UK Government’s New Anti Fraud Strategy

The UK government’s newly launched Fraud Strategy 2026-2029 is a major change in the national respond to fraud. The implications for businesses and advisers are wide-ranging.

Fraud now accounts for almost half of all crime in England & Wales, costing an estimate £14.4 billion annually. The Government’s strategy is a decisive shift toward proactive prevention.

The UK government has nominated three core pillars to uphold its strategy: disrupt, safeguard and respond. Taken together, they aim to deny criminals access to the technologies and methods used to commit fraud, strengthen organisational resilience, and improve outcomes for victims.

Speaking to the Institute of Chartered Accountants in England and Wales, Spencer West Partner Nabeel Osman says the most meaningful change lies in where responsibility is being placed.

“The strategy signals a shift from fraud enforcement to prevention, placing greater reliance on those at key financial control points.”

This raises expectations on organisations – and those advising them – to take a more active role in identifying and mitigating fraud risk before harm occurs.

Nabeel also highlights that this evolving landscape demands more than formal compliance.

“This raises expectations on accountants to apply heightened scrutiny, particularly in client due diligence and interrogating the commercial rationale of transactions.”

The implication is a move away from a purely procedural approach and towards professional scepticism that is documented, defensible and embedded within everyday decision‑making.

Read the full article: What the government’s new fraud strategies mean for business