On 14 July 2026, the Government published Part 2 of Jonathan Fisher KC's Independent Review of Disclosure and Fraud Offences, Fraud in the Digital Age.

The report paints a stark picture of modern fraud: a high-volume, technology-enabled, cross-border crime that remains too often a low-risk, high-reward activity for offenders. While it concludes that the core legal framework—including the Fraud Act 2006 and conspiracy to defraud remains broadly fit for purpose, it argues that the wider system for detecting, investigating, prosecuting, and preventing fraud is fragmented, under-resourced and struggling to keep pace.

What makes this review particularly significant is its emphasis on moving from a reactive enforcement model to a whole-system prevention strategy.

Key recommendations include:

Greater corporate and platform accountability

• A new failure-to-prevent fraud offence for regulated user-to-user services

• An anti-fraud levy on digital and communications infrastructure providers

• Stronger duties on platforms whose systems are exploited for scam advertising and fraud

Improved data sharing

• Statutory foundations for public-private intelligence sharing

• Clearer guidance on lawful information sharing

• Enhanced powers and reforms to support investigations and disruption

Tackling fraud enablers

• Measures targeting identity abuse, money mules, and fraud-enabling products

• Stronger powers for the Insolvency Service

• Expanded use of AI and advanced technology by law enforcement

International cooperation

• UK leadership on fraud through international agreements

• Targeted sanctions and visa restrictions for overseas fraud organisers

• Fraud cooperation provisions within trade agreements

Stronger justice outcomes

• Enhanced judicial training and modernised court processes

• Increased maximum sentences for serious fraud and money laundering

• Greater focus on victim participation, compensation, and restorative justice

Perhaps most notably, the review recognises that fraud prevention cannot sit solely with law enforcement. It requires coordinated action across government, regulators, technology providers, financial institutions, and businesses.

For compliance, legal, risk and fraud professionals, the report signals a continued shift towards shared responsibility, proactive prevention, and stronger organisational accountability.

The challenge now is not whether fraud is a national priority—it is whether the recommended reforms can be delivered at the pace and scale needed to match the rapidly evolving threat landscape.

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Little Book of Fraud - latest edition from NWROCU

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Fraud Strategy 2026-2029: Disrupting crime, supporting economic resilience and delivering justice

Fraud remains the most reported crime in England and Wales, impacting millions of people and businesses each year. Its growing scale and sophistication threaten public trust, national security, and economic resilience.

The Government’s new Strategy highlights the need for faster, smarter action. As criminals exploit new technologies and operate across borders, we must match their innovation. Tackling fraud requires strong collaboration across Government, law enforcement, industry, and civil society.

This isn’t just about reducing crime — it’s about restoring confidence, protecting victims, and strengthening the UK’s economy. Together, we can make the UK a safer place to live, work, and do business, and send a clear message: fraudsters have nowhere to hide.

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The strategy contains a total of 123 commitments seeking to tackle corruption domestically and internationally, including:

• Creating and expanding a new Domestic Corruption Unit with £15 million of funding in the City of London Police.

• Using artificial intelligence to accelerate investigations.

• Consolidating the anti-money laundering and counter-terrorist financing supervisory functions of the UK's 22 professional services supervisory bodies.

• An increased pursuit of professional enablers, including bankers, accountants, and legal professionals.

• An Ethics and Integrity Commission to strengthen probity in public life.

There is little apparent fresh thinking; most of the commitments have been previously stated and begin with the vague terms review, expand, consider, and explore. However, the strategy does provide some funding commitments. Annual funding for economic crime enforcement will increase to £235 million.

The anti-corruption strategy is the first of three government strategies to be published. The fraud strategy is scheduled for publication in January 2026, and the anti-money laundering and asset recovery strategy will follow later in the year.

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 5th Edition of the Little Book of Big Scams bringing further awareness of some of the ever-evolving ways criminals use to scam the public out of their hard earned money.

