Opinion: UK G20 presidency must be lever to mitigate international fraud

The UK government is increasingly taking fraud more seriously.

For example, the Home Office launched a new three-year fraud strategy in March 2026 that has a keen focus on online fraud in particular, complementing 2023’s Online Safety Act, which came into effect from January 2024.

These actions are music to the ears of UK general insurance’s (UKGI) counter fraud community – many of which participate in Insurance Times’ quarterly Fraud Charter roundtable series, sponsored by law firm Carpenters Group.

However, at the most recent Fraud Charter gathering – held on 25 June 2026 – attendees recommended that the British government broaden its scope to better consider international fraud because “fraud is now crossing borders”, meaning that both the insurance industry’s and country’s “response has to cross borders too”.

Mark Allen, head of fraud and financial crime at trade association the ABI, explained: “Fraud has changed. It’s now much faster, easier to do at scale, more technology driven and it’s much more international in how it’s planned, carried out [and] monetised.

“If fraud is now crossing borders, then our response has to cross borders too. Criminals at the moment are very good at exploiting the gaps between countries, agencies and sectors, so they’re moving money, data identities [and] tactics across borders with relative ease.

“No single organisation can see the full picture on its own, so that means we need a much more joined up approach across law enforcement, government, regulators, insurers, tech providers, international partners and so on.”

For Allen, a vital lever the UK can engage to achieve this aim is its scheduled year-long presidency of the international G20 forum in 2027.

Established in 1999, the G20 includes representation from 19 countries, as well as two multilateral bodies – the European Union and the African Union. Its discussions centre on global financial stability, international economic cooperation, trade and investment.

Presidency of the G20 circulates across its membership on an annual basis, with the UK government confirming in November 2025 that its turn at the helm would commence in 2027.

Allen confirmed to Fraud Charter delegates that those involved in the G20 forum’s organisation had already approached industry bodies for feedback on key themes that needed addressing next year, with related roundtables taking place in June and July.

He added that collaboration to mitigate international fraud was the primary ask arising from these sessions, as well as exploring exactly what the G20 collective could do to help.

Allen continued: “Fraud is now responsible for about 46% of all crimes that are reported in the UK. A lot of that is online fraud and a lot of that online fraud has an international nexus. So, [tackling international fraud is] really important.”

The UK’s leadership of G20 activity in 2027 could prove to be pivotal in making a meaningful dent in reducing fraud – especially as the country’s government has spent recent years finessing its focus on stamping out an array of fraudulent enterprises backed by policy.

However, this is by no means a silver bullet – Allen acknowledged that although preparatory plans were looking “positive”, the upcoming G20 focus on international fraud still has to be rubber stamped. And with political disarray in Downing Street seemingly ongoing, achieving any consensus appears to be a greater ask than normal.

Let the watching and impatient waiting commence.