It’s been 15 years since the Fraud Act 2006 took effect, and the scale and types of fraud have changed considerably.
In this week’s NLJ, Stewart Hey & Abigail Rushton, of Charles Russell Speechlys, assess the Act’s success to date and outline outstanding issues.
Hey & Rushton contend that, for the Act to continue to succeed, three key issues should be considered—sentencing, the Act’s extra-jurisdictional reach, and the technological challenges of prosecuting fraud. They analyse each in turn.
Fraud is now the most common crime in England and Wales, and is said to cost the UK economy between £137bn and £190bn each year. Hey & Rushton write: ‘It is important that the UK has the legal framework to deal with the most complex cases of fraud and economic crime.’
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