The Wales Fraud Forum aims to help prevent fraud in Wales by raising awareness in the public and private sector and among individuals. Its conference, held at the University of South Wales, attracted influential people involved in counter-fraud strategies from across the UK.
In addition to her position on the Fraud Advisory Panel, Frances chairs a working group within R3 under the Economic Crime Prevention Group which is promoting the use of insolvency in tackling fraud. She used her speech to draw attention to two counter-fraud initiatives – the Fraud Advisory Panel’s Civil Justice Initiative and R3’s Insolvency Fraud Pilot.
Fraud in the UK is currently estimated to cost £765 for every adult in the UK, according to the Fraud Advisory Panel. The impact of fraud is not simply in higher prices and taxes, but in reduced business and consumer confidence.