Experts probe dark side of the web at Channels forum

Delegates heard how illegal credit card number Programmers, denial of service software and virus creation software can be easily obtained for use against companies.

Chris Avis is director of Net Intelligence, a leading international firm specialising in software security. The company is a partner of UNISYS.

Avis provided delegates to Channels with staggering statistics concerning the level of Net fraud and corruption.

By 2004 IT fraud will cost companies $75 billion a year, according to authoritive ICAF. Statistics also show 60 per cent of security breaches occur within a company behind the firewall.

"This shows perimetre security is no longer enough," says Avis.

Statistics also reveal 93 per cent of companies are experiencing virus attacks which lose them an average of $243,000 a year.

"The Middle East is certainly not exempt. Global trends are the same everywhere in the world. You need to protect your network at client level. You also need to be able to monitor network traffic, net activity and email usage."

More than 60 experts have flown in to take part in Channels as speakers and panelists. Asia's most networked economy will be in focus this afternoon.

Alongside the Channels, conference is the Channels exhibition where there are over 20 leading banking solution providers. Today is the last day of the exhibition, which is free and will close at 6pm.