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The Serious Fraud Office (SFO) has published its Annual Report for 2024-25 outlining the SFO's performance, strategic objectives, and financial activities over the year. The report highlights the SFO's commitment to combating serious financial crime while maintaining transparency and accountability in its operations.

In 2024-25, the SFO implemented a new five-year strategy focusing on enhancing its workforce, technological capabilities, and international co-operation. The SFO opened eight new investigations, conducted four major operations, and charged 11 individuals in significant cases, including those involving Glencore and Axiom Ince. It also secured over £1.3 million in proceeds of crime and issued its first Unexplained Wealth Order.

The SFO made advances in technology, completing a pilot of Technology Assisted Review to improve document disclosure and procuring a new case management system. These advancements aim to enhance the efficiency and effectiveness of investigations.

Looking ahead, the SFO plans to continue its strategic initiatives, focusing on workforce development, technological innovation, and international collaboration. They will also conduct a mid-point review of its five-year strategy to adapt to any changes in its operating environment.

With a budget of nearly £100 million it might be considered disappointing there have been no DPA's since 2023 and very few prosecutions. It may well be the case this report will provide further fuel to those who believe a substantial overhaul of the SFO is required, including consideration being given to bringing it under the wing of the National Crime Agency.

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Our latest Fraud report, in partnership with BioCatch, continues to show some progress as well as challenges in the fight again fraud, but the net effect was over £1.1 billion of losses in 2024.

Our latest figures show that Authorised Push Payment (APP) fraud, where victims are manipulated by criminals into sending them money, has fallen, both the total amount lost and the overall number of cases.

However, the data also shows that other types of fraud, notably remote purchase fraud, have increased. This demonstrates that criminals change tactics and, closing one vulnerability in isolation only leads them adapting and exploiting others.

Our report provides a full breakdown of cases and losses across all unauthorised and authorised fraud categories

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We know that fraudsters are often innovative in how they attack our organisations. There are many ways in which fraud is committed, and they are always changing - adapting to be increasingly successful. As always when dealing with fraud, we should think about our task in two parts - both taking action on fraud to reduce its impact, but also gaining an ever deeper understanding of the problem. The best innovations come from careful, forensic scrutiny of the problem it is seeking to solve, what is driving the problem and what the root causes are.

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Fraud continues to pose a major threat to the UK and cause serious harm to individuals and society. In the first half of 2024 just over £570 million was stolen in payment fraud as criminals continue to ruthlessly target people and try to deceive them into making payments or providing enough information to enable their accounts to be accessed or controlled.

UK Finance’s mid-year fraud update for 2024 shows the total number of cases rose by 16 per cent in the first half of this year compared with the same period last year, but with a 1.5 per cent fall in the value of losses across both authorised and unauthorised fraud. This provides a continuing reminder of the ongoing threat from fraudsters and the harm they pose to consumers.

In the first six months of 2024 the data shows diverging trends in unauthorised and authorised payment fraud. The main contributor to the overall increase in fraud cases is unauthorised fraud, primarily through cards, which saw a 19 per cent increase in cases and a seven per cent increase in losses compared with the same period last year. This takes H1 losses for unauthorised card fraud to the highest level since 2020, and 2024 H1 cases were the highest since the first six months of 2018.

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A groundbreaking report by Perpetuity Research and the Centre for Cybercrime and Economic Crime at the University of Portsmouth has uncovered a critical oversight in the fight against economic crime. Despite soaring levels of these offences, police forces are not fully utilising the vast resources and expertise available in the private and not-for-profit sectors. Even with significant underreporting, the volume of offences has placed a strain on police resources and this has served to undermine the ability of law enforcement to respond effectively. Meanwhile, parts of the private and not-for profit sectors dedicate significant resources to combatting economic crime. Banks and insurance companies for example, employ thousands of staff in antifraud roles. This expertise is largely invisible to the police, representing a massive, wasted opportunity.

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