Lord Vaux of Harrowden
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(1 year, 5 months ago)
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Lord Sharpe of Epsom (Con)
As I have already said, the National Audit Office report is going to inform the new fraud strategy. I reassure noble Lords that this is taken incredibly seriously. Alongside the fraud strategy that is due to be published shortly, we are providing more than £10 million to the City of London Police to upgrade Action Fraud, which has come under some criticism in the past. Next year, a new user-friendly and accessible reporting tool and website will be launched, offering an improved experience for victims and simpler pathways to access further support and guidance. Overall, £400 million is being allocated to economic crime, of which £100 million is being spent on the prevention of fraud.
Lord Vaux of Harrowden (CB)
My Lords, I have been privileged to be a member of your Lordships’ Fraud Act 2006 and Digital Fraud Committee which reported on Friday. I commend the report to the Minister and hope he has read it. One of the findings, which I think surprised all of us, is that it is not in fact the elderly who are most at risk from fraud but young people, who are also at risk of becoming money-laundering mules. Will the Government consider strengthening financial education for primary and secondary school children to equip them with the tools they need to stop being victims?
Lord Sharpe of Epsom (Con)
The noble Lord is quite right: in the year to March 2022 people aged over 75 were less likely to be a victim of fraud than those aged between 16 and 74. He makes an extremely good point and I will take it back to the Department for Education.