The pensions sector is facing a looming digital pension fraud crisis that could see millions of pensioners scammed out of their retirement savings, according to a report from LexisNexis Risk Solutions and the Pensions Administration Standards Association (Pasa).

https://pensionsage.com/pa/Report-warns-of-looming-digital-pension-fraud-crisis.php

 Cabinet Office permanent secretary Alex Chisholm has told MPs a National Audit Office report suggesting that some officials are “reluctant” to pursue fraud and corruption cases because of reputational damage to their departments is at odds with his personal experience.

https://www.civilserviceworld.com/professions/article/chisholm-insists-officials-arent-reluctant-to-tackle-fraud-and-corruption

 A fraudster made more than £64,000 from the benefits system having claimed to be broke despite sitting on a six-figure bank balance.

https://www.brightonandhovenews.org/2023/05/12/benefit-fraudster-claimed-64k-despite-six-figure-bank-balance/

 Police-backed North West Fraud Forum asks businesses to collaborate in the fight against fraud, as new figures reveal increased losses in the region over the past year.

https://www.icaew.com/insights/viewpoints-on-the-news/2023/may-2023/businesses-urged-to-unite-as-fraud-cases-rise-25-in-a-year?utm_campaign=Members%20-%20ICAEW&utm_medium=email&utm_source=2548694_ICAEWDaily_News_16May2023&utm_content=1&dm_t=0%2C0%2C0%2C0%2C0

UK Finance today releases its Annual Fraud Report, detailing the amount of money reported by UK Finance members that was stolen by criminals through financial fraud in 2022.

https://www.ukfinance.org.uk/news-and-insight/press-release/over-ps12-billion-stolen-through-fraud-in-2022-nearly-80-cent-app

The November 2021 cyber-attack on the Simplify Group – the country’s largest conveyancing business – cost it £6.8m and also suppressed fee income, its annual report has shown.

https://www.legalfutures.co.uk/latest-news/cyber-attack-cost-conveyancing-giant-7m-plus-lost-business

 Tide, a UK financial business      platform with more than 500,000 SMEs, has urged the government to establish a new anti-fraud tax to fund and train more police officers to combat the rising fraud epidemic in Britain.

https://thefintechtimes.com/tide-urges-government-to-introduce-anti-fraud-tax-to-combat-rising-scams/

Cold calls which cheat people out of their money by tricking them into buying fake investments are to be banned under government plans to be announced next week.

https://uk.sports.yahoo.com/news/cold-calls-financial-deals-banned-054529849.html

WARRINGTON Borough Council's fraud team has closed hundreds of cases, resulting in saving the council more than £200,000.

https://uk.style.yahoo.com/fraud-team-warrington-borough-council-132347668.html

Fraud is a growing problem in the UK, with businesses of all sizes falling victim to various types of fraudulent activity, including cyber attacks.

The impact can be devastating, resulting in financial loss, reputational damage and even legal consequences.

https://www.thebusinessdesk.com/northwest/news/2113618-are-you-aware-of-the-risks-of-fraud-for-your-business