Fraud and Economic Crime
1/12. What steps her Department is taking to tackle fraud and economic crime.
Fraud accounts for 39% of all crime, according to the England and Wales crime survey, and it was the most common type of crime in the year ending March 2024. It is a crime that destroys lives and we are committed to working with law enforcement and industry to better protect the public and businesses from the fraud threats they face.
We know that 39% of all reported crime is fraud, and many of those offences are carried out by serious organised crime gangs. The National Crime Agency is tasked with protecting my constituents from foreign origin fraud and serious organised crime, but a recent report from Spotlight on Corruption found that after 14 years of Conservative government the NCA was “on its knees”, spending millions of pounds on consultants and failing to retain investigators. What steps is the Minister taking to ensure that the NCA is able to protect my constituents from financial crime?
Let me take this opportunity to pay tribute to the NCA for its operational leadership and its focus on tackling economic crime. Through collaborating with jurisdictions at risk, we make it harder for organised crime groups to target UK victims. The national fraud squad, run by the NCA’s national economic crime centre, and the City of London police, with 400 new officers by next year, have boosted the ability to tackle the highest-harm international offenders. We are working to deliver a workforce strategy to address retention challenges for fraud. This is important work that impacts on all our constituents and it is a priority area for this Government.
The Minister will know that online harm goes beyond fraud. It can impact people’s lives through suicide sites that signpost people to unregulated sites that lead them to a place none of us want to see them go to. He will know that the European Commission is currently investigating Facebook and Instagram. The United States is introducing the kids online safety Act, which, if it is passed by Congress, will make a huge impact. Why is it left to parents in the United Kingdom—in England, Wales, Scotland and Northern Ireland, wherever they are—to take their own litigation against these big tech companies? Is it not time the Government did more?
We are doing more, and I can assure the right hon. Gentleman that this is a key priority for the Department, not least because 70% of fraud has an international element, particularly online. Approximately one in 18 adults were victims of fraud in the year ending March 2024. The noble Lord Hanson leads on this for the Department, and he and I are working closely with other Government Departments, including the Treasury and the Department for Science, Innovation and Technology. This is a priority and we need to do more.