At present, firms can often be hesitant to pass information along because they are concerned about legal exposure or compliance penalties. To mitigate this, Government needs to establish clear statutory protections and unambiguous safe harbor rules. Giving businesses this kind of legal certainty ensures they can exchange critical threat intelligence quickly and responsibly, without worrying about incurring legal or regulatory liabilities.

This is not  solely a problem within our own borders; modern criminal networks are highly organised, operate cross border, and operate at a pace that leaves current frameworks far behind. The UK has a prime opportunity to spearhead global alignment. By championing international interoperability and cross-border safe harbors, jurisdictions can share data in near real-time, allowing authorities to actively disrupt transnational crime syndicates before criminals are able to move funds beyond the sight or reach of law enforcement.

Domestically, the government should strip away the complex system of current information-sharing rules. The goal should be a streamlined setup built on unified data standards, access and structured real-time feeds. In our paper ‘A Technology Strategy to Smash Fraud, we advocate for the creating of a National Anti Fraud Centre for cross-sector data sharing - which could provide a blueprint for the new Online Crime Centre. To make this happen without compromising privacy, Government, crime agencies and industry must make use of advanced privacy-enhancing technologies that allow secure, targeted data transfers across the network.

Alongside this we need a shift in the liability model. Roughly 77% of authorised push payment (APP) fraud begins online, with platforms like Meta accounting for a significant majority. Social media and telecom firms  must share the financial burden of victim reimbursement, which currently falls entirely on banks and payments firms. We need  legislation to introduce clear fraud reporting frameworks, dispute resolution tracks, and a dedicated fraud origination redress fund paid into by tech and telecom platforms.

This is an opportunity to build a world beating anti-fraud technology sector: This presents an opportunity for the UK to develop and export new anti-fraud RegTech solutions. The global fraud detection and prevention market, valued at USD 52.82 billion in 2024, is projected to reach USD 246.16 billion by 2032. In particular, there is an opening to take a new approach to data sharing, technology and technology platforms to create a technology and AI-based anti-fraud strategy which has data sharing at its core and enables the industrialisation of our fight to spot, stop and smash fraud in Britain.