Context
The Government has published its new Fraud Strategy for 2026–29, setting out its latest plans to strengthen the UK’s approach to tackling fraud. The ABI has published its response to the new Strategy.
Key points to note and next actions
- The ABI states its belief that “fraud is the biggest crime in England and Wales”, with millions of people affected by it each year, often those in the most vulnerable circumstances.
- The ABI fully supports the Government’s drive for a united approach to crack down on fraud and welcome the Strategy’s focus on partnerships alongside continued investment in public awareness and victim support.
- The ABI acknowledges that the tech sector has made some progress, and the increased focus on this area will be crucial to help tackle the issue. With most fraud starting online, tech firms, social platforms and telecoms providers must now deliver on their commitments and contribute to prevention and detection, and the strengthened governance framework to monitor their performance is welcome.
- Insurers already invest heavily in fighting fraud and take this threat extremely seriously. The ABI will continue working closely with Government to implement the strategy and deliver on the Fraud Charter to strengthen the UK’s resilience.