In a rousing keynote at today's London Web Summit, venture capitalist Saul Klein said the UK is the world leader in developing an internet-based economy, but needs to invest in its future.
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Detective Chief Superintendent Ken Farrow, head of the City of London Police Fraud Squad and chairman of the ACPO National Working Group on Fraud estimates fraud accounts for losses of 14 bln pounds to the UK economy annually. In 2003, credit card fraud losses alone were over 402 mln pounds, as a result of theft, counterfeiting and other types of card crime.
More gloom fell upon the dot-com economy today as news of further UK b2c failures emerged. Flagship b2c site Lastminute.com's share price fell below 100p for the first time on the London Stock Exchange yesterday. On the opening of morning trading the price continued to fall, down 9 per cent to 85.5p.