PARLIAMENTARY WRITTEN QUESTION
Economic Crime (20 April 2022)

To ask the Secretary of State for the Home Department, what recent assessment her Department has made of the adequacy of funding available to effectively (a) investigate and (b) prevent fraud and other economic crime.

Asked by:
Jonathan Reynolds (Labour)

In total, the SR21 settlement and the Economic Crime Levy represent an overall package of circa £400 million to tackle economic crime over the next three years, including support for the National Economic Crime Centre (NECC) and law enforcement.

This investment will allow us to: continue to deliver our in-flight Suspicious Activity Reporting and Illicit Finance programmes, as well as investing in new fraud and anti-money laundering capabilities. For fraud, we will invest in the law enforcement response, work with industry to remove the vulnerabilities that fraudsters exploit online, and replace the current Action Fraud system with a new Fraud and Cyber Reporting and Analysis Service.

Answered by:
Damian Hinds (Conservative)
27 April 2022