header-logo header-logo

13 January 2023 / Paul Brehony , Kate Gee
Issue: 8008 / Categories: Features , Fraud , Criminal
printer mail-detail

Fraud: under-resourced & under-prioritised?

Fraud costs us £190bn each year: Paul Brehony & Kate Gee review the House of Lords’ post-inquiry recommendations
  • Covers the November 2022 report by the House of Lords’ Digital Fraud Committee, ‘Fighting fraud: breaking the chain’.
  • Highlights key recommendations and six steps to tackle fraud, including asking the Payment Systems Regulator to look into slowing down certain payments and creating ‘failure to prevent’ corporate criminal offences.

A recent report by the House of Lords asserts that the UK’s battle against fraud is ‘under-resourced, under-prioritised, and its impact is widely under-estimated’. The report, ‘Fighting fraud: breaking the chain’, was published in November 2022 by the Digital Fraud Committee, a committee appointed by the House of Lords to consider the Fraud Act 2006 and digital fraud.

Baroness Morgan of Cotes, chair of the committee, concluded: ‘Successive governments have failed to tackle fraud with the priority it deserves. If citizens were being routinely mugged and having millions of pounds stolen from their wallets in broad daylight, every organisation

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Constantine Law—Anita Vadgama

Constantine Law—Anita Vadgama

New senior partner hire at consultant-led employment / regulatory law firm

Ward Hadaway—Emma Swann & Jill Donabie

Ward Hadaway—Emma Swann & Jill Donabie

Firm adds two partners to growing education practice

mfg Solicitors—Lauren Collins, Emily Stancer & Sara Southall

mfg Solicitors—Lauren Collins, Emily Stancer & Sara Southall

Trio of newly qualified solicitors strengthens Worcester office law firm

NEWS
The treasury has sought to reassure the legal profession over concerns about cost, bureaucracy and independence when the Financial Conduct Authority (FCA) takes over regulation of anti-money laundering compliance
One out of two barristers has come under pressure from clients to act unethically, according to the results of this year’s Barristers’ Working Lives survey
The Court of Appeal has held the Competition Appeal Tribunal (CAT) was wrong to set aside a Competition and Markets Authority (CMA) decision on unfair pricing of phenytoin, an epilepsy drug
A flagship employment law reform is due to come into effect on 1 July, extending unfair dismissal rights to employees after six months in their job instead of two years
The European Council has postponed the EU-UK summit, where discussions on a youth mobility scheme and other issues had been due to take place, due to Prime Minister Keir Starmer’s resignation
back-to-top-scroll