Cifas

Great to see the government focusing on public sector fraud so early in it's tenure. However, the retrospective focus needs to be matched with a forward-facing approach. Fraud is for life, not just for covid ....

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Fraud still by far the most common crime type according to the latest Office for National Statistics Crime Survey for England and Wales (CSEW) published today. Key findings for the year ending March 2024 include: 1. 3.2 million fraud incidents experienced by people resident in households - a 10% decrease compared with the previous year. 2. Within fraud offences, there were reductions in bank and credit account fraud (12%), advance fee fraud (23%), and other fraud (39%) compared to 2023. 3. Just over two million fraud incidents involved a loss (of money or property), with the victim fully reimbursed in 1.7 million of these incidents. 4. Fraud had the highest likelihood of victimisation (5.7%), followed by vehicle-related theft (3.2%). 5. Overall, one in seven fraud offences were reported to the police or Action Fraud. While a decrease may seem positive, fraud remains far too prevalent. Only through cross-sector collaboration and a commitment from government to prioritise prevention can the fraud prevention community continue to tackle this crime and protect individuals and businesses from significant harm. https://lnkd.in/eRGbsEhx #Fraud #FinancialCrime #EconomicCrime #FraudAwareness #FraudPrevention

Fraud can happen anywhere, so we must work to prevent it everywhere. Our Director of Strategic Solutions, Lloyd Emmerson sat down with IDnow to discuss how the private sector can harness data sharing, what changes we would like to see to the UK’s fraud strategy and the importance of a whole-of-system solution to a whole-of-system problem.

Recent reports reveal that around £7.4 billion is lost to benefit fraud each year. Following the publication of the latest Annual Report from the Department for Work and Pensions (DWP), The Times goes on to say, “Britain is growing increasingly tolerant of fraud and theft, a trend that will cost the benefits system an extra £2 billion a year”. Our Fraud Behaviours research also touches on individual attitudes – with our results showing a year-on-year increase in people committing first party fraud, or knowing someone who has done so, in the last 12 months. https://lnkd.in/eWRm8YTH #FirstPartyFraud #Fraud #FraudAwareness #FraudPrevention #FraudBehaviours23

The latest data from Cifas has highlighted a concerning amount of fraud in the telecom sector. In 2023, the National Fraud Database (NFD) recorded over 17,000 cases of facility takeover fraud, where criminals exploit compromised personal data to hijack existing accounts. https://lnkd.in/eWj7C_aq

We received this excellent testimonial from one of our learners about our Digital Fraud Practitioner programme. Certified by SFJ Awards, an independent national awarding body, the course will cover the main risk areas experienced by organisations, as well as highlighting key cyber fraud trends. Delivered in an interactive format and drawing on insightful case studies, it is ideal for anyone responsible for responding to digitally enabled fraud and associated threats in the modern digital economy.   To book onto the next course visit: https://lnkd.in/eHz76HeJ

“I take a visceral pleasure in tackling fraudsters before breakfast”. Delighted to have our Director of Public Policy profiled in the New Statesman. Helena Wood speaks about the importance of tackling fraud and her personal commitment to the issue, making important points about the need for policy reform: - legislate to ensure Big Tech and social media companies properly contribute to tackling the UK’s fraud problem, a large proportion of which emanates from their platforms. - The previous government committed to developing an Economic Crime Data Strategy. It good to see the willingness of the new government to continue with this work to properly harness the power of data and tackle economic criminals. You can read the full interview now at https://lnkd.in/eW5kbTHp #fraudpolicy #publicpolicy #fraudprevention #fraud #datasharing #government

It was great to return to the old Alma Mater as an Centre for Finance and Security (CFS) at RUSI Associate Fellow now speaking from my new vantage point at Cifas in a broad ranging discussion about the new Govt's response to economic crime. Data, data, data! The power of data sharing to transform our response to economic crime cannot be under-stated and I enjoyed finding fellow travellers during the post event drinks.

First party fraud is often seen as a ‘victimless’ crime, however, the truth is very different. Our Fraud Behaviours research delves into this in more detail. We found that 1 in 8 people had committed first party fraud, or knew someone who had, in 2023. We welcome the opportunity for greater cross-sector collaboration to tackle this growing threat. Here’s more of our research in The Telegraph. https://lnkd.in/eX-Y5SUm #FirstPartyFraud #Fraud #FraudAwareness #FraudPrevention