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Watchdog warns that authorities and industry are overlooking online fraud

Posted by Babatunde Onabajo on Monday, July 10th, 2017 at 15:42

The National Audit Organisation (NAO) has expressed concerns about the response by organisations and the Government to online fraud. 

Watchdog warns that authorities and industry are overlooking online fraud

The National Audit Organisation (NAO) has expressed concerns over the response by organisations and the Government to cyber crime such as online fraud and said it was difficult to see how its response up until now has been “proportionate, efficient or effective”.

 

Amyas Morse, head of the NAO, said: “For too long, as a low value but high volume crime, online fraud has been overlooked by Government, law enforcement and industry.” Morse went on to call on the Home Office to “oversee the system and lead change”.

 

The large-scale nature of online fraud has given rise to new vocabulary such as “phantom goods”, which describes goods bought over the internet that are later found out not to exist.  

 

The report cited figures that around two million incidents of cyber-related crime had taken place in 2016, representing 16% of all estimated crime incidents. Cyber crime is now the most commonly experienced offence in England and Wales.

 

The Home Office said the Government is acting to tackle online fraud but acknowledged that more needs to be done.

 

You can read the NAO’s report on online fraud here

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