The economic impact of fraud is substantial, with an estimated £23bn lost annually to procurement fraud and irregularities in the UK public sector alone.

Today’s fraudsters operate with industrial efficiency, employing teams of engineers, data analysts and managers using sophisticated AI techniques. Public awareness of the scale of fraud and the urgent need to address it continues to grow, with Companies House records frequently exploited to facilitate illicit money flows.

To spread awareness and help combat fraud, ICAEW is sponsoring this year’s Fraud Advisory Panel (FAP) Annual Conference, which is partnering with the Female Fraud Forum. The event will be hosted at Chartered Accountants’ Hall in London on 23 April 2025.

The conference will do a deep dive into evolving threats, including:

• The role of AI and tech in combating fraud;
• ESG initiatives and addressing fraud in environmental contexts;
• Legislative developments; and
• The role of integrity and ethics in fraud prevention.

Malcolm Bacchus, ICAEW’s president, who will be representing ICAEW at the event, says: “Fraud hurts everybody and damages trust in society. Trust and the public interest have always been at the forefront of what ICAEW does and we are proud to be the sponsor of this event and to have supported the FAP for nearly 25 years.”

Matt Field, Head of the Fraud Advisory Panel, adds: “We are fortunate to have some of the industry’s leading counter-fraud professionals among our membership. They recognise the importance of knowledge sharing across the community and more widely, serving the public interest by equipping people with the skills to recognise and fight fraud. We are delighted to be hosting this year’s conference at Chartered Accountants’ Hall.”

Find out more here https://www.fraudadvisorypanel.org/event/fraud-conference-2025/

Share your AI fraud experiences

The ICAEW would like to hear from members who have been victims of AI-enabled fraud or attempted scams against them and are happy to share these stories anonymised to educate others, as well as any protective measures you are looking to implement. We also welcome input from those with general concerns about AI-enabled fraud who would like more information. Please contact Emma Gilfillian at Emma.Gilfillian@icaew.com.