost $900 million in conventional hold-ups in 2011 but $12 billion in cyberrobberies. Khoo spoke at the European Regional Conference held in Tel Aviv by Interpol, an organization facilitates international police cooperation. Interpol plans to open a facility devoted to cybercrime and digital security in 2014 in Singapore. (PhysOrg)(Businessweek)(AFP)
