Better use of technology needed
It is plain to all that technology plays a huge role in tracking online fraud, highlighting data patterns and providing insights that allow law enforcement to get ahead of the scammers.
The City of London police will continue to oversee fraud policing but will be changing its model for procurement in support of this new strategy. The current setup was procured in 2015 and the world has moved on at speed since then. Technology has improved, scammers have grown more adept and adaptable at using it – and the demand for anti-fraud capacity has increased significantly.
A City of London Police spokesperson told the International Adviser:
“The City of London Police, as national lead force for fraud, continue to strive to improve the victim experience… reduce harm and prevent fraud. In support of this, and to benefit from new available technologies which can help us cope with increased demand, work is already well-underway to create a new and improved system for reporting fraud and analysing those reports. Our contract with IBM, who currently provide the system used by Action Fraud, the national fraud and cybercrime reporting centre, and the National Fraud Intelligence Bureau (NFIB), expires in 2022. The system we need must be designed and procured carefully… We are speaking to a number of different companies who believe they have the best solution for what we require.”