The government has announced the launch of a new 'fraud squad' to crack down on criminal gangs involved in stealing taxpayer money.
The £25 million central government taskforce, based in the Cabinet Office, will be made up of analytics experts and crime investigators and is set to be operational by the summer.
The experts are being recruited to help recover money stolen from Covid support schemes and “spot suspicious companies and people seeking government contracts”.
Mandatory inspections on Whitehall programmes will also be carried out by counter fraud experts to unearth any vulnerabilities.
“We will chase down fraudsters who rip off the taxpayer,” said chancellor Rishi Sunak. “This elite fraud squad, backed by £25 million, will ensure the latest counter fraud techniques are being used to track down these criminals.
“People are rightly furious that fraudsters took advantage of our vital Covid support schemes, and we are acting to make sure they pay the price.”
Latest News
New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.
The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.
Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories