Welcome to the latest GovNet Fraud newsletter - our monthly compilation of the latest news, events, and articles covering public sector fraud.
This month we re-visit a live panel discussion on fraud prevention, take a look at how the private sector are reducing financial fraud and explore two case studies of how technology can be leveraged to combat fraud.
Regulators and the private sector in partnership to fight financial crime
In Q1 2023 Moody’s Grid database confirmed 34,818 fraud alerts, 12,536 money laundering alerts, and 3,115 terrorist financing alerts. They take a look at examples of how public and private sectors in the Netherlands are collaborating on data sharing to bring these figures down.
Prevention: The Key to a Successful Counter Fraud Function
Live from our NHS Fraud conference our panel offer insightful tips on ways to effectively measure the financial and non-financial impacts of counter fraud controls; plus practical ideas on how practitioners can work collaboratively with policy leads to integrate counter fraud measures into policy from the planning stage.
In June 2013, SEROCU started investigating an organised crime group who were believed to be trafficking drugs. Surveillance revealed one of the group was also engaged in a significant money laundering operation involving over 200 bank accounts in 80 different names. This case study reveals how they managed to reduce months of manual data entry to just 2 weeks.
A Citizen-Centric Framework for Combating Fraud Using Artificial Intelligence
As counter fraud professionals we focus a lot on recovery and detection. However, equal attention needs to be paid on supporting those impacted by fraud. As we shape our defence against fraud, keeping citizens at the centre of our strategy is key.
Please keep sharing the great work you and your team are doing - by spreading the word and learning from one another we're helping to combat public sector fraud.
Kind regards,
The GovNet Fraud Team
Company Number: 03307092 (England and Wales), Registered Office: 25 Eccleston Yards,, Eccleston Place,, London,, London, SW1W 9NF, United Kingdom
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