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It is the act which deals with unauthorized misuse of stored data on a machine. It may involve hacking the system security or asking for permission to access file or entering the system to access the bank details of the computer owner. As per the act, if somebody has been found guilty of accessing the details of another computer without the permission of the owner and has been misusing it for some benefit, he can be prosecuted. If found guilty can be sent to prison for two years and imposed £5,000 fine. If a person gains access to a machine without permission to steal their data, they can receive a sentence up to 10 years and can be fined of unlimited amount depending on the severity of the offense. The act was introduced in 1991 but the rise of cybercrimes in the past 20 years and the growth in alternative investment market where new methodologies were adopted by the attackers led to the development of new laws and sections, which now includes even supplying and obtaining articles for malicious purposes, which have been classified as an offence, where the owner of tools or kits are considered illegal.
Although there are various other provisions for the alternative investment market where the judge may look into the way the tools were used. There are some laws that fall under the cyber warfare or terrorism where the activities that create serious damage to the fuel distribution system, food or supplies fall under the category.
The civil rights groups have contended the laws give full rights to the police and exemption as per the law to exercise their duties, and there are certain cases against the European Court of Human Rights which were brought by the Privacy International and 5 others against the UK.
In the last 12 months to June, the numbers of such crimes have declined but it has also been found that earlier lesser number of alternative investment market related crimes were being reported and investigated. Investigators state until the reporting system improves, one cannot completely get rid of it.
The ONS found more than 4.5m cybercrimes were committed in the country where only 3.2 were reported which included 1.2 m cases of computer misuse.
There has been a decline in such cases by 30% in 2018 as compared to previous years and this was linked to the drop in the use of computer viruses. This year the number of bank transfer scams grew in the country by almost 40 percent where more than 1 million pounds a day have been hacked by the scammers. They stole over £616m from the bank customers in the first half of the year where multiple tactics are practiced by the hackers to target individuals and customers who are pressurized to send money in large sums to the criminal accounts.
The customers of the bank claim the financial organizations offering investment advice are not doing enough to protect their money, while, a voluntary code of conduct was introduced in May this year to improve the way these organizations treat such frauds.
To find out more about investment scams, click at 99 Alternatives
The most common Scam Investments include :
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Other common financial scams:
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Web: www.nationalcrimeagency.gov.uk
0370 4967622
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