The Joint Fraud Taskforce was set up by the Home Secretary in February 2016.
The taskforce is a partnership between banks, law enforcement and government to deal with fraud and to focus on issues that have been considered too difficult for a single organisation to manage alone.
The taskforce will:
- protect the public and businesses from financial fraud
- reduce the effects of fraud on victims
- increase prosecution of fraudsters
The taskforce has 5 main areas of work led by representatives from the banks, police or Home Office. Each reports into the management board which meets around every 6 weeks.
The Joint Fraud Taskforce Management Board is chaired by the Home Office (Director Strategic Centre for Organised Crime) and made up of representatives from:
- the British Bankers’ Association
- City of London Police
- Financial Fraud Action UK
- National Crime Agency
- Victim Support
- individual banks
The Management Board sets the priorities for the Joint Fraud Taskforce to check the progress in each of the 5 areas of work and to help the teams meet their objectives.