The UK’s technology trade association has called for improved collaboration between industry, government and law enforcement to combat escalating fraud levels.
A new report from techUK published today sets out its answer to a problem that successive governments have failed to tackle. Fraud now accounts for 40% of crime in the UK and an estimated 67% is cyber-enabled, according to the National Crime Agency (NCA).
Anti-Fraud Report 2025: Technology’s Role in the Fight Against Online Fraud claims fraud cost the global economy $1 trillion in 2024. It adds that, in the UK, only 1% of police officers are dedicated to combatting it.
The report sets out three key recommendations to drive a more coordinated and effective response:
- Build a connected anti-fraud ecosystem by establishing partnerships across law enforcement, banks, technology platforms, telecoms firms and regulators. This will be built on real-time intelligence sharing and enable coordinated interventions
- Accelerate adoption of advanced technologies such as AI, machine learning and privacy-enhancing tools to detect and disrupt fraud before cybercriminals can cause any harm
- Streamline victim reporting using a national “Tell Us Once” model, improve public awareness and make care standards for victims consistent across the UK
Government Readies its Plan
“Fraud is a threat for our economy, our security, and public trust. Tackling it demands collaboration, not competition, between government, industry, and law enforcement,” argued Antony Walker, deputy CEO of techUK.
“By uniting our efforts, investing in innovation, and strengthening law enforcement, the UK can lead the world in building a safer, more trusted digital economy. Our report sets up the collaborative steps we can – and should – take to ensure the UK can lead the fight against online fraud.”
However, the government is still in the process of finalizing its response to the fraud crisis. So far, the only concrete announcement in this area has been an identity verification scheme for company directors in the UK, designed to reduce money laundering and financial crime.
It is also considering a centralized fraud intelligence platform to enable real-time data exchange between sectors, as well as expanded international cooperation, increased resources for law enforcement and simpler public awareness campaigns. Its controversial plans for a digital ID system would also help.
A Home Office missive sent to Infosecurity earlier this year reveals that the government is planning to harness the power of emerging technologies to reduce crime and automate more processes, so police and prosecutors spend less time on paperwork.
UK Finance recently revealed a 3% increase in losses and a 17% surge in fraud cases in H1 2025. The banking association said consumers lost £629m ($839m) in the first half of the year on the back of 2.1 million cases.
Read more on fraud: Operation Chargeback Uncovers €300m Fraud Scheme in 193 Countries.