The new government body ‘Public Sector Fraud Authority’
The Public Sector Fraud Authority has been launched by the government – The government has launched its new Public Sector Fraud Authority – Jacob Rees-Mogg, Government Efficiency Minister, has launched a new body of the Government named the ‘Public Sector Fraud Authority’. With an aim to halt fraud expensed by the public purse, the team will consist of counter fraud and data ‘experts’, with a first-year target of saving the taxpayer £180,000,000. New Red Planet and other FCSA Accredited partners feel that this is definitely a move in the right direction to stamp out non-compliance in the sector.
The team, looking into the Bounce Back Loan scheme, has been equipped with £25 million of funding, with Rees-Mogg stating: “They (fraudulent attacks) are an attack on the emergency services whose funding they deplete, similarly they steal money from infrastructure projects”.
Mini umbrella companies are also in the vision of Rees-Mogg and his band of fraud busters, as they clamp down on the too-good-to-be-true umbrella schemes, which leave contractors extremely exploited, vulnerable and defenceless against tax bills.
The creation of the Public Sector Fraud Authority represents a landmark in our fight against public sector fraud. We know that fraudsters are a committed, capable and evolving adversary.
Consequences of being caught by the PSFA
To respond to this we must raise our ambition and challenge ourselves to increase our impact on this often unseen and underestimated crime. The PSFA will support public servants across government and public bodies to take
that step – to innovate and modernise our approach to fraud.
The recent success of the National Fraud Initiative (NFI), which between 2020 and 2022, detected and prevented more than £200m of public sector pension fraud, paved the way for the new team to be established.
Read the full Gov.uk article here
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