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Magnifying glass revealing "SCAM!" warning against online financial scams promising quick returns. - Supply Chain News

UK’s Response to Fraud Crisis Inadequate, MPs Warn

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UK’s Response to Fraud Crisis Inadequate, MPs Warn

by Richie
10/18/2022
in Fraud & Scams, Security & Risk

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The UK’s justice system is currently facing challenges in handling the growing issue of fraud, according to a report by the justice select committee. Despite fraud representing 40% of reported crime, only a minimal portion of police funding is allocated to combat it. The committee, comprised of MPs from various parties, has criticized the current approach to addressing fraud, noting the inadequacy of Action Fraud, the national center for fraud and cybercrime reporting, and calling for a comprehensive strategy to deal with the increasing number and sophistication of these crimes.

The recent statistics from the Office for National Statistics indicate a 25% rise in fraud cases over the last two years, with 4.5 million incidents reported within a year. This surge in fraudulent activity includes a variety of scams, particularly those involving advance payments for goods or services that are never delivered.

Concerns have been raised regarding the potential impact of upcoming government budget decisions on the justice system’s capacity to effectively manage fraud. The committee, led by Conservative MP Sir Bob Neill, has highlighted the urgency for the justice system to adapt to the evolving landscape of fraud, emphasizing the need for enhanced resources and a more concerted focus on prevention, investigation, and prosecution.

The report points out the lack of clarity in government responsibility for tackling fraud, which spans across different departments, including the Treasury and the Department for Work and Pensions. It suggests that police forces are in a state of confusion regarding their roles, with local forces handling investigations while national agencies like the City of London police and the National Economic Crime Centre outline strategic directions.

The committee calls for the government to provide sufficient funding to empower police forces to prevent and enforce actions against fraud, stressing the need for clearer delineation of responsibilities among national and local policing bodies. It also emphasizes the necessity for increased awareness and support for local forces handling fraud cases.

Plans are underway to improve the Action Fraud website by 2024, with the government voicing its commitment to tackle fraud and protect the public from financial crimes. The upcoming fraud strategy aims to explore all possible measures to pursue fraudsters and safeguard vulnerable targets from such offenses.

Get the latest supply chain report news insights at The Supply Chain Report. For international trade resources, visit ADAMftd.com.

#UKFraudChallenges #FraudPrevention #ActionFraudReform #JusticeSystemOverhaul #FraudAwareness #FinancialCrimeSolutions #FraudInvestigation #PoliceFunding #FraudStrategy2024 #NationalFraudResponse

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