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Fraud

Inquiry

According to the Government, fraud is the most common crime, accounting for over 40% of all offences in England and Wales. Figures from the Crime Survey of England and Wales reveal that there were 3.7 million incidents of fraud in England and Wales in the year ending December 2022. This peaked during the COVID-19 pandemic, with 4.64 million incidents being reported. The National Crime Agency (NCA) estimate that 86% of fraud instances go unreported, that the scale of fraud “is very significant” and that “under-reporting also hampers our understanding of the threat”. According to the NCA, fraud is increasingly committed online. Where previously a fraud may have been committed by phone, post or in person, “online access enables fraudsters to exploit victims remotely, often from another country”. The City of London Police estimates that 70% of fraud originates abroad or has an international element.

On 3 May 2023, the Home Office launched its new Fraud Strategy in which it recognised that fraud has returned to pre-pandemic levels. The aim of the Strategy is to “set out a plan to stop fraud at source and pursue those responsible wherever they are in the world”. The Strategy sets out a number of ambitions, including to “cut fraud by 10% from 2019 levels”, aiming to reduce the number of frauds committed to 3.33 million by the end of this Parliament. The Strategy sets out a number of ways in which it will tackle fraud, including:

  • Banning cold calls on all financial products
  • Banning sim farms
  • Stop people from “hiding behind fake companies and create new powers to take down fraudulent website”
  • Launching a new national fraud squad with over 400 new specialist investigators
  • Lead a new global partnership to “relentlessly pursue fraudsters through better investigation and prosecution processes for fraud and digital offences”

This inquiry is no longer accepting evidence

The deadline for submissions was Friday 20 October 2023.

Upcoming events

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Past events

Wednesday 13 March 2024
9:30am Public
Fraud - Oral evidence 13 March 2024
9:30am
  • Mark Cheeseman OBE (Chief Executive at Public Sector Fraud Authority)
  • Simon Fell MP (Prime Minister's Anti-Fraud Champion at Home Office)
  • Nick Ephgrave QPM
10:30am
  • Rt Hon Tom Tugendhat MP (Minister for Security at Home Office)
  • Duncan Tessier (Director of Economic Crime at Home Office)
  • The Baroness Vere of Norbiton (Parliamentary Secretary at HM Treasury)
  • Anna Harvey (Deputy Director (Payments and Fintech) at HM Treasury)
The Grimond Room, Portcullis House
Wednesday 28 February 2024
9:30am Public
Fraud - Oral evidence 28 February 2024
9:30am
  • Nik Adams (Assistant Commissioner at City of London Police)
  • Chris Bell (Service Delivery Director at City of London Police)
  • DCI Clare Chandler (Head at Regional Economic Crime Unit, North East Region)
  • James Babbage (Director General of Threats at National Crime Agency)
10:30am
  • CCP Andrew Penhale (Head of the Regional and Wales Division at Crown Prosecution Service)
  • Steve Smart OBE (Joint Executive Director of Enforcement & Market Oversight at Financial Conduct Authority)
  • Richard Las CBE (Director of Fraud Investigation Service at HM Revenue and Customs)
The Grimond Room, Portcullis House
Wednesday 7 February 2024
9:00am Private
9:30am Public
Fraud - Oral evidence 7 February 2024
9:30am
  • Paul Davis (Financial Crime Prevention Director at TSB Bank)
  • Woody Malouf (Global Head of Financial Crime at Revolut)
  • Chris Ainsley (Head of Fraud Risk Management at Santander Bank)
10:30am
  • Philip Milton (Public Policy Manager at Meta)
  • Alex Towers (Director of Policy and Public Affairs at BT Group)
  • Simon Staffell (Government Affairs Director at Microsoft)
The Grimond Room, Portcullis House
Wednesday 17 January 2024
9:00am Private
9:30am Public
Fraud - Oral evidence 17 January 2024
9:30am
  • Mike Haley (Chief Executive at Cifas)
  • Richard Hyde (Senior Researcher at Social Market Foundation)
  • Sophie Davis (Director of Research at Crest Advisory)
10:30am
  • Professor Nicholas Ryder (Professor in Financial Crime at Cardiff University)
  • Professor Nicholas Lord (Professor of Criminology at The University of Manchester)
  • James Babbage (Director General of Threats (Economic and Organised Crime) at National Crime Agency)
The Thatcher Room, Portcullis House

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