Bira calls action to disrupt global fraud and cyber crime networks a 'welcome development'

The UK is working with the US, Canada, Australia and New Zealand to strengthen international efforts to tackle fraud and online scams, with governments, law enforcement and industry set to work more closely to identify and disrupt criminal networks.

Bira CEO Andrew Goodacre said the move was welcome as criminals increasingly operate across borders, warning that cybercrime is a growing problem for businesses of all sizes, not just major retailers.

The measures were backed at the Five Country Ministerial in Sydney by Home Secretary Shabana Mahmood and her counterparts, and will include faster intelligence-sharing to identify fraud operations spanning multiple countries, including scam centres.

Governments, law enforcement and industry will also coordinate action to shut down the accounts, services and communications channels used by criminals to target victims and move illicit funds, while telecommunications providers, technology companies and financial institutions will help develop recommendations to strengthen protection against online scams and financial crime.

For high street businesses, the increased focus on cooperation is particularly relevant as independent retailers can also be targeted by scams, fraud and other forms of cybercrime, with criminals exploiting digital systems and communications used by businesses to steal money or sensitive information.

The Five Eyes partners have also backed enhanced international support for the UK-led INTERPOL Global Fraud Taskforce, which will map organised fraud networks, generate intelligence, identify links between criminal groups and support international operations to disrupt their activities.

Home Secretary Shabana Mahmood said: “Fraud is a scourge on our society, ruining lives and costing victims billions of pounds every year.

“Criminal gangs don’t respect borders, so our response can’t be restricted by them. By deepening international co-operation and working more closely with industry, we can track down fraudsters, disrupt their operations, and better protect the public.

“Together, we must make it harder for criminals to profit from fraud and easier to bring them to justice.”

The government has also committed £250 million through its new Fraud Strategy to strengthen law enforcement capabilities, tackle scams at their source and improve support for victims.

For small and medium-sized retailers looking to strengthen their defences, the NCSC is holding a webinar on cyber resilience, covering practical steps businesses can take to protect themselves from cyber threats.

Find out more here.