Who is responsible for Online Fraud
This week the Metropolitan police commissioner, Sir Bernard Hogan-Howe, [SIC] ‘said customers who had fallen foul of online fraudsters were being “rewarded for bad behaviour” instead of incentivised to update anti-virus software and improve passwords.’ His comments have come in the wake of new figures revealing a ‘huge rise’ in the amount of money lost to financial fraud, having hit £755m in 2015 which represents an increase of 26% in 12 months. But who is responsivle for online fraud? The banks or the customer?
Yet, two in five (44%) UK consumers have been subject to cybercrime in their lifetime, according to a survey released in 2015 by Which? magazine. GCHQ estimates that 80% of cybercrime, which is thought to cost £1bn a year, could be prevented by better passwords and regularly updated security software.
Rakeem and I debate the merits of the comments made by Britain’s most senior police officer, take a listen and share your thoughts in the comments below.