Banks not police first to hear of e-crime

Published on 27 Apr 2007

A new system for reporting online fraud is causing controversy in the business world, reports vnunet.com.

Under new rules it is banks instead of the police who will be notified of online fraud compared to the old system whereby both organisations were contacted. There is clearly some disquiet at the fact that criminal offences will be dealt with by private organisations rather the state.

Jim Norton, senior policy adviser at the Institute of Directors commented:

'This is a retrograde step and the result of the fact that we haven't properly resourced the police so that they can deal with e-crime,'

'The National Hi-Tech Crime Unit has disappeared and not been properly replaced, and the Home Office has nothing better so they are going to allow the banks do it.'

Supporters of the new regulations believe they will provide a clearer picture of the scale of ecrime while Department of Trade and Industry minister Margeret Hodge commented: