Ted Datta, senior director, Moody’s head of financial crime compliance industry practice, Europe, Africa, and Americas argues that tackling fraud requires a data-driven approach from government.

Fraud currently accounts for around 38 percent of total crime in England and Wales, and it cost the UK £2.46 billion in FY 21/22. Instances of Fraud have continued to grow in recent years, representing a huge proportion of criminal activity that is costing the UK economy dearly.

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