You are here: Home - News -

Hi-tech crime is a big problem says software provider

  • 01/04/2000
  • 0
The internet and digital television could be the new Klondike for hi-tech criminals, Marlborough Sti...

The internet and digital television could be the new Klondike for hi-tech criminals, Marlborough Stirling has warned.

Although there is still a need for Government legislation, Marlborough Stirling said that, in the meantime, it was committed to providing the most protective technology available to front its applications.

David Edwards, Marlborough Stirling’s director of e-commerce, said that some of the more recent high profile cases reported in the media, including mobile phone bandits who stole £1m worth of premium rate calls from Scotland Yard’s own switchboard, had created a climate where the public’s fear of electronic crime may become greater than the actual risk.

Detailed statistics on the extent of electronic swindles in the UK have yet to be published as the sector is so young.

However, latest figures from PricewaterhouseCoopers show fraudulent internet transactions in the US are now responsible for half of the nation’s £20bn total fraud.

Edwards said: “Criminals may, at this very moment, be dedicating themselves to working out how to hack into financial services transactions on the internet or interactive TV. The Metropolitan Police computer crime unit has been reported saying that the internet was creating a whole new class of criminal.

“They might be iniquitous, but they are also extremely clever and technologically astute, and they are determined to exploit what they see as a vast new area for highly profitable activity.”

Although the risk to lenders and borrowers is minimal, where the correct infrastructures have been set up, security should not be taken lightly.

Edwards added: “There is no point in having the technology if you do not use it properly. You need to carry out penetration tests on a regular basis , perhaps using so-called ‘ethical hackers’ to check accounts are secure.”


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Skipton ‘reluctantly’ moves to introduce charitable assignment

Skipton Building Society has become one of the final top 20 mutual societies to introduce a charitab...