Source · Select Committees · Treasury Committee
Recommendation 22
22
Acknowledged
Paragraph: 124
The FCA’s work to prevent fraud is done in partnership with other bodies such as...
Conclusion
The FCA’s work to prevent fraud is done in partnership with other bodies such as the National Crime Agency and Serious Fraud Office. But the police have limited resources and personnel devoted to tackling fraud, and the FCA currently does not have the full powers of a law enforcement body.
Government response summary AI-generated
The government acknowledges the seriousness of fraud and is developing an ambitious Fraud Action Plan through the Home Office, which will consider potential legislative or regulatory changes after the 2021 Spending Review.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
124
Government Response
Acknowledged
HM Government · verbatim extract
Acknowledged
The Government takes fraud very seriously. The Treasury continues to work closely across Government, and with industry, regulators and law enforcement, to close down the vulnerabilities that fraudsters exploit and ensure members of the public have the information they need to spot a scam and stand up to fraudsters. As part of the Government’s ongoing work to tackle fraud the Home Office is developing an ambitious Fraud Action Plan, which will be published after the 2021 Spending Review. The plan will consider any potential legislative or regulatory change required to ensure we can effectively tackle fraudulent activity in the round.
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