International agreement secured in determined bid to combat fraud

The document, released on Day One of the world’s first Global Fraud Summit (which ran at Lancaster House in central London), sets out a four-point framework to combat fraud on a collective basis. Under this framework, signatories have pledged to enhance law enforcement co-operation, improve victim support and bolster intelligence sharing.

Those nations involved have also set out a clear requirement for collaboration with the private sector to prevent fraud.

“We’ve been clear that the global community needs to unite to fight fraud head-on,” observed the Home Secretary. “This communiqué is a massive step forward.  The UK and our friends attending the Global Fraud Summit possess the finest law enforcement agencies in the world. We have already reduced fraud by 13% in England and Wales. New action from the international community will improve the numbers still further.”

Security minister Tom Tugendhat added: “Fraud is a cruel crime that wrecks lives around the world. This communiqué will strengthen and step up international joint working to fight fraud, in turn helping to highlight the fact that our Fraud Strategy continues to deliver.”

Devastating impact

The communiqué recognises the impact of fraud is devastating and universal across the world, even if specific crime types may vary in different regions. It paves the way for closer working practices between international law enforcement agencies.

Fraud is a global problem, with around 70% of all offences in the UK having ties to overseas criminals. Circa £3 billion was lost to overseas accounts last year alone. Reversing this trend is not possible without a united global community.

Interpol’s latest report shows fraud is often perpetrated by organised criminal groups, including human traffickers, who force people to work in scam centres, which then target potential victims of fraud across the world. 

Intelligence sharing between law enforcement agencies will now be ramped up, with operational resources also enhanced. This will help to ensure a comprehensive threat picture is maintained, and also that action is taken against criminals operating across borders.

Nations will also be exploring ways in which to improve the repatriation of fraudulently acquired funds from bank accounts across jurisdictions and recover illicitly gained assets.

The use of all diplomatic levers, including sanctions and visa bans, to disrupt organised crime groups, will be further explored.

Interpol Secretary General Jürgen Stock said: “Changes in technology and the rapid increase in the scale and volume of organised crime have driven the creation of a range of new ways in which to defraud innocent people, the business community and even Governments. Urgent action is required. It is vitally important that there are no safe havens in which financial fraudsters can operate. We must close existing gaps and ensure information sharing between sectors and across borders is the norm, not the exception. The Global Fraud Summit is both timely and necessary.”

Operational arrangement

Separate to the communiqué, a new operational arrangement between the UK and the US has been confirmed by the Home Secretary. The agreement centres on a new way of working between the National Crime Agency, the FBI, United States Secret Service and Homeland Security Investigations to specifically tackle call centre-focused fraud.

The communiqué also outlines the necessity of preventing fraud. Global citizens are spending an increasing amount of time online, which has provided fraudsters with an opportunity to target victims through digital platforms. Around 80% of fraud experienced in the UK is estimated to be cyber-enabled.

That being so, nations have made it clear that industry – including social media companies and online messaging platforms – is expected to take further action to prevent fraud. There needs to be an increased effort to identify and remove fraudulent posts.

The UK has led the way in this approach, with the launch of the Online Fraud Charter back in November 2023. The Online Fraud Charter sees leading tech companies committing to a series of preventative fraud measures (including requiring dating sites to allow their users to opt to interact with verified people only, verifying new advertisers and swifter takedowns of fraudulent posts).  

The inaugural Global Fraud Summit played host to a series of working-level meetings between government officials, the private sector, law enforcement and civil society organisations.

Efficient and effective

Graeme Biggar, director general of the National Crime Agency, noted: “Over 70% of fraud has an international element. It is plainly evident that we need an efficient and effective joint response involving partners across the globe. The Global Fraud Summit is an important step forward, bringing together colleagues from the public and private sectors to tackle this persistent and pervasive threat. At the National Crime Agency, we are always looking to reduce the harm that fraud causes. Events such as this one will help us make an impact at scale.”

Temporary Commissioner Peter O’Doherty from the City of London Police observed: Fraud is a global threat and demands a global response from senior leaders from around the world, including law enforcement agencies and industry partners, working together to effectively tackle the ever-growing threat to all our populations. As the national lead force for fraud in the UK, we work in partnership with international law enforcement agencies to pursue those who seek to defraud the public. Fraudsters don’t recognise international boundaries and neither should we. The Global Fraud Summit summit is an important opportunity to further build our overseas partnerships.”