Fraud Strategy 2026-29

I beg to move, That this House has considered the potential merits of increasing fraud protections and the Fraud Strategy 2026 to 2029. It is a pleasure to lead this debate with you in the Chair, Mrs Harris, and I thank the Minister for being here. Fraud has been spreading like the plague for years, infecting almost every aspect of daily life: online, on the phone, at work or out and about. People do not know who or what to trust. Fraud costs the UK economy more than £1 billion a year, yet sentencing is well below its 2010 level. In 2025, British consumers lost £1.2 billion to fraud—a four-year high. What does that rise mean? My constituent’s small business in Ilton was scammed out of more than £3,000-worth of orders through a credit card scam, wiping out their business. Another constituent’s elderly mother had debts run up by an estranged relative, who used her details to the extent that bailiffs came round. Another constituent was tricked into investing hundreds of thousands of pounds into a building company that then shut down. Lots of constituents have been defrauded out of thousands of pounds by tradespeople for half-done work or work that never actually happened.

I congratulate the hon. Gentleman on securing this important debate. My constituents have similar concerns about the impact of fraud, especially on vulnerable people. I have spoken to the noble Lord Hanson, who has been developing the strategy, to outline those concerns. Does the hon. Gentleman agree that the direction in the new UK fraud strategy, the expansion of the “Stop! Think Fraud” campaign and the promotion of proactive policing are good things that should be welcomed?

They are good things and I will come on to them later, but we do need more support for vulnerable adults and young people—something I will also come on to.

We need to get a balance. I spoke to the hon. Gentleman beforehand, and we must be incredibly careful not to let the state overreach in the process. Does he agree that a law-abiding citizen should be able to walk into their local bank and spend, withdraw or transfer their own hard-earned money without being treated like a criminal suspect? We must ensure that the fraud strategy does not become a nanny-state charter that forces ordinary people to prove to a bank clerk why they want to spend their own money.

I agree with some of what the hon. Gentleman said, and I will come on to talk about why banks should have more face-to-face contact with people instead of sending them online. It is even simple, little things. One constituent was scammed into paying a clean air zone charge, which does not exist, because it popped up on a sponsored page on Google. Another agreed to send Amazon vouchers to their elderly mother, but they actually sent them to a scammer. In April, in response to this problem, the Government came forward with the 2026 to 2029 fraud strategy. They have committed £250 million to the plan over the next three years. There is a lot to welcome in the strategy, particularly the establishment of the fraud victims charter and the new Report Fraud scheme to replace Action Fraud, which was totally useless.