Executive Summary
This policy paper has been drafted by the Fraud Advisory Panel (the Panel) in response to Lord Hanson’s revised and expanded Fraud Strategy, part of the Government’s plan for the public and business to be better protected from every aspect of the UK’s growing fraud threat.
Introduction
Fraud is a rapidly evolving and increasingly sophisticated crime that exploits emerging technology to pose significant risk to economic stability, governance and public trust, with an estimated 70% of fraud now including an international element. Fraud and cybercrime make up 50% of all online crime in the UK. As part of this response, the Fraud Advisory Panel working group has responded to six of the areas addressed by Lord Hanson:
- Data Sharing
- Technology
- Business and Growth
- Public Awareness
- Artificial Intelligence (AI)
- Criminal Justice System
Though each area has been reviewed independently, it is imperative to note that the increasing pace of change, the fraud threat, an effective and dynamic cross-sector international response, the importance of tackling fraud while promoting economic growth, and the vital role of clear communication to engage with the public in the conversation are crucial to a successful outcome.
