Source · Select Committees · Public Accounts Committee
Recommendation 15
15
The Department explained that it considers its existing £1.5 billion estimate of potential annual fraud...
Conclusion
The Department explained that it considers its existing £1.5 billion estimate of potential annual fraud loss to be an “academic construct” as it is based on benchmarking drawn from external organisations.33 It acknowledged that developing a more robust estimate is critical so that it can understand the totality of its fraud losses and where it needs to direct its activities.34