What is the UK Government’s Fraud Strategy 2026 – 2029 and what does it tell us?

On 9 March 2026, the UK Government published its Fraud Strategy 2026 to 2029 (the “Fraud Strategy”), which sets out how the UK Government will combat fraud against individuals and businesses over the period from 2026 to 2029.

We shall now examine the Fraud Strategy in more detail.

What is the Fraud Strategy?

In summary, the Fraud Strategy is aimed at individuals, businesses, industry partners, law enforcement, regulators and non-profit organisations.  It is also relevant for anyone involved in preventing, detecting or responding to fraud across the UK or the general public who are interested in fraud prevention.

Ultimately, the Fraud Strategy sets out the UK Government’s new approach to tackling fraud and explains how the UK will disrupt the methods used by criminals, strengthen protection for the public and businesses, and how victims of fraud are supported.

What are some of the interesting highlights of the Fraud Strategy?

The Home Office will work with INTERPOL and Europol to conduct joint operations and share intelligence.

The Home Office will support INTERPOL to establish a Global Fraud Taskforce (by 2029).

The Financial Conduct Authority (“FCA”) will regulate cryptoasset financial activities by requiring cryptoasset firms to obtain FCA authorisation and comply with its rules (from 2027).

The Government will mandate electronic invoicing for all VAT invoices (from 2029).

The Government will introduce judge-only trials for the most complex of fraud cases (by the end of this Parliament).

The Government is committed to monitoring disclosure so that it is fit for purpose in the digital age.

The Home Office will support law enforcement pilots of civil powers to pursue criminals and recover money for victims (by 2028).

The Home Office will consider introducing civil penalties for fraud and money laundering.

What does the Fraud Strategy tell us in more detail?

The Fraud Strategy is helpfully separated into three pillars, namely: Disrupt, Safeguard and Respond.

The Fraud Strategy notes that the National Security Strategy 2025 had identified fraud as the most common and one of the most corrosive threats facing individuals and business in the UK.  The form in which fraud can take place ranges from targeting bank accounts to impersonating trusted organisations, and the scale is huge – with over 4 million offences estimated in the year ending September 2025, and 1 in 14 adults being a victim of fraud in this period.

The impact of fraud on both individuals and businesses is also devastating, with victims suffering financial loss and emotional distress, as well as long-term consequences.

Finally, the growth of fraud cases in the UK is driven by the globalisation of organised crime and advances in criminal tactics.  This has been fuelled by digitalisation, and the abuse of technology has allowed criminals to develop and increase the scale, scope and speed of their illicit activities.  Specifically, cyber and online-enabled fraud is a growing transnational crime risk.

We shall now examine the three pillars in more detail:

Disrupt

The Fraud Strategy outlines the UK Government plans to disrupt fraud by:

Enhancing the UK disruption capability – The Home Office have launched various initiatives, including the Online Crime Centre, published a call for evidence to identify barriers to effective information-sharing and will continually support law enforcement with leveraging emerging technologies.

Tackling fraud at source – the Home Office will attend the Global Fraud Summit in Vienna (more information here), continue to pursue memorandums of understanding with high-priority countries, and increase the use of its sanctions to hold fraudsters operating overseas to account.

Preventing the abuse of the UK’s telecommunications infrastructures – The Government will launch a call for evidence on proportionality to reduce anonymity and strengthen accountability, begin to develop a secure digital tool to manage UK telephone numbers and create metrics for measuring the prevalence of fraudulent activity across telecommunications networks.

Preventing the abuse of the UK’s online infrastructure – OFCOM will introduce the Fraudulent Advertising Duty, the Government will continually monitor the effectiveness of regulation and enforcement, develop metrics for measuring the prevalence of fraudulent activity on online platforms and continue working with the tech sector to take action to improve the security of AI models.

Preventing the abuse of the UK’s financial flows – the FCA will share the best practice recommendations in relation to APP fraud and exploitative money laundering, HM Treasury will allow the FCA to incorporate key standards into its rules, the National Security Centre will continue to work with standard bodies to accelerate the adoption of passkeys, and the FCA will regulate cryptoasset financial activities by requiring cryptoasset firms to obtain FCA authorisation and comply with its rules (more information here).

Combatting fraudulent business practices – the Government will set up a new taskforce with the Insolvency Service to tackle abusive company phoenixism, mandate electronic invoicing for all VAT invoices (from 2029), and will consider having digital companies identified as a way to secure electronic identities and streamline the process of verification of transactions.

Safeguard

The Fraud Strategy outlines the UK Government plans to disrupt fraud by:

Building resilience – the Home Office will strengthen the ‘Stop! Think Fraud’ campaign, work with the private sector to develop impartial and comprehensive consumer advice, and continue to support the regional Cyber Resilience Centres.

Reducing vulnerability – law enforcement will deliver proactive, intelligence-led PROTECT activities in local areas, the Home Office will support the alignment of the Fraud and Cyber Project, launch a Financial Safeguarding Scheme, and the Home Office will fund the National Trading Standards scams team to support a multi-agency approach to fraud.

Combatting financial exploitation – the FCA will conduct the analysis of ‘cashing-out’ and work with the industry to tackle money laundering, the Home Office will work alongside the City of London Police to strengthen national coordination of fraud prevention activity.

Respond

The Fraud Strategy outlines that the UK Government plans to respond by:

Improving victims’ experiences – the Government will work with the City of London Police to embed and operate the new Fraud Report service, the Home Office will introduce a Fraud Victim Charter and explore opportunities to further support fraud victims to identify repair.

Enhancing law enforcement investigative capabilities – the Home Office will work with OFCOM to develop a national telecommunications traceback scheme, the Government will support law enforcement to develop AI-powered tools that assist in the recovery of the proceeds of crime (including from fraud), the Home Office will review and improve how fraud offences and outcomes are recorded in the Home Office Counting Rules.

International law enforcement collaboration – the Home Office will work with INTERPOL and Europol to conduct joint operations and share intelligence, and the Home Office will support INTERPOL to establish a Global Fraud Taskforce.

Delivering justice through criminal and civil outcomes – the Government will consider proposals from the Independent Review of Fraud, introduce judge-only trials for the most complex of fraud cases, and commit to modernising disclosure so that it is fit for purpose in a digital age; the Home Office will support law enforcement pilots of civil powers to pursue criminals and recover money for victims and will consider introducing civil penalties for fraud and money laundering.

Gherson have many years of experience in assisting with all aspects of fraud and financial crime. If you would like to speak to us in respect of any of the issues raised in this blog or about your specific circumstances, do not hesitate to contact us for advice, send us an e-mail, or alternatively, follow us on X, Facebook, or LinkedIn to stay-up-to-date.

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice.  Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position.  Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog.  For formal advice on the current law please do not hesitate to contact Gherson.  Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.

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