UK hosts world leaders for first Global Fraud Summit

International ministers are set to agree new action to take down fraudsters as the first ever Global Fraud Summit begins today. Representatives from the G7, Five Eyes, Singapore and South Korea are attending. 

Home secretary James Cleverly will host and discuss the threats posed by organised crime groups, as well as explore how global law enforcement can tackle it throughout a series of meetings.

He said: "This summit delivers on yet another pledge we made to the British people in our Fraud Strategy and is a clear sign of the UK’s status as a world leader.

"Fraudsters have no regard for boundaries, they devastate citizens in all our countries. We will only put a stop to this scourge if we fight it head on together, and that’s precisely what we plan to do."

Industry collaboration to prevent fraud will be a key focus. The meetings will also explore how closer partnerships with the private sector can be used to counter criminality and reimburse victims of crime.

The need for a bolstered law enforcement response is clear, with a forthcoming INTERPOL threat assessment expected to show a concerning rise in fraud in all corners of the globe.

Graeme Biggar, director general of the National Crime Agency, said that over 70 per cent of fraud has an international element, and it is clear that we need an efficient and effective joint response with partners across the globe.

Security Minister Tom Tugendhat said that "Con artists and thieves are a threat to hard-working families across the country."