Britain is a ‘haven’ for fraudsters as less than 1 per cent of reported cases result in charges, a report has found.
MPs on the public accounts committee criticised the ‘slow progress’ on tackling the estimated 3.8million incidents of fraud and attempted frauds.
They said they were ‘deeply disappointed’ with the progress being made by the Government as fraud accounts for 41 per cent of all crimes committed in England and Wales.
‘Many of the same issues remain and there is still no sign that Government has a grip on fraud or an adequate strategy to address it,’ their report published on Friday said.
Estimates put the cost to individuals at £4.7billion, while it cannot quantify the potential price to businesses, and it is the victims who are ‘left to pay the price’.
Britain is a ‘haven’ for fraudsters as less than 1 per cent of reported cases result in charges, a report has found
The Home Office’s (pictured) approach was criticised as ‘sluggish’ as the UK’s ‘immature’ overseas criminal justice agencies fail to tackle international elements
The Home Office’s approach was criticised as ‘sluggish’ as the UK’s ‘immature’ overseas criminal justice agencies fail to tackle international elements.
Deterrence has also failed because less than 1 per cent of around 900,000 frauds reported in England and Wales each year results in an offender being charged or prosecuted, the report said.
The committee accused the Action Fraud hotline of failing victims and said it has earned the nickname ‘Inaction Fraud’.
‘The criminal justice system’s approach to penalising and sentencing fraudsters is insufficient to prevent the UK being seen as a haven for fraudsters,’ the MPs said.
Source: | This article originally belongs to Dailymail.co.uk
