Tech giants, banks and governments join forces to combat international fraud
Tech giants, banks and governments are planning to join forces to fight against international fraudsters.
Interpol's boss, Jurgen Stock, said that countries need to work together so there are "no safe havens for financial fraudsters". Representatives from the UK, US, Canada, Australia and New Zealand - known as the Five Eyes intelligence partnership - will be at the Lancaster House summit. Other countries involved include France, Germany, Italy, Japan, Singapore and South Korea.
Big tech companies like Amazon, Apple, Google, Meta, TikTok and LinkedIn will also be there, along with banks including HSBC, NatWest, Santander, Visa and national and international banking groups. Interpol is expected to reveal a worrying increase in fraud all over the world.
Mr Stock said: "Changes in technology and the rapid increase in the scale and volume of organised crime has driven the creation of a range of new ways to defraud innocent people, business and even governments. Urgent action is required. It is important that there are no safe havens for financial fraudsters to operate."
About 70% of fraud crimes in the UK are linked to international criminals, with £3 billion lost to overseas accounts last year. Interpol has told us that bad people, including those who make others work for them, use scam centres to trick people everywhere.
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Home Secretary James Cleverly said: "Fraudsters have no regard for boundaries, they devastate citizens in all our countries. We will only put a stop to this scourge if we fight it head-on together and that's precisely what we plan to do."
Mr Cleverly added: "Fraud is often an overlooked crime. It often happens invisibly, it often happens in a way that the victim is unaware of. Victims can feel too embarrassed to do anything about it, perhaps feeling that they are foolish, and they somehow deserve what has happened to them."
"This is the first time we are meeting formally internationally to work on how we fight fraud, how we prevent fraud and how we bring fraudsters to justice. The main rationale for actually physically coming together is this is an opportunity to exchange notes, to exchange ideas, to exchange business cards and phone numbers. I've always said if you're not networking, you're not working, so please, please, please take this opportunity to connect."
The Princess Royal also spoke on Sunday night, saying she hoped people would talk about how fraud really affects ordinary folks all over the world, especially those who can't protect themselves well. "Fraud undermines the foundations of trust and integrity... it tarnishes the reputation of businesses of any size," Anne said. "
She added: "Sometimes the key is the fraudsters themselves who do not take their crime seriously. Fraudsters need to understand more clearly how much damage can be done this way."
Anne stated that tackling the problem of fraud won't be a "simple challenge" and both governments and private organisations alike have a "duty to protect citizens against fraud. That requires a concerted effort from the private sector and civil society," she said. "Hopefully together we'll strive to create a future where the dignity and wellbeing of every individual is safeguarded against exploitation."
Graeme Biggar, director general of the National Crime Agency, expressed: "Over 70% of fraud has an international element and it is clear that we need an efficient and effective joint response with partners across the globe. The global fraud summit is an important step forward, bringing together colleagues from the public and private sectors to tackle this persistent and pervasive threat."
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