Morning, Thursday, 5th September 2024
Online
This conference is bringing stakeholders and policymakers together to examine next steps for tackling fraud and financial crime in the UK.
It will be an opportunity to consider priorities for the new parliament, the way forward for measures in the Fraud Strategy and legislation such as the Economic Crime and Corporate Transparency Act, alongside recommendations on consumer protection outlined in the FCA review into Anti-fraud controls and complaint handling in firms.
Stakeholders and policymakers will look at the effectiveness of new legislative tools, challenges for implementation, and whether measures go far enough to protect the public from fraud.
They will also examine the prevalence of fraud, emerging threats and the way forward for prevention measures, including opportunities for collaboration between policymakers and technology companies to stop platforms being exploited.
Delegates will assess approaches for strengthening business strategies for the detection and prevention of fraud, in light of concerns from the FCA’s review findings over the strength of systems, and with the FCA currently conducting a new Review of firms' treatment of customers in vulnerable circumstances, due to be published by the end of 2024.
Sessions in the agenda also include discussion on improving the effectiveness of the current system for reporting, investigating and prosecuting fraud, and the response of the criminal justice system including sentencing.
It will also be an opportunity to assess the response to new emerging types of fraud, looking at challenges in strategic coordination of data collection and intelligence-sharing between the public and private sectors, as well as with international partners.
Further sessions will consider the role of banking, tech, telecoms and other key sectors in countering fraud and supporting customers, with a focus on the balance between robust anti-fraud mechanisms and vulnerable consumer protection.
There will be discussion on key issues for consumer advocates and banks, including what classes as ‘vulnerability’, and data collection practices following concerns from banks and members of the House of Lords over clauses in the Data Protection and Digital Information Bill at the end of the last parliament which would have allowed government to ask banks for details of benefit claimants.
We are pleased to be able to include keynote sessions with: Jemima Murray, Deputy Director, Fraud Policy, Home Office; and Dr Jonathan Fisher KC, Senior Fellow, London School of Economics; and Barrister, Red Lion Chambers.
Overall, areas for discussion include:
- tackling fraud: tools and frameworks - gaps in existing strategies - challenges in implementing new legislation, including resourcing - strengthening police and prosecution service response
- new legislation: effectiveness in deterring and preventing financial crime - the requirement for companies to review their procedures
- collaboration:
- improving data collection - public-private partnerships and international cooperation - moving towards digital identity frameworks - the role of technology companies
- progress in increasing coordination between the government, law enforcement and the private sector to combat fraud - implementation of the Online Fraud Charter
- addressing emerging types of fraud: effective disruption mechanisms, including AI and fully utilising data-sharing
- accountability: banking, tech, telecoms and other key sector responsibilities - regulatory frameworks for effective fraud prevention measures
- protecting the public: counter-fraud education and improving awareness - mitigating customer vulnerability - the National Campaign Against Fraud - reporting processes and victim support
