Labour calls for national fraud strategy as annual losses hit £1.3bn

Labour will press the government for the first “national fraud strategy” in a decade as figures show fraud and financial scams affecting consumers and businesses hit a record £1.3bn of lost cash last year.

by | 7 Nov, 2022

The party will seek to force a vote on the financial services and markets bill with an amendment calling for a new fraud strategy, as households and businesses are losing more than ever.

Tabling an amendment to the bill, Tulip Siddiq, the shadow City minister, said ministers needed to get a grip on scams and fraud at a time when the cost of living was hurting people’s finances.

The government last brought forward a national fraud strategy in 2011, with nothing published in the meantime despite the explosion of online financial scams.

Read more at The Guardian

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