Question to the Home Office:

To ask the Secretary of State for the Home Department, what steps she is taking to support people running small and medium-sized enterprises impacted by banking fraud.

In May 2023, Government published the Fraud Strategy setting out the aim of cutting fraud by 10% by the end of this Parliament. The strategy outlines three key elements:

▪ Pursue fraudsters, disrupting their activities and bringing them to justice more often and quicker.

▪ Block frauds at source by dramatically reducing the number of fraud and scam communications that get through to the public and businesses.

▪ Empower people to recognise, avoid and report frauds and equip them to deal with frauds that do get through.

The Strategy outlines how we will raise public awareness and safeguard victims through improved reporting pathways, more accessible victim support, and the provision of clear and consistent protect advice. This will ensure that everyone receives the support they need to feel safe again and prevent re-victimisation.

In February 2024, Government will launch a new national anti-fraud behaviour change campaign, for individuals and businesses. The campaign will help people spot and take action to avoid fraud.

Fraud has reduced 13% compared to last year (Sept 2022) and has continued to decrease since the Fraud Strategy was launched in May 2023.