Sweet merciful crap! It appears that rather than risk their reputations financial houses in the UK are avoiding reporting computer crimes altogether.
Metropolitan Police officer, Detective Superintendent Russell Day, told a group of MPs investigating the fast-growing problem of identity theft, that banks were keeping quiet about attacks on their systems, either because of concerns over public confidence or because they lacked confidence in the ability of the police to deal with such crimes. One MP said the true cost of identity theft to the UK economy could be much greater than the official figure of £1.7bn a year.
This is a disturbing trend. Banks in the UK should give their head a shake. By avoiding reporting they open themselves up to greater risk of attack and when this problem eventually surfaces a greater outrage by the customers effected.
Tags: Online Banking, Banking Security, Privacy, Fraud
