In response, he is promising that in 2014 the Met plans “a major step change in the way we deal with cyber crime and fraud in London by establishing what will be a world-leading unit to counter them. We plan to dedicate hundreds more officers solely to these types of crime.”
And while the Met going cap in hand to the banks for funding may be a controversial approach - independent cyber security expert Mark Stollery of PA Consulting told SCMagazineUK.com there are precedents.
Stollery said the City of London Police force Insurance Fraud Department (IFED) is funded by Association of British Insurers members, and the Dedicated Cheque and Plastic Crime Unit (DCPCU) – made up of officers from the City of London and Met Police forces – is fully sponsored by the banking industry.
Stollery told SC: “I can see why the banks may be sucking their teeth and saying this is police work - but the fact is the banks are going to be suffering indirectly because they're having to pick up the pieces of their customers who are going to be suffering. However unjustifiably, they will be risking a bit of reputational damage.”
Via Svend Aage Christensen