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Internet economy needs "greater co-operation" to halt cyber crime

A more co-operative approach towards the internet economy is required to combat problems such as cyber crime, the Organisation for Economic Co-operation and Development (OECD) has said.

Government ministers from across the globe agreed on the Seoul Declaration at a two-day ministerial conference in the South Korean capital, with an emphasis on promoting competition and protecting consumers.

The need to decentralise the approach to policy formulation was outlined by OECD secretary general Angel Gurría, who called for a more "networked approach to policy formulation for the internet economy that includes the active participation of stakeholders".

"Given that this infrastructure has become critical to our economies and societies, we should all engage in developing better, more broad-based, governance arrangements and policies," he said.

Member countries of the OECD, the European Community and ministers from Chile, Egypt, Estonia, India, Indonesia, Israel, Latvia, Senegal and Slovenia approved the declaration, which will be reviewed in three years.

Cyber crime is a growing problem, as a 2008 OECD analytical report illustrated. The report claimed that fear of online theft stops over 40 per cent of internet users buying products online.

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