The internet has become a playground for criminals in which highly specialised gangs steal money from bank accounts, according to a Parliamentary report published today.
A huge underground economy is making a living from e-crime, which fuels the perception of the internet as a lawless “Wild West”, the peers report said.
Millions of pounds are being lost by banks around the world as a result of online banking fraud, including £33.5 million lost by British banks last year.
Just when you thought it was safe to go in the water.