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At least four large Internet banks in Britain have been subjected to attacks from computer hackers. In each case, at least “hundreds of thousands of pounds” was stolen, but the banks concerned have been reluctant to report the thefts for fear that it will damage the credibility of online banking.
The startling announcement was made at the launch of the National Hi-Tech Crime Unit, a specialist police unit set up by the Home Office to target criminals committing fraud via the Internet (‘Internet cybercops are go’, News, SMT, January 2001, p7). The unit, initially employing 40 officers trained specifically for the job, is based at a secret location in London and represents a GB pound 25 million investment sanctioned by Home Secretary Jack Straw to tackle cybercrime.
Speaking about the bank attacks Bill Hughes, director general of the National Crime Squad, told SMT: “If businesses claim they are not being ‘hacked’ then they’re not being entirely truthful. Money is ‘going electronic’, and where money goes the criminals will surely follow.” Jack Straw added: “Technology is already changing the way criminals operate. They will look for the highest return with the least risk. If we look to the future the equation is relatively simple. Money is ‘going electronic’, and where the money goes the criminals will surely follow. We must make sure that the police’s investigative techniques keep pace with developments in new technology.” The new police unit is headed up by detective chief superintendent Len Hynds, and is staffed by a mixture of investigative officers, forensic experts, computer consultants and support staff. They will investigate all kinds of serious and organised crime, tracking down ‘cyber robbers’ who forge credit card numbers, although they will not be “patrolling the Internet or intercepting e-mails. We lack the inclination, capability and legal power to do that,” said Hynds.
However, Internet service providers are being asked to hold onto communication details of their customers’ accounts. In this way, the police will then be able to hunt down e-mail recipients and the sites they’ve visited.
A White Paper published by Syncra, the networking specialist division of Comunica, suggests that 50% of UK businesses are leaving themselves open to accusations of negligence because they haven’t taken steps to guard against cyber liability (the legal liability that comes from the commercial use of Internet and e-mail services).
“The danger with electronic copy is that it’s far too easy to distribute,” said Rick Marshall, Syncra’s executive director. Employers have to demonstrate that that they were unaware of inappropriate content on their companies’ equipment, and not negligent.” Although no IT network can ever be 100% secure, Syncra’s White Paper offers end users salient tips on how they can best protect their networks from hackers.
For copies of the paper, entitled ‘A firewall is not enough’, telephone Stella Christodoulou on 0800 7312979.
Hacking thefts endanger online banks’ credibilityAt least four large Internet banks in Britain have been subjected to attacks from computer hackers. In each case, at […]
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