Thursday, May 26News That Matters
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Online fraud 'overlooked', warns watchdog

Online fraud 'overlooked', warns watchdog

Business
Ministers are not doing enough to tackle online fraud and must take urgent action to tackle the growing problem, a watchdog has warned.The National Audit Office (NAO) said it was hard to see how the current response to the cyber crime - now the most commonly experienced offence in England and Wales - could be seen as "proportionate, efficient or effective".It also said some police forces were not treating the issue as a priority while some banks were doing better than others in their response.There was also concern about the level of sentence received by convicted fraudsters and whether current legislation was enough.Almost two million cyber-related fraud incidents were estimated to have taken place in a single year alone with the cost likely to run into billions of pounds.The report came ...