2023 Publications

The European Financial and Economic Crime Threat Assessment looks closely at current and emerging threats relating to financial and economic crime. Using insights and case examples from Europol’s dedicated crime centre, this report analyses the threats posed by money laundering, criminal finances and corruption, and how they have evolved as a result of technological and geopolitical changes. The report also examines the role of these crimes in the broader picture of international serious and organised crime, where criminal networks use financial and economic crime as a tool to obscure, and ultimately benefit from, profits made by illegal activities.

https://www.europol.europa.eu/cms/sites/default/files/documents/The%20Other%20Side%20of%20the%20Coin%20-%20Analysis%20of%20Financial%20and%20Economic%20Crime%20(EN).pdf

Since the beginning of the COVID-19 pandemic, the level of fraud against the taxpayer has increased fourfold. In 2020–21 alone, there were losses of between £33.2 billion and £58 billion to fraud and error unrelated to the ongoing pandemic. In the latest Transparency International survey of public and business perceptions of corruption, the UK fell from 8th out of 180 countries in 2017 to 18th in 2022 for the perceived level of corruption. Perceptions of fraud and corruption in the UK are reversable, but the government must begin by demonstrating that it is serious about tackling these issues and regaining public trust. Senior officials across government must demonstrate leadership, set the tone from the top, build in preventative approaches to their operations and start to give the public the impression that they are serious about fighting fraud. The government can only start to tackle fraud properly when it is open about the scale of the challenge and where the problems lie.

https://committees.parliament.uk/publications/41288/documents/202816/default/

The National Crime Agency (NCA) has published revised guidance on how to submit better quality suspicious activity reports (SARs). The guidance includes instructions on online reporting via the NCA portal, guidance on how to structure a SAR, specialist guidance on defence against money laundering (DAML), and some useful good practice tips and examples. It is unlikely the guidance will provide many surprises for experienced MLROs. However, its publication perhaps indicates that the NCA has concerns about the quality and detail provided in some SARs, and the guidance will be useful in helping to get a swift response from the NCA.

https://www.nationalcrimeagency.gov.uk/who-we-are/publications/650-guidance-on-submitting-better-quality-suspicious-activity-reports-sars-v9-0/file

The Public Sector Fraud Authority has published its Standard for the Counter Bribery and Corruption Professional which contains the agreed professional standards and guidance for countering fraud and corruption in central government. The Standard is part of the wider government counter fraud standards and guidance, which cover all the core disciplines and sub disciplines in the Government Counter Fraud Framework. The counter fraud professional standards and guidance are designed to present a consistent cross government approach to countering fraud; raise the capability of individuals and, through this, increase the quality of organisations' counter fraud work.

The aim is to:

1. To describe the knowledge skills and experience (professional standards and competencies) needed for an individual to achieve practitioner level in counter fraud work in their desired discipline. The document provides direction to competency frameworks which outline how someone can progress to this standard.

1. To provide guidance to those using the standards on the processes and products they will use to deliver the discipline and what they should seek to put in place in the organisation to deliver the discipline effectively.

The "Organisation Guidance" can also be used to consider what should be in place in an organisation to be using this sub discipline effectively. The extent to which central government bodies use this standard will vary and depend on their assessment of the risk of bribery and corruption in their field and their investment in counter bribery and corruption activities.

These standards form the basis of the bribery and corruption sub discipline that is being established within government. To be acknowledged as a counter fraud professional these standards will have to be met. Guidance is being developed and will be made available on Civil Service Learning Counter Fraud pages regarding how to be recognised as a member of the Government Counter Fraud Profession.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1157904/Counter_Bribery_and_Corruption_Professional_Standard__final_.pdf

Fraud poses a significant threat to the people, prosperity, and security of the UK. It is by far the most common crime and now accounts for over 40% of all offences in England and Wales. This strategy will tackle fraudsters head on and cut fraud by 10%, protecting the British people’s hard-earned cash from criminals and putting more fraudsters behind bars. Industry, government, law enforcement and regulators must continue to work together to make it as difficult as possible for fraudsters to operate. Companies are in a unique position to protect their customers from fraud.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1154660/Fraud_Strategy_2023.pdf

The total value of reported alleged fraud cases £100k or above heard in UK courts increased by 151% from £444.7m in 2021 to £1.12bn in 2022, according to data released in KPMG UK’s latest Fraud Barometer. The figure for 2022 is similar to pre-pandemic values which saw a total value of £1.1bn for alleged fraud cases heard in 2019. Figures from KPMG UK’s Fraud Barometer, found despite the increase in total value of reported fraud cases heard in 2022, the volume of cases fell by 27%. A total of 219 alleged fraud cases reached the courts in 2022, compared to 298 in 2021.

https://assets.kpmg.com/content/dam/kpmg/uk/pdf/2023/02/fraud-barometer-2023.pdf

The three-year Plan sets out the UK’s strategy and commitments for tackling economic crime (including money laundering, fraud, kleptocracy and sanctions evasion) while protecting national security and supporting long-term competitiveness and economic growth. The Plan highlights the eyewatering extent of the problem: every year an estimated £100 billion in criminal proceeds are laundered through the UK, with fraud costing the UK an estimated £136 billion, and illicit crypto asset transactions linked to the UK in 2021 of at least £1.24 billion.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1147515/6.8300_HO_Economic_Crime_Plan_2_v6_Web.pdf

This report sets out the recent trends from NAO audits and reports, reviews how well-placed government is to understand and tackle fraud and corruption across government and sets out insights from our work and engagement with experts on what more government can do to better prevent fraud and corruption. This report focuses on fraud and corruption against government and therefore the taxpayer. Fraud is an act of deception carried out for personal gain or to cause a loss to another party. It may be committed internally by staff or externally by suppliers, contractors or members of the public. For the purpose of this report, corruption, which includes bribery, is the abuse of a public or private office for financial gain or the avoidance of personal loss. Both can lead to the loss of taxpayer money (such as benefit or tax fraud) or an inefficient allocation of resources (such as falsely claiming a loan even if intending to pay it back).

https://www.nao.org.uk/reports/tackling-fraud-and-corruption-against-government/

This strategic approach outlines GCFP’s focus for 2023-25. Following the launch of the new Public Sector Fraud Authority (PSFA) in August 2022, the Government Counter Fraud Profession (GCFP) is now within the Practice, Standards and Capability Function of the Authority, operated by the 17 public sector organisations who collectively make up the Profession Oversight Board. When launched a key principle was for the PSFA to be expert led. The PSFA has capability and expertise at the heart of it. The continued development of GCFP will drive this, providing expertise to those working in the PSFA but beyond this across the Counter Fraud Function in HM Government (HMG).

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1139843/government-counter-fraud-profession-strategy_2023-25.pdf

The House of Commons published Fraud and the Justice System: Government Response to the Committee's Fourth Report of Session 2022–23, providing the government's written responses to 18 separate recommendations of the Justice Select Committee. It is somewhat non-committal and vague in areas debated for some time, including the possibility of reform to corporate criminal liability, the private/public partnership and disclosure in fraud cases.

Open publication