PARLIAMENTARY WRITTEN QUESTION
Fraud (4 October 2024)

The Government takes the issue of fraud very seriously and is dedicated to protecting the public from this devastating crime. Close collaboration with industry partners, especially the financial industry, is key to ensure that fraud schemes are disrupted and consumers safeguarded.

The Home Office continues a regular dialogue with financial institutions to discuss and implement additional initiatives to combat fraud and protect our citizens. A result of this public-private partnership approach to date have been world-leading schemes such as the Banking Protocol, the Money Mules Action Plan and the Retail Banking Sector Charter. These actions, as well as those in the wider fraud strategy, have contributed to incidences of fraud decreasing by 14% from 2019 levels.

The Government will continue to work hand-in-hand with financial institutions as we continue to develop new and innovative ways of protecting the UK public from the threat of fraud.