Ted Datta, Senior Director at Moody’s Head of Financial Crime Compliance Industry Practice, Europe, Africa, and Americas, discusses the rise of fraud in the UK and what companies and the government can do to turn the tide

As the landscape of financial crime continues to shift, the UK finds itself at the forefront of the battle against fraud. Recent data reveals that fraud now accounts for 38% of all crime in England and Wales, with the nation losing an estimated £2.46bn to this criminal activity in the 2021/22 financial year alone.