I agree. We’ve failed to combat fraud which not only leads to an erosion of trust but also perpetuates a ‘get rich quick’ myth for cyber criminals…:
[…] The case for treating fraud as a national security threat is rooted in the UK’s existing “serious and organized crime” legislation, which treats criminal enterprises of sufficient size or threat (including terrorist groups) in such a way. The paper argues for treating fraud, which is sometimes perpetrated online by nation-state threat actors or groups seeking to fund terrorism, similarly. The central proposed solution is to loop in intelligence tasking from the National Security Council in combating fraud groups of this nature, and increasing cooperation and data-sharing between different agencies. It also calls for counterterrorism agents to receive training in disrupting fraud operations.
Fraud has seen year-on-year growth in the UK in recent years, and the researchers now put the number at as much as £190 billion (or 10% of the UK’s GDP in 2017). The paper argues that the traditional “criminal justice” approach to investigating and prosecuting fraud is no longer adequate given that so much of it is now online and originates from sources outside the country’s borders. Reimagining it as a national security threat would provide the quickest path to putting the resources in place to combat it. […]