James Thomson, chair of the City of London Police Authority Board, has announced plan for a new £152m anti-fraud web site. This will replace Action Fraud. The objective is to tackle fraud and cybercrime more effectively. This is in response to criticism by MPs on the Public Accounts Committee. They described the current reporting system as “unfit for purpose.” Mr Thomson insists that the new service will speed up the time it takes to report offences. It will keep victims informed of progress and quickly close fraudulent websites and bank accounts.

BFS Comment:

We at BFS suffered a Cyber attack back in 2022. Action Fraud acted swiftly and prevented any serious damage. Anything that can be done to further improve the protection available to SMEs is to be encouraged. this is especially so when the perpetrators are based overseas!