UK Government announces fraud review

At the end of October the Attorney General Lord Goldsmith QC said that the Government would conduct a wide ranging review of the scale and nature of fraud in the UK. It will examine prevalence and trends in fraud offences of all types, costs -both direct and indirect, which cover productivity and tax losses, additional charges to consumers, reputational damage and loss of public confidence – and the government’s current response to the problem. The review will consider if industry should play a larger role and bear more of the costs, through insurance or self-regulation. It will also examine fraud prevention options and best practice and how to benefit from lessons learnt through detection and investigation activities.