We welcome the publication of the Government’s fraud strategy, which is a critical step in addressing the serious criminal problem that fraud poses in this country. The banking and finance industry is at the forefront of tackling fraud, including spending billions to detect and prevent fraud and refunding people who have fallen victim.

“The strategy rightly says we need to focus on stopping fraud at source. The only way that will happen is if other sectors take far greater action as criminals clearly exploit vulnerabilities outside the banking sector to commit fraud.

“The appointment of Anthony Browne MP as a new anti-fraud champion is an important development and we look forward to working with him as well as the Government and law enforcement to help protect people and businesses across the UK.