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Oh Lord, make the banks pay for cybercrime |
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by Davey Winder
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Wednesday, 09 July 2008 |
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Page 3 of 3 Lord Sutherland of Houndwood, Chairman of the Lords
Science and Technology Committee, said "we are disappointed that they
still will not accept that there should be legislation to establish the
principle that banks should be liable for refunding the victims of
online fraud. The Banking Code does not offer enough protection. We
believe that legislation would have the added advantage of encouraging
the banks to be more proactive about improving the security of their
online banking operations."
On the matter of police reporting, Lord
Sutherland commented "It is also vital that the victims of e-crime can
report crime directly to the police. If you were robbed in the street
you would expect the police to recognise it as a crime and try to catch
the person responsible. If you are a victim of online fraud, you should
be entitled to the same protection."
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