Taskforce recovers £400m from fraud probes

More than £400m of taxpayers’ money has been saved as the government clamps down on tax and benefits fraud

The latest figures from the National Fraud Initiative (NFI) showed that more than £400m was recovered in 2020-22, up from £250m in 2018-20, bringing total counter fraud savings to £2.4bn since the organisation was set up in 1996.

However, the figure represents a tiny percentage of total public sector fraud and error, which was estimated to be at least £33bn a year according to a 2022 report by the Public Sector Fraud Authority.

Pension fraud and overpayments made up the majority of fraud identified, representing £250m of the £400m fraud between 5 April 2020 to 31 March 2022, up from £55m over the two-year period from 2018 to 2020.

In addition, the government has provided an extra £359m in funding to tackle tax and benefit fraud, as it continues to track fraudsters and recover public money.

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe