The final report of the fraud review is published today and I have placed copies in the Libraries of both Houses. The Government are issuing it for consultation and seek responses by 27 October 2006.
The report outlines current arrangements for dealing with fraud, identifies gaps and shortcomings in the system and makes recommendations for dealing with them. The recommendations are wide-ranging and are aimed at improving fraud deterrence, prevention, detection, investigation, prosecution and penalties. Benefits will include reduction of fraud losses to taxpayers, consumers and businesses, and a reduction in the harm that fraud causes to individuals and communities.
The Government accept the analysis of the report and are sympathetic to the broad conclusions and recommendations, but we believe that the report would benefit from a wider public consultation. Implementation of the recommendations will be considered in the light of consultation responses and after further evaluation of the funding and legislative implications.