UK Fraud Strategy 2026–29 tightens sector obligations

The UK government is preparing a Fraud Strategy for 2026–2029 that will impose new obligations on banks, fintechs, telecommunications firms and online platforms. The strategy requires stronger intelligence-sharing, upgraded identity systems and tighter controls on instant payments to counter AI-driven impersonation and synthetic identity fraud.

A webinar on June 9 will outline early implications of the strategy ahead of the NextGen FinCrime conference in London on July 8. The webinar will include Robert Eastick, director and crypto lead at iSanctuary; Dr Roger Miles, consulting behavioral analyst; and Teresa Connors, contributing editor, who will moderate the session.

Government and industry sources say the strategy targets the gap between criminal innovation and defensive measures. Police and regulators aim to obtain faster, higher-quality intelligence across payment flows, digital identity systems, crypto markets and online environments so interventions can occur before large-scale harm happens. Officials identify real-time payment exploitation and synthetic identities as rapidly growing threats.

Speakers at the webinar will point to shortcomings in current data-sharing models. Data that could reveal organised campaigns is often fragmented across firms and sectors. Limited mechanisms for rapid exchange and operational gaps delay investigation and intervention, they say. The strategy will set expectations for standardised, near-real-time sharing and improved cross-organisation analytics.

The document addresses how identity systems must change to meet new threats. Fraud actors are using AI-generated identities, deepfakes and automated impersonation tools to bypass traditional checks. Financial firms are deploying predictive analytics, behavioral biometrics, tokenization and cloud-native fraud platforms to detect and respond. The strategy will require faster deployment of these technologies and stronger governance to ensure they meet privacy and compliance standards.

Instant payments are highlighted as a policy challenge because speed can conflict with anti-fraud and anti-money-laundering controls. The strategy will require firms that operate on instant rails to invest in real-time monitoring, upgraded controls and clearer accountability to secure payment channels while maintaining customer service and business activity.

Emerging risks in digital assets and decentralized finance, along with potential quantum-accelerated threats to cryptography, will be assessed against mainstream AML and fraud obligations. Officials expect cross-sector analysis to map where crypto and DeFi intersect with traditional financial crime so firms can adapt compliance frameworks.

Organisers say the June webinar and the July conference will bring together government, law enforcement and private-sector leaders to discuss practical steps for faster detection and stronger collaboration. The events will outline technical controls, governance options and intelligence-sharing protocols that the strategy will require firms to implement.