Originally published at CityAM
It is a sad fact that innovation and fraud go hand in hand. For as long as people have been inventing things, there have been others seeking to exploit these creations for criminal activity. With digital technology so deeply integrated into all aspects of our lives, cyber-crime is only increasing as a threat.
As we live more of our financial lives online, so the potential for fraud expands.
This risk was rammed home earlier this month when Tesco Bank revealed it had suffered a major attack.
When the supermarket expanded into banking in 1997, it was a welcome new entrant to a market dominated (as it is still) by a limited number of big players.