UK 'losing fight' against internet crime, warn MPs

http://www.bbc.co.uk/news/uk-politics-23495121
UK 'losing fight' against internet crime, warn MPs

David Edmundson-Bird successfully proved he was the victim of e-crime
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The UK must do more to stop online fraud and deter state-sponsored cyber-espionage or risk losing the fight against e-crime, MPs have warned.

Good post BS and you'll note that the BBC adds a form at the bottom of the news item asking victims to include details of their experiences and I would urge them to use it, as this is the first official acknowledgement of the situation I have seen, and it gives people an opportunity to evidence the scale and seriousness of the problem.

The evidence is that organised gangs can easily open bank accounts against fake ID and that can not be allowed to happen. Once the integrity and trust in your banking system is lost you have a seriously flawed economic system and fraudsters will flood (are flooding) banks with their dummy accounts, buying and selling them as a commodity, until the whole banking system is debased. This is a problem specific to the UK otherwise scammers wouldn't target Australian victims and route the money through UK banks, and neither the police nor banks do anything other than protect the identities of the fraudsters and their accounts, supposing they aren't just dummy accounts opened against fake ID's.

Banks have no incentive to act as it is only the consumer losing money but, if banks were fined £10,000 for each account found to have been opened against fake ID and used in fraud it might encourage a change in attitude. Until then, the banks, the FCA and police are happy to turn a blind eye to a burgeoning crime wave they don't even acknowledge is taking place.