The implications of economic cybercrime for policing

The introduction of sophisticated technology has brought about a step-change in the way economic crime is committed – enabling frauds to be perpetrated at scale, at great speed, and at a distance, with no physical contact necessary between criminal and victim. It can be much harder to identify the individuals initiating crime, and often the location will be outside UK jurisdiction. These factors have resulted in a sharp escalation of such activities in recent years, bringing new challenges for policing and industry in preventing and tackling such crime.

‘The Implications of Economic Cybercrime for Policing’ provides new data and analysis around the scale of this activity, finding that 106,681 fraud-related incidents were reported to Action Fraud – the national fraud reporting tool for individuals and businesses – between October and December 2014, a third of which related to banking and credit industry fraud. The report goes on to offer a comprehensive view of the challenges facing the policing and law enforcement responses. It appraises the success of different approaches to preventing and addressing crime, and presents practical suggestions with a focus on partnership working, education and awareness-raising, information-sharing across industry, and intelligence-led policing.

‘The Implications of Economic Cybercrime for Policing’ was commissioned by the City of London Corporation, supported by the City of London Police, and prepared by Cardiff University.

Economic-Cybercrime-FullReport