Fraud is the most commonly experienced crime in this country. A person is more likely to be a victim of fraud than any other crime and it costs victims billions in losses, yet it is under-resourced, under-prioritised, and its impact is widely under-estimated. If this were any other type of crime, we would deal with it swiftly and the perpetrators would be brought to justice. Because most fraud happens online, it remains invisible and fraudsters walk away without fear of repercussions. The Government must act. Creating a Cabinet sub-committee would send a message to criminals that it takes fraud seriously. Law enforcement must prioritise fraud and we must slow down payments to give banks more time to analyse suspicious transactions.

Open publication