Computer Crime Research Center


Oh Lord, make the banks pay for cybercrime

Date: July 09, 2008
By: Davey Winder

The House of Lords Science and Technology Committee is urging the Government to introduce legislation to make banks pay for cybercrime coupled with a data security breach disclosure law for the UK.

There is a common perception amongst the British public and beyond, that members of the House of Lords can pretty much be summed up as a bunch of old duffers. Anyone who has watched the Parliament TV channel and seen their Lordships sleeping through debates and generally doing a good impression of Mr Burns and Grandpa Simpson will not disagree.

So when it decides to tackle an issue such as crime on the Internet, you might expect to be in for a roller coaster ride of technological misunderstanding and cultural misapprehension. Yet the House of Lords Science and Technology Committee has actually managed to sit down, stay awake, and produce some reasonable recommendations in its report published Tuesday.

The follow-up report on Personal Internet Security calls on the Government to do more to protect the citizen from cybercrime.

One of the more controversial recommendations being that there should be legislation "to establish the principle that banks be held responsible for losses incurred by electronic fraud."

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2008-07-12 15:21:21 - This (good) initiative is already beeing... Ana Vasconcellos
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