UK Fraud Strategy 2026–29: Banks Must Share Earlier Intelligence

The UK government will publish a Fraud Strategy for 2026–2029 that requires banks, fintechs, telecommunications firms and online platforms to share earlier intelligence, strengthen identity systems against synthetic IDs and deepfakes, and introduce new controls on instant payments to limit fast, cross‑channel criminal activity.

A webinar on June 9 will outline early implications for industry ahead of the NextGen FinCrime conference in London on July 8. Regulators and law enforcement want faster, more coordinated information flows between private firms and public agencies so interventions can take place at an earlier stage.

Under the strategy, firms will be expected to provide earlier, more actionable signals about suspicious activity instead of relying on reports produced after losses occur. Signals to be linked include payment flows, digital identity checks, crypto market movements and online behavior so emerging patterns can be detected before large losses accumulate.

The government intends to press firms to adopt more real‑time tools. Recommended technologies include predictive analytics, behavioral biometrics, device and session signals, tokenization and cloud‑native fraud platforms. The approach favors layered, continuous authentication over one‑time checks that criminals can bypass with synthetic identities or impersonation tools.

Current data‑sharing arrangements are fragmented by differing technical standards, privacy rules, commercial concerns and slow manual processes. The strategy will propose clearer standards for interoperability, faster mechanisms for safe data exchange and incentives for private firms to contribute timely intelligence.

Identity systems are a primary focus. The strategy encourages multi‑factor and multi‑modality checks, cryptographic tokens to support persistent identity claims, continuous behavioral verification and stronger real‑time proofing at account opening. Firms will need to design checks that reduce fraud risk while limiting customer friction that could affect access to services or legitimate use of instant payments.

Securing instant payments is another area of emphasis. The plan calls for enhanced real‑time monitoring of payment rails, accelerated sanctions and fraud screening, and governance frameworks that assign responsibilities for risk management across originators, intermediaries and platforms. Regulators and industry will be asked to agree on standards for loss allocation, dispute handling and technical controls.

The strategy also addresses risks from digital assets, decentralized finance and future cryptographic threats. Faster, pseudonymous transfers in crypto markets create challenges for anti‑money‑laundering obligations and reduce the time available for intervention. Firms are advised to map exposures to DeFi protocols, develop crypto tracing and forensic capabilities, engage with regulators on standardized reporting and plan for cryptographic agility against potential quantum threats.

Speakers at the June 9 webinar include Robert Eastick, director and crypto lead at iSanctuary; Dr Roger Miles, consulting behavioral analyst; Zaheer Jassat, vice president of product at Zepz; and Teresa Connors as moderator. The webinar will preview issues for discussion at NextGen FinCrime on July 8 in London.

The strategy sets clear expectations for faster intelligence‑sharing, stronger identity defences and tighter payment controls across banking, fintech, telecom and platform sectors.