UK hosts world leaders for first Global Fraud Summit in London

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"£3 billion is lost overseas to fraud each year. As the fraud gets more sophisticated, so must our response" - Home Secretary James Cleverly. Photo credit: UK Gov, CC BY-NC-ND 2.0 DEED

The first Global Fraud Summit begins in London today with ministers from the G7, Five Eyes, Singapore and South Korea attending.

The Summit is bringing together international ministers, senior law enforcement officials, and representatives from major companies to tackle the growing threat of fraud.

British Home Secretary James Cleverly will be leading discussions on combating organised crime and strengthening global law enforcement cooperation.

Home Secretary James Cleverly said:

This summit delivers on yet another pledge we made to the British people in our Fraud Strategy and is a clear sign of the UK’s status as a world leader.

Fraudsters have no regard for boundaries, they devastate citizens in all our countries. We will only put a stop to this scourge if we fight it head on together, and that’s precisely what we plan to do.

The summit aims to address the rise in fraud globally, with a focus on enhancing partnerships between governments and the private sector to counter criminal activities and support victims of fraud.

Key areas of discussion include leveraging technology, sharing intelligence, and coordinating efforts to dismantle criminal networks.

Fraud poses a significant challenge to countries worldwide, with a large percentage of offenses having international links. The summit will provide an opportunity for collaborative action to disrupt fraudulent activities and protect communities.

Participants from various countries, including G7, Five Eyes, Singapore, and South Korea, are attending the summit to share insights and develop strategies for combating fraud. The event underscores the importance of international cooperation in addressing complex transnational threats.

In 2022, UK law enforcement agencies worked with international partners, including the FBI, and Europol, to take down an online service known as iSpoof. The website was used to make more than 10 million fraudulent phone calls. Its administrator was jailed for more than 13 years. 

The UK, United States and Canada also issued a joint sanctions package against human rights abusers who were forcing trafficked people to work at scam farms in Cambodia, Laos and Myanmar, in December 2023. 

Graeme Biggar, Director General of the National Crime Agency, said:

Over 70% of fraud has an international element, and it is clear that we need an efficient and effective joint response with partners across the globe.

The Global Fraud Summit is an important step forward, bringing together colleagues from the public and private sectors to tackle this persistent and pervasive threat.

It is a priority for the National Crime Agency to reduce the harm that fraud causes, and it is events like this that will help us make an impact at scale.

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