Commissioner Adrian Leppard, head of City of London police, said online fraud is rising “exponentially”, with the largest number of attacks originating from Eastern Europe and Russia.
In a stark warning to MPs earlier this month, he said police are struggling to keep up with increasingly sophisticated internet criminals.
Keith Vaz, chairman of the commons Home Affairs select committee, suggested to Mr Leppard that internet criminals “keep running rings around some of the best police officers in the country”, adding: “Are we winning this battle?”
Mr Leppard responded: “We are not winning. I do not think we are winning globally, and I think this nature of crime is rising exponentially.”
The National Fraud Intelligence Bureau has identified some 300 internet fraud gangs worldwide, Mr Leppard told MPs. Groups in 25 countries have chosen Britain as their main target.