International Financial Fraud
Lord Woodley Excerpts(2 days, 11 hours ago)
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Baroness Anderson of Stoke-on-Trent (Lab)
I occasionally agree with the noble Baroness, and in this instance, I find that I do. One of the issues here, though, is the wider cost of fraud to UK plc: it is currently £14 billion a year. While I appreciate the concern about the impact on individual companies, the reality is that there were 6 million attempted frauds in the UK last year, 80% of them were online and 70% had an international dimension. I appreciate the concern, and there is a reason we have been very targeted in the economic crime levy about who is paying for it, but there is a genuine issue here that is undermining us in every corner of the economy.
Lord Woodley (Lab)
My Lords, I raised this last week, talking about the billions of pounds in fraud. Can the Minister kindly tell me when they are going to recover the millions of pounds of fraud from the noble Baroness, Lady Mone?
Baroness Anderson of Stoke-on-Trent (Lab)
My noble friend will be aware that there are current, ongoing legal cases, so I cannot comment on an individual case.