November 8, 2014,
Legal update 
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Treasury Committee chairman Andrew Tyrie MP is to question banks over allegations that they may be under-reporting instances of bank fraud because they don’t want to frighten people.
Tyrie made his comments following a Treasury Select Committee hearing into cybercrime and fraud held as part of its inquiry into the ‘Treatment of Financial Services Consumers’.The Committee heard evidence from Dr Richard Clayton, a senior researcher in security economics at the University of Cambridge, who said that banks are reluctant to report the true extent of cybercrime for fear of spooking customers.
Read More He told the Committee that “insider” accounts of fraud losses are double the numbers gener...
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