Plans for a new government information campaign to tackle the explosion in online fraud have sparked divisions among major banks over concerns about its cost and potentially conflicting public messages.

https://uk.news.yahoo.com/government-fraud-campaign-plan-sparks-133600274.html/

The head of the UK’s Serious Fraud Office (SFO) has said he is ready to put the agency’s new powers to use to help investigate and prosecute fraudsters.

The prosecutors new investigative powers, which come into force today, allow the agency to collect information and evidence before an investigation is opened.

https://www.cityam.com/sfo-chief-were-ready-to-use-our-new-powers-to-clamp-down-on-fraud/

UK consumers lost £75mn to financial scams on social media in one year alone, with a total of 3,597 reports to the police about investment fraud.

According to a Freedom of Information request submitted to the National Fraud Intelligence Bureau by comparison site Good Money Guide, Instagram was mentioned in more than half of cases, followed by Facebook with 1,193 reports.

https://www.ftadviser.com/your-industry/2024/01/11/savers-lose-75mn-a-year-to-financial-scams-on-social-media/

Over the past year, we have seen numerous stories of employees sabotaging their employer.

Whether it's a finance professional embezzling money, or a retail worker stealing hundreds of thousands of pounds worth of products, the cost-of-living crisis has caused a surge in these types of incidences - posing a new type of internal threat for employers.

https://www.hrgrapevine.com/content/article/2024-01-11-fraud-likely-to-rise-in-2024-how-can-you-prevent-it

Romance fraud happens when you think you’ve met the perfect partner online, but they are using a fake profile to form a relationship with you.

The fraudster gains your trust over a number of weeks or months and has you believe you are in a loving and caring relationship. However, the criminal’s end goal is only ever to get your money or personal information.

https://crimestoppers-uk.org/news-campaigns/news/2024/jan/five-ways-to-spot-the-signs-of-romance-fraud

Sir Keir Starmer is set to unveil plans to “restore standards in public life with a total crackdown on cronyism”.

The Labour leader will reveal his blueprint on Thursday that could see people who defraud the government face going to jail for more than 10 years.

https://www.heraldscotland.com/news/24024710.labour-table-tougher-punishment-defrauding-government/

Doctors could be earning almost £1 billion from “ghost patients” after a fraud investigation into how many people were registered with GPs was halted.

There were almost six million more patients registered to a GP in England last year than the total population size of the country.

https://uk.news.yahoo.com/gp-surgeries-could-earning-almost-070000805.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

Convicted crooks were told to pay back more than £2.5 million last year after West Midlands Police pursued their 'dirty money'.

Criminals involved in offences such as drug dealing and fraud can accrue significant sums of money from their illegal activities.

https://www.expressandstar.com/news/crime/2024/01/01/criminals-told-to-repay-25-million-of-ill-gotten-gains-after-police-pursue-dirty-money/

A benefits cheat who faked the identities of almost 200 children to pocket public money has been ordered to repay more than £2million.

Ali Bana Mohamed, 42, has three months to return the cash or face a nine-year prison sentence, the Department for Work and Pensions said.

https://www.msn.com/en-gb/money/other/benefits-fraudster-who-faked-the-identities-of-200-children-to-pocket-public-money-is-ordered-to-pay-back-2-million/ar-AA1mdw2L?ocid=socialshare

Shoppers are being warned to remain vigilant when shopping this festive period as over two-thirds (62%) of scam victims over 65 have fallen to a purchase scam, research from Feedzai, the financial crime and risk management solution, has found.

The research surveyed over 500 fraud victims over 65 in the UK to uncover the most common scam types, the ways fraudsters operated to trick their targets and the impact it had. Purchase scams significantly trump investment scams (15%) and romance scams (4%) revealing the severity of how prevalent these scams are.

https://ifamagazine.com/scammers-are-out-for-elder-adults/