Fraud Without Frontiers

[John Young <jya@pipeline.com>]

FT reports on a new Deloitte & Touche report, "Fraud 
Without Frontiers" on the EU "fraud paradise." It sees 
10 areas of concern:

  "Computer abuse, banking frauds, counterfeiting,
  investment fraud, confidence tricks, public sector
  fraud, fraudulent bankruptcy, insurance fraud,
  smuggling and money laundering.

  The largest single threat comes from fraud through the
  Internet. The potential for abuse of computer systems
  is huge, particuarly since encryption technology is
  vulnerable to sophisticated computer users. The Internet
  is now being used to manipulate financial markets.

  Fraudsters are becoming more sophisticated. Inside dealers
  are making more use of offshore havens to avoid detection
  while criminal syndicates with knowlege of banking
  practice have cheated banks.

  'Offshore havens', some inside the EU, remains a common
  feature of fraud. But with some EU economies closely
  linked to the offshore world, the incentive to push for
  reform in this area is limited"

The report is available from D&T-UK for L95. (Hint, send)

  http://www.deloitte-touche-consulting.co.uk/main.html

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D&T has a Web page, "Taking the Mystery Out of ..." which
gives solace about encryption, passwords, firewalls, 
kerberos, and such:

  http://www.dttus.com/dttus/publish/mystery/mystery1.htm