Cyber Crime fraudsters to make £80m during Christmas 2022

Cyber Crime, also synonymously referred to as online fraud, is reported to surge in this Christmas 2022 festive season and so online users are reported to lose around £80 million pounds over the next 10-15 days.

UK’s Labour party conducted a survey and revealed the above stated stats as facts and warned that the number might go double fold as the hackers were hitting families that are already jostling to meet daily expenses with the rising bills.

The revelation comes just a few days after a few of the Labour Party United Kingdom’s members raised an alarm against the delay in the ‘online safety bill’, accusing the government to be supporting criminals.

Britain’s Online Safety Bill allows the social media websites and the search engine giants to publicly tarnish the image of impostors and scammers on their platform. And any further delay in the action can cause the cyber crooks gain confidence that they can do anything, as the government will just watch the crisis as mere spectator/s.

However, for the bill to get into action, political parties should transform the draft into a legislation and this probably looks impossible as ministers are seen bending towards vested interests, instead of siding with the consumers.

Note 1- Under the leadership of the ex-Prime Minister-ship of Boris Johnson in association with his team and NCSC, wiped out around 1.6 million online scams in the past year. And the govt proposed to spend an additional £400m in the next 3 years to bolster the law enforcement response against cyber-crime.

Note 2- The issue might need some more time to grab the attention of current Rishi Sunak as his government is trying its best to stabilize itself politically and then rectify such matters.


Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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