London Police Service Announces War on Economic Crime
Operation Stimtone targeted several aspects of economic crime, including online fraud.
On May 29, London's Metropolitan Police Service (MPS) launched Operation Stimtone, a day of action focused on economic crime, with more than 300 separate operations targeting money laundering, identity fraud, stolen goods, conspiracy to defraud and more.
"Over the last few years there has been a massive growth in online business," the MPS said in a statement. "Many people routinely order products over the Internet. As technology has advanced, criminals have found new ways to steal and get their hands on expensive goods. The MPS will be working closely with the British Retail Consortium ... to catch and arrest people who hijack online shopping accounts for their own gain."
"'Retailers need customers to have confidence online. Online crime and fraud undermines that and causes costs for retailers, so of course retailers are very well placed to help police fight this kind of crime,' a spokesperson for the [British Retail Consortium] told TechWeekEurope," writes TechWeekEurope's Tom Brewster.
"Last year police seized £15 million in cash from criminals involved in economic theft, as well as obtaining court orders to retrieve £28 million worth of stolen goods and to stop criminals hiding stolen assets worth over £61 million," writes The Week's Clare Conway.