Government urged to establish a National Anti-Fraud Centre, according to Innovate Finance.
Innovate Finance, the leading membership organisation for global fintech, has announced a new anti-fraud strategy aimed at reducing fraud in the UK by half by 2028. The strategy, spearheaded by Janine Hirt, CEO of Innovate Finance, calls for a more collaborative, targeted, and effective approach to combat fraud.
Central to the strategy is the proposal for a National Anti-Fraud Centre (NAFC). This centre is envisioned as a unifying force, bringing together insights, intelligence, and expertise from across industries for effective threat detection and disruption. The centre's establishment is proposed in a way that does not add pressure to the public purse.
The strategy's primary objective is to build a "world-beating" UK anti-fraud tech industry, creating jobs and growth, and exporting solutions. To achieve this, Innovate Finance has suggested amendments to the Online Safety Act 2023, including the introduction of a reporting framework, the setup of a fraud origination redress fund, the creation of a distribution mechanism, and the establishment of a dispute resolution process.
The strategy also emphasises the need for stronger collaboration between industry and law enforcement through technology and data sharing. The proposed NAFC aims to enable real-time cross-sector data sharing, addressing the current issue of data-sharing initiatives operating in silos.
Luke Charters, MP for York Outer, supports a coordinated, cross-sector response to counter fraud, including expertise from financial institutions, regulatory bodies, law enforcement, and policymakers. He believes that a national anti-fraud centre, such as the proposed NAFC, is the appropriate vehicle to deliver the scale necessary to crush organised fraud.
Despite the proposal, the current status of the UK's National Anti-Fraud Centre, as outlined in Innovate Finance's anti-fraud strategy, is not explicitly detailed in the latest publicly available reports or government updates from mid-2025. While the UK government continues to focus on whole-system economic crime measures, there is no specific confirmation that such a centre has been formally established or has launched operations.
Innovate Finance's plan also includes calls for new shared liability rules for Big Tech social media and telecommunications firms. However, the strategy does not mention any explicit connection to the global fintech investment decline in 2024 amid 'economic turbulence'.
[1] National Risk Assessment on Money Laundering and Terrorist Financing (2025) [2] Economic Crime Plan 2023–26 [4] Canadian Anti-Fraud Centre (https://www.antifraudcentre-centreantifraude.ca/)
- Innovate Finance, with Janine Hirt as CEO, has unveiled a new anti-fraud strategy to reduce UK fraud by half by 2028, emphasizing collaboration and an effective approach.
- Central to this strategy is the proposal for a National Anti-Fraud Centre (NAFC), aiming to unify insights, intelligence, and expertise for threat detection and disruption, with minimum strain on the public purse.
- The UK anti-fraud tech industry's primary objective is to create jobs, growth, and export solutions, achieved through amendments to the Online Safety Act 2023, including a reporting framework, redress fund, distribution mechanism, and dispute resolution process.
- A strong collaboration between industry and law enforcement is essential, as proposed by the NAFC for real-time cross-sector data sharing, addressing current siloed initiatives.
- Luke Charters, MP for York Outer, supports this coordinated cross-sector response, including expertise from financial institutions, regulatory bodies, law enforcement, and policymakers, deeming a national anti-fraud centre as necessary to combat organized fraud.
- Despite the proposal, the current standing of the UK's National Anti-Fraud Centre, as per Innovate Finance's anti-fraud strategy, is not explicitly clarified in the latest publicly available reports or government updates from mid-2025.
- Innovate Finance's strategy includes calls for new shared liability rules for Big Tech social media and telecommunications firms, but does not directly link to the 2024 global fintech investment decline amid 'economic turbulence'.
