An unprecedented wave of online bank fraud is hitting Britain
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Re: An unprecedented wave of online bank fraud is hitting Britain
#2Re: An unprecedented wave of online bank fraud is hitting Britain
#3The NECC's Reed said another problem was that just 1% of policing resources were dedicated to fighting fraud, despite it making up over a third of all crime in England and Wales.
Is at least one major cause of the problem. The police and government's response has been pathetic. This is not a new thing either, it's been going on for years.
Re: An unprecedented wave of online bank fraud is hitting Britain
#4The NECC's Reed said another problem was that just 1% of policing resources were dedicated to fighting fraud, despite it making up over a third of all crime in England and Wales. Is at least one major cause of the problem. The police and government's response has been pathetic. This is not a new thing either, it's been going on for years.
The other problem is that this statistic is nearly meaningless. If I run a bank scam, I might have 500k victims, but it won't take as many police to investigate as 500k rapes or murders or kidnappings would. This is comparing apples with oranges.
Re: An unprecedented wave of online bank fraud is hitting Britain
#5Britain being where the victims are, not the criminals.
Some reasons why Brits might be so so vulnerable:
* Major: English speaking so common to be targeted from less affluent ex-commonwealth countries.
* Major: Ageing population have most of the wealth.
* Major: Lots of vulnerable victims online and relatively high social media engagement.
* Major: Little fear of retaliation (other than Jim Browning). The UK is having less of an engagement in global policing (due to leaving Brexit) and has less reach as a consequence
* Minor: Degrading international relations. Less empathy shown towards Brits due to somewhat inward looking foreign policies over the past decades.
* Minor: Growing economic disparity causing a glut of "get rich quick" victims.
Honestly I think Jim Browning is showing how this problem is solved and is probably having a 100x impact over the average bank worker. The Banks should be funding him and others like him.
For those that don't know who Jim is, he does awesome work in identifying scammers and working with the local / relevant authorities into shutting their services down.
Re: An unprecedented wave of online bank fraud is hitting Britain
#6Britain being where the victims are, not the criminals. Some reasons why Brits might be so so vulnerable: * Major: English speaking so common to be targeted from less affluent ex-commonwealth countries. * Major: Ageing population have most of the wealth. * Major: Lots of vulnerable victims online and relatively high social media engagement. * Major: Little fear of retaliation (other than Jim Browning). The UK is havi…
Why would brexit impact police interactions with other commonwealth countries. Or even global policing.
Re: An unprecedented wave of online bank fraud is hitting Britain
#7The NECC's Reed said another problem was that just 1% of policing resources were dedicated to fighting fraud, despite it making up over a third of all crime in England and Wales. Is at least one major cause of the problem. The police and government's response has been pathetic. This is not a new thing either, it's been going on for years.
The other problem is that this statistic is nearly meaningless. If I run a bank scam, I might have 500k victims, but it won't take as many police to investigate as 500k rapes or murders or kidnappings would. This is comparing apples with oranges.
Practically what happens if you're defrauded is your local police force will direct you to Action Fraud (https://www.actionfraud.police.uk/) run by the City of London, who will note it down for "intelligence" but otherwise appear to do nothing whatsoever. Which is not too surprising - according to Wikipedia they have 80 staff.
Edit: The reviews of Action Fraud speak for themselves: https://uk.trustpilot.com/review/www.actionfraud.police.uk
Re: An unprecedented wave of online bank fraud is hitting Britain
#8All the major banks offer Confirmation of Payee nowadays. Why are people still falling victim to APP?
Re: An unprecedented wave of online bank fraud is hitting Britain
#9Earlier quoted context omitted.
The other problem is that this statistic is nearly meaningless. If I run a bank scam, I might have 500k victims, but it won't take as many police to investigate as 500k rapes or murders or kidnappings would. This is comparing apples with oranges.
Practically what happens if you're defrauded is your local police force will direct you to Action Fraud ( https://www.actionfraud.police.uk/ ) run by the City of London, who will note it down for "intelligence" but otherwise appear to do nothing whatsoever. Which is not too surprising - according to Wikipedia they have 80 staff. Edit: The reviews of Action Fraud speak for themselves: https://uk.trustpilot.com/review/…
Yeah, I'm somewhat familiar. I worked at a (fairly technological) UK bank, where we did investigations into scams like this. There's really not much that can be done about most of these scams, other than taking your multivitamins to prevent cognitive decline.
Re: An unprecedented wave of online bank fraud is hitting Britain
#10Britain being where the victims are, not the criminals. Some reasons why Brits might be so so vulnerable: * Major: English speaking so common to be targeted from less affluent ex-commonwealth countries. * Major: Ageing population have most of the wealth. * Major: Lots of vulnerable victims online and relatively high social media engagement. * Major: Little fear of retaliation (other than Jim Browning). The UK is havi…
From TFA:
> While security experts and senior bankers said many fraud attacks could be traced overseas - including from India and West Africa - Britain is also increasingly exporting attacks.
> ...
> "It's popular to say the fraud threat is imported into the UK, and I don't think that bears analysis," said NECC's Reed. "There is a significant UK nexus to a lot of fraud, our operational experience is showing that."