April 14, 2015
A widely-held suspicion that UK banks are covering up the true scale of cybercrime has been confirmed by the City of London Police chief Adrian Leppard, who says that up to 80% of online crime goes unreported to the authorities.
Speaking at a Tech UK conference, Leppard says that the vast gap between what is reported and the actual threat level arises “primarily because banks are happy to write off incidents as costs, thereby costing the consumer collectively and funding ongoing cyber-criminality”.
The Commissioner told the audience that the scale of the threat is much greater than the public think, so much so that it may have even surpassed what drugs have delivered to the criminal economy.
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