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Business News

'Laughable' new fraud initiative

Baroness Scotland, the Attorney General, will this week unveil the Government's grand plan to tackle fraud in the UK.

The initiative has been developed by the recently created National Fraud Strategic Authority to combat the £20bn worth of the crime that afflicts the UK each year.

A source close to the Attorney General's office said: "The National Fraud Strategy brings together for the first time more than 25 key private and public-sector organisations and will tackle key priorities designed to shift the balance of risk back on to fraudsters, while addressing the needs of victims."

But a source within the City of London Police said: "The Government has set up a talking shop that is totally toothless. They have no chance. We have only really seen the tip of the iceberg when it comes to fraud and the resources allocated to tackle the problem are simply woefully inadequate. This new strategy is a joke. It's laughable."