UK NATIONAL FRAUD INITIATIVE DATA MATCHES STOPPED GBP442 MILLION’S WORTH OF FRAUD AND ERROR SINCE 2020
January 22nd, 2023
The UK’s National Fraud Initiative (NFI) has helped prevent, detect or recover some GBP442.6 million (USD548.58 million) fraud and error through data matching UK-wide in the period April 5, 2020, to March 31, 2022, according to the latest report (1). This brings the total fraud and error losses saved since its creation in 1996 to GBP2.4 billion (USD2.97 billion). Of the GBP416.8 million (USD516.6 million) in fraud and error detected in England alone (from 2020 to 2022), the NFI prevented or recovered GBP391.4 million (USD485.14 million) or 94%. (2) An estimated ...
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