ABSTRACT
This chapter identifies the anti-fraud measures adopted in the United Kingdom (UK). It considers the strategic goals of the National Fraud Strategy and attempts to quantify the extent of the problem. The chapter also considers background to the policy of criminalizing and regulating fraud, plus an evaluation of the financial institutions and regulatory bodies. It looks at how the proceeds of fraudulent activity are recovered, including a brief analysis of sentencing options and practices. Fraud, however, is another financial crime of epic proportions and as noted by Wright is becoming the crime of choice for organized crime and terrorist funding. In addition to the Serious Fraud Office (SFO), a secondary agency that tackles fraud is the Financial Services Authority (FSA). The most recent agency created to tackle fraud is the NFA. The UK's fraud policy has gathered pace following the publication of the Fraud Review, the introduction of the Fraud Act 2006 and the creation of the NFA.
