The UK, US, Canada, Australia and New Zealand have agreed new measures to disrupt international fraud networks, as Bira highlights the cybercrime risks facing smaller retailers.
The Five Eyes countries have backed a UK-led package of measures to disrupt international fraud networks and online scams through closer cooperation between governments, law enforcement agencies and the private sector.
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The agreement was reached at the Five Country Ministerial in Sydney on 27 August, with the UK, US, Canada, Australia and New Zealand committing to faster intelligence-sharing and coordinated action against criminal networks operating across borders.
The British Independent Retailers Association (Bira) welcomed the initiative, highlighting the threat facing independent retailers as businesses become increasingly reliant on digital services.
Bira CEO Andrew Goodacre said: “Cybercrime is a growing problem, and this trend is likely to continue.”
He said a coordinated international response was needed because criminals “do not respect borders as they look to scam individuals and companies alike”.
“We must also remember that cybercrime is not just for the large retailers,” Goodacre added.
Five Eyes targets cross-border fraud
Under the agreement, governments and law enforcement agencies will increase intelligence-sharing to identify and disrupt fraud operations spanning multiple countries, including organised scam centres.
Authorities will also coordinate efforts to shut down accounts, services and communications channels used by criminals to target victims and move illicit funds.
Technology companies, telecommunications providers and financial institutions will work with governments to develop recommendations aimed at strengthening action against online scams and financial crime.
UK Home Secretary Shabana Mahmood said the international nature of organised fraud required a coordinated response.
“Criminal gangs don’t respect borders, so our response can’t be restricted by them,” Mahmood said.
“By deepening international co-operation and working more closely with industry, we can track down fraudsters, disrupt their operations, and better protect the public.”
The measures are designed to help authorities identify links between fraud operations and take action against the infrastructure used by criminal groups across multiple jurisdictions.
Independent retailers face cybercrime risks
The initiative has particular relevance for independent retailers, which can be targeted through the digital services they use to run their businesses.
Online banking, digital payments, email and e-commerce systems can all be exploited by criminals seeking to steal money or information, or gain access to business accounts and systems.
Bira said smaller businesses need to recognise their exposure to cyber threats and pointed retailers towards National Cyber Security Centre (NCSC) resources designed to help small and medium-sized organisations strengthen their cyber security.
Goodacre’s warning that cybercrime is “not just for the large retailers” highlights the exposure of independent businesses, which may have fewer resources to devote to cyber security than larger retail groups.
The Five Eyes measures broaden the response beyond individual businesses by targeting the networks and infrastructure used to conduct fraud across borders.
Five Eyes backs INTERPOL fraud taskforce
The five countries also agreed to increase international support for the UK-backed INTERPOL Global Fraud Taskforce.
The taskforce brings together governments, law enforcement agencies and industry to map organised fraud networks, develop intelligence and identify links between criminal groups operating in different countries.
It also supports coordinated international operations against fraud networks.
The measures sit alongside wider UK efforts to combat fraud. The government has committed £250m through its Fraud Strategy to strengthen law enforcement capabilities, tackle scams at their source and improve support for victims.
The domestic programme is separate from the Five Eyes commitments, which focus on international cooperation and cross-border enforcement.
For retailers, the agreement puts greater emphasis on disrupting the networks behind fraud, while businesses continue to strengthen their own defences against cybercrime and online scams.
