Britain Losing War against Internet Crime, Warn MPs; 'ONLINE CRIMINALS PICK UK AS THEIR NO.1 TARGET'

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THE UK is losing the war against internet crime, an influential group of MPs has warned Despite being the preferred target of online criminals in 25 countries, the UK is still "complacent" towards e-crime as victims are "hidden in cyberspace", the Home Affairs Select Committee said.

The group of MPs said sufficient funding and resources for tackling online crime, which includes Identity theft, industrial espionage, credit card fraud and child exploitation, has not been allocated.

Tougher sentences for online criminals and improved training for police officers are recommended by the Committee to deal with the growing threat of cyber criminality.

Committee chair Keith Vaz MP said: "We are not winning the war on online criminal activity. We are being too complacent about these E-wars because the victims are hidden in cyberspace.

The threat of a cyber attack to the UK is so serious it is marked as a higher threat than a nuclear attack. You can steal more on the internet than you can by robbing a bank and online criminals in 25 countries have chosen the UK as their number one target. Astonishingly, some are operating from EU countries.

"If we don't have a 21st century response to this 21st century crime, we will be letting those involved in these gangs off the hook."

The group of MPs also called for a service similar to anti-online child abuse group Internet Watch Foundation to be formed for tackling the spread of terrorist material online.

Mr Vaz said: "Young people are increasingly radicalised online by the words of radical clerics such as Anwar al-Awlaki on You-Tube or internet magazine Inspire. What starts on the web, ends up on the streets of Woolwich."

Internet-based crime - committed by lone hackers, activist groups and nation states sponsoring industrial espionage - has been estimated by online security firm Norton to globally cost around PS250bn in financial losses. …