Public Sector Fraud Authority saves taxpayers £300 million-plus in Year One

The £311 million figure is made up of a variety of projects led by the Public Sector Fraud Authority that help public sector organisations prevent, identify and recover public money lost to fraud, including the use of advanced Artificial Intelligence and data analytics through partnerships with leading private sector businesses, among them the tech unicorn Quantexa.

The National Fraud Initiative is an exercise that works with more than 1,000 public bodies to compare sets of data against other records in order to identify discrepancies that may be evidence of fraud.

Further, counter fraud flags refers to instances when the Government shares intelligence with lenders to help them recover stolen money.

Prime Minister Rishi Sunak announced the creation of the Public Sector Fraud Authority in March last year while serving as Chancellor of the Exchequer. Following intensive joint working between the Cabinet Office and His Majesty’s Treasury, the Public Sector Fraud Authority launched just five months later in August.

Savings realised

Baroness Neville-Rolfe revealed just how much the Public Sector Fraud Authority had saved during its first year at the aforementioned meeting of the International Public Sector Fraud Forum, which was hosted by the UK Government in central London. The figure will be officially published in the Public Sector Fraud Authority’s first Annual Report.

The International Public Sector Fraud Forum was first convened by the UK Government in 2018. It aims to share Best Practice to help combat public sector fraud in the Five Eyes nations (Australia, Canada, New Zealand, the United States and the UK).

The UK Government has hosted an in-person meeting of the International Public Sector Fraud Forum four times now. The latest gathering marked the occasion of the first meeting since the pandemic and was attended by delegates from Government agencies and law enforcement across the Five Eyes nations.

Approximately 70 delegates, made up of international experts and domestic counter fraud professionals from across the public sector, attended a keynote address by Baroness Neville-Rolfe at the Imperial War Museum.

Big win for taxpayers

Baroness Neville-Rolfe stated: “The £311 million saving is a big win for taxpayers. It shows the Public Sector Fraud Authority is delivering on its mission to transform the way in which we fight fraud. Every pound stolen by fraudsters is one pound less spent on schools, hospitals and other vital public services.”

Baroness Neville-Rolfe continued: “It was fitting to reveal the achievement at a meeting of the International Public Sector Fraud Forum. The Five Eyes nations have a proud history of working together to tackle big challenges and fraud is no exception. Led by the UK Government and the Public Sector Fraud Authority, our allies are setting the gold standard in the field of counter fraud.”

Mark Cheeseman OBE, CEO of the Public Sector Fraud Authority, concluded: The Public Sector Fraud Authority was created to take action on fraud. The results in our first year show our commitment to that task. The close relationships we enjoy with our international partners have been integral to this. Together, we can exert a far bigger impact on those who attack our public services for their own gain.”