A government-commissioned review published on July 14 by British lawyer Jonathan Fisher KC has proposed a tougher anti-fraud framework in the UK, including financial rewards for whistleblowers and specialized judicial training for cases involving cryptocurrency laundering and AI-enabled fraud. According to the report, titled Fraud in the Digital Age, fraud accounts for nearly 50% of reported crime in the UK, while only 1% of cases lead to a criminal justice outcome. Fisher argued that fraud should be treated as a national security and economic priority rather than as a lower-level financial offense. The review recommends that the Serious Fraud Office offer monetary rewards to whistleblowers and that an independent arbitration panel be created to handle complaints from them. For crypto-related matters, the report says the Judicial College should design training for all judges, including magistrates. It also proposes doubling the maximum sentence for serious fraud and money laundering to 20 years and introducing an anti-fraud tax on social media companies. The UK government said it will examine the recommendations and respond.
British lawyer Jonathan Fisher KC has called for whistleblower rewards and stronger judicial training in cryptocurrency-related cases in a government-commissioned review published on July 14, according to Cryptopolitan.
The report, Fraud in the Digital Age, says fraud makes up nearly 50% of reported crime in the UK, yet only 1% results in a criminal justice outcome. Fisher said fraud should be treated as a "national security and economic priority" rather than as a lower-level financial crime.
Among the recommendations, the review says the Serious Fraud Office should pay monetary rewards to whistleblowers and that an independent arbitration panel should be set up to handle whistleblower complaints. In crypto-related matters, it recommends that the Judicial College create a training program for all judges, including magistrates, covering cryptocurrency money laundering and AI fraud cases.
The report also proposes doubling the maximum sentence for serious fraud and money laundering to 20 years, and imposing an anti-fraud tax on social media companies. The UK government said it will study the recommendations and issue a response.
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