The Government has published its Fraud Strategy 2026 – 2029 (the “Strategy”), setting out a three‑year plan to disrupt fraud, strengthen protections for individuals and businesses, and deliver a more coherent national response to the most common crime in England and Wales.
Edmonds Marshall McMahon welcomes the Strategy as an important step toward restoring public confidence and supporting the Government’s wider commitments on crime reduction and economic stability.
The scale of the problem
Fraud is the most widely reported crime in the UK, costing the economy £14.4 billion in 2023–24. It affects individuals, businesses and charities, but the impact stretches far beyond the immediate financial loss to victims. Fraud stifles economic growth, suppresses consumer confidence, and poses threats to national security.
Despite a temporary decline in reported cases between September 2019 and 2023, fraud is rising once again. The statistics are stark: one in four medium‑to‑large businesses experienced fraud in 2024, and one in fourteen adults fell victim to fraud in 2025.
Fraud continues to evolve. According to the NCA, the most harmful types include courier fraud, investment fraud, payment‑diversion fraud and romance fraud, while phishing remains the most prevalent cyber‑attack method. The UK’s deep reliance on online platforms, regular data breaches, the availability of “fraud kits” on the dark web, and increasingly sophisticated AI‑enabled tools such as deepfakes and voice cloning all fuel an environment in which criminals can target victims at unprecedented scale.
The consequences for victims can be devastating. In the year ending March 2024, 74% of fraud incidents resulted in actual financial loss, of which 3% involved losses of £10,000 or more. Victims regularly face emotional distress and long‑term psychological harm, and businesses may suffer lasting revenue loss and reputational damage. This erosion of trust can make individuals and businesses more risk‑averse, dampening economic activity.
Yet prosecutions have fallen by 56% since 2015, underscoring the need for systemic change.
High points of the Fraud Strategy
1. Increased investment
Over £250 million of additional funding between 2026 and 2029.
2. Strengthened public–private collaboration
- Launch of a new Online Crime Centre in April 2026, with £31 million committed to improving intelligence‑sharing between law enforcement, national security agencies and private‑sector partners in telecoms, finance, technology and cyber.
- Sector‑specific interventions, including Calls for Evidence in 2026 on:
- proportionate measures to reduce anonymity in the UK communications sector; and
- drivers of unauthorised push‑payment (APP) fraud.
- Development of a secure digital tool to manage UK telephone numbers.
3. Improving the reporting system
Further improvements to Report Fraud (introduced in December 2025 to replace the discredited Action Fraud system), with a focus on better technology, faster referrals, and enhanced victim support.
4. Supporting victims
Introduction of a Fraud Victims Charter in 2027, establishing minimum national standards for response times, reimbursement guidance, prevention, recovery and access to support services.
5. Strengthening civil and criminal justice
- Introducing judge‑only trials for the most complex fraud cases by the end of this Parliament to improve capacity and reduce delays.
- Consideration of Jonathan Fisher KC’s recommendations to tackle barriers to prosecution and modernise the legislative framework.
- Responsible use of AI to modernise disclosure processes. This is a critical step given that fraud cases take almost eight times longer than the average case to reach charge.
- Exploration of civil penalties for fraud and for facilitating money laundering as an alternative or complement to criminal proceedings.
6. Additional commitments
- Sponsoring the Global Fraud Summit.
- Expanding the Stop! Think Fraud public‑awareness campaign.
- Increasing proactive policing as part of the national PROTECT response.
Food for thought
A renewed seriousness, but delivery will be key
It is encouraging to see the Government treating fraud as a national priority and backing this commitment with significant investment and structural reform. The Fraud Strategy recognises that fraud is not only a criminal threat but a barrier to economic resilience and public trust. Like the UK Anti-Corruption Strategy 2025, it offers a promising set of tangible commitments, but it remains to be seen whether these commitments will lead to improved outcomes for victims.
Information sharing and technology are rightly central
Fraudsters innovate rapidly. Historically, the UK has not. Measures that improve data‑sharing between law enforcement, regulators, the intelligence community and industry offer the greatest potential impact. EMM strongly supports initiatives that promote responsible data‑sharing, the use of AI to streamline investigations, and closer and more effective collaboration between law enforcement and the private sector.
Report Fraud must prove itself
Action Fraud’s flaws are well known. Report Fraud represents an opportunity to rebuild trust in the reporting process, but it must meet expectations. Faster referrals, improved transparency, better victim support, and a genuine willingness to investigate reports of fraud as serious criminal offences will determine its success.
Justice system reforms could be transformative
Judge‑only trials, disclosure reform and civil penalties all have potential to speed up cases and increase accountability, which are objectives that must be urgently met. These changes must be matched with adequate resources. Without this, the Strategy risks ambition without practical effect.
Success depends on cultural change as well as structural reform
Fraud prevention cannot sit with law enforcement alone. A whole‑system approach requires sustained cooperation across sectors and a shift in how organisations view and manage fraud risk. The Fraud Strategy rightly focuses on global cultural shifts in the way fraud is disrupted and responded to.
