Chronicle Solutions advises how to avoid the £330 'fraud tax'

Recent news from the Association of Chief Police Officers (Acpo) that fraud is costing Britain £20bn a year, if not more, underscores the need to bring the latest tools and technologies to the fight against it.

Fraudsters are stealing an average of £330 per Briton each year, and organisations must use employ a new generation of technological advancements if they are to beat criminals at their own game, say network monitoring and recording specialists Chronicle Solutions.

"Electronic fraud contributes significantly to the baseline £13.9bn per year lost by the public sector, businesses and individuals in fraud costs," says Alan Watkins, Executive Chairman, Chronicle Solutions.

"Data-compromise fraud, websites that appear to be genuine businesses, phishing, vishing via VoIP and online banking fraud are rife and now accepted as an inescapable part of modern living. All of us know one, or maybe several people who have fallen victim to one type of electronic fraud or another," continued Alan.

Chronicle Solutions warns that apathy is dangerous and will only spur fraudsters on. "Today, we can monitor and capture all user communications on company networks, in real-time and retrospectively.

We can see exactly what a user has sent or received via email or IM, what they actually view and do at the Web sites they visit. This is an extremely powerful tool in identifying dangers such as bogus websites, emails and blogs, and one which could help significantly reduce the £330 'fraud tax' all of us could put to better use."