Fraud Advisory Panel
Registered Charity: 1108863
Registered Company: 04327390

Current Developments

Government Fraud Review

In October 2005 the Government announced a comprehensive and wide-ranging review of fraud and the harm it causes to the economy and wider society in the United Kingdom. A multi-disciplinary team of officials was established to undertake the review.

The terms of reference were to address the following questions:

What is the scale of the problem?
What is the appropriate role for government in dealing with fraud?
How could resources be spent to maximise value for money across the system?

[Source: Interim Report, Fraud Review Team, March 2006]

An interim report was published in March 2006 which analysed the amount of fraud in the United Kingdom and the public and private sector response to it.. This was followed by a final report which made a number of recommendations to create a package of measures to combat fraud in the United Kingdom. This report was published for consultation.

The Government response to the Fraud Review Consultation Fighting Fraud Together was launched by the former Attorney General, Lord Goldsmith QC on Thursday 15 March 2007. Amongst the package of anti-fraud measures announced were the establishment of:

A National Fraud Strategic Authority (NFSA)
A National Fraud Reporting Centre (NFRC); and
A National lead force for fraud in England and Wales.

These recommendations are now being taken forward by the Fraud Review Implementation Team with input from stakeholders in both the public and private sectors. Progress reports are available from the Attorney General's office.

In October 2007 the Government announced, as part of the Comprehensive Spending Review, £29 million of funding to implement the key recommendations of the fraud review.

Key Milestones

2005
October	Government announces review of fraud. A multi-disciplinary team of officials is established to undertake the review.
2006
March	Interim report of the Fraud Review published.
July	Final report of the Fraud Review published. Consultation period commences.
October	Consultation period closes.
2007
March	Government response to the fraud review consultation paper published. It includes a summary of responses to the consultation.
October	Government funding of £29 million announced to implement key recommendations.

Development of a National Occupational Standards For Countering Financial Crime

The Financial Services Skills Council (FSCC) launched a project on 1 November 2007 to develop National Occupational Standards for countering financial crime focussing on financial fraud, market abuse and terrorist financing. For further information visit www.fssc.org.uk.