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Consumer advocacy group Which? has called on the next UK government to appoint a dedicated fraud minister, in a sign of how much the issue has gone up the policy agenda.
Fraud has increasingly grabbed the attention of the UK's political class and regulators.
It constitutes around 40 percent of crimes in England and Wales, with losses surpassing £1bn last year, equivalent to £2,300 stolen every minute, according to UK Finance.
This is why Which? has now called for the upcoming government to include a dedicated minister with a fraud portfolio, as part of its aim to ensure fraud nationally is a priority.
“The fraud epidemic continues to ruin people’s lives every year, yet progress with tackling it is too slow due to a lack of leadership and coordination across government and business sectors,” said Rocio de Concha, policy and advocacy director at the influential consumer body.
De Concha added that the next government needs to show it will make tackling this crime a national priority by appointing a fraud minister to bring sectors together and drive forward real change at pace. “This will benefit UK citizens, businesses and growth.”
Which? is not the first to have called for this action to be taken. Parliamentarians on the Home Affairs Select Committee have also endorsed the idea of economic crime, including fraud, being managed through a dedicated ministerial portfolio.
Last month, Cifas, the non-profit association dedicated to the prevention of fraud, also advocated for a dedicated white-collar crime minister.
Helena Wood, Cifas’ director of policy, welcomed Which?’s announcement in a statement on LinkedIn.
“We believe that this is an essential starting point in driving proper cross-government leadership on this issue,” said Wood. “Ensuring someone has direct authority from the Prime Minister to push forward the next generation of economic crime reforms would mean that the fight against fraud would no longer be everybody’s problem and nobody’s priority.”
Companies’ responsibility
Which? also targets big tech and argues that Ofcom, the UK’s communications regulator, must hold technology giants accountable to prevent fraudulent activities from reaching consumers and swiftly remove any that do slip through.
Furthermore, Which? has emphasised the need for banks and payment providers to ensure fair treatment of victims and promptly reimburse them.
Separately, earlier this week, the consumer group also urged the Payment Systems Regulator (PSR) to maintain its current October 7 implementation date for fraud reimbursement, despite calls from the UK’s Payment Association to delay these compliance changes by 12 months.
"If the PSR and ministers in the next government are serious about protecting consumers from fraud, they will see this request for what it is, a desperate attempt from a small section of the banking industry to shirk responsibility, and must press ahead with the current schedule,” De Concha said in a press statement.
