UK Launches New Fraud Reporting Center to Combat Growing Crime
Britain's new national reporting center for fraud and financially motivated cybercrime, Report Fraud, is set to launch. Aiming to restore public trust in law enforcement's approach to fraud, the most common crime in the country, it replaces Action Fraud.
The new service, operational since November 2022, uses Palantir's Foundry platform to analyze and compare evidence, a departure from its predecessor. Unlike Action Fraud, Report Fraud collects evidence for police investigations, enabling faster and more efficient processing of reports.
With incidents of fraud growing by 31% in the year ending March 2023, and over 80% going unreported, the need for an effective reporting system is clear. Report Fraud aims to address this, with a public-facing portal that has faced delays due to caution against launching an imperfect news service. The portal, integrated with partner organizations like the Whistleblowing Central Function (WBCF), will coordinate with relevant departments and stakeholders for remediation and follow-up actions.
The new system seeks to tackle estimated annual costs to the economy of billions of pounds and hundreds of victims losing their life savings. It will deliver targeted and timely advice to disrupt criminal activities, helping UK police forces better prepare for evolving threats.
Report Fraud, with its advanced capabilities and integrated approach, is set to revolutionize the way fraud and cybercrime are reported and investigated in the UK. Despite a significant investment of over £212 million ($283 million) by 2030, the new system promises to save the economy billions and protect countless victims.
Read also:
- Web3 gaming platform, Pixelverse, debuts on Base and Farcaster networks
- Cannabis-Focused CTV Channel Citizen Green Launches for Global Streamers
- Goodyear in 2025: Advancement in Total Mobility through the Launch of Kmax Gen-3 by Goodyear
- Boston Metal pioneers route to commercial production for eco-friendly steel method
