Uncovered Tax Evasion Prevention Yields £11 Million in Six Months, According to Findings
The Fraud and Error Assessment Tool (FEAST), developed by Fujitsu, is currently in use by the Fraud Taskforce, a division of HM Revenue and Customs (HMRC). This tool is designed to combat public sector fraud by analysing tax credit applications for signs of fraudulent claims.
The Fraud Taskforce, launched last December under the leadership of the Minister for the Cabinet Office, Francis Maude, has overseen eight pilot schemes involving FEAST. One of these pilots included an alert system that cross-references government databases to alert individual departments to potential fraud. Another pilot included a data mining operation that analysed referrals to the Tax Evasion Hotline.
FEAST operates by applying dynamic risk criteria to every tax credit claim. If risk parameters are triggered, the claim is diverted to an operator for investigation. The system is also capable of investigating claim circumstances, with the ability to change or reject the claim if fraud is suspected.
According to a report by the Cabinet Office, the Fraud Taskforce saved nearly £11 million in six months. This savings was achieved using a £1 million system developed by Fujitsu. The report also predicts a potential saving of £256 million over the next four years due to the wider rollout of FEAST.
However, despite these promising figures, there is no available credible or detailed information about the effectiveness of FEAST in saving taxpayers' money for the UK government's fraud taskforce or about future implementation plans. The single retrieved snippet from "The Almighty Guru" is vague and does not specifically mention Fujitsu's FEAST, nor does it provide quantitative data or official statements about savings or future plans.
Given this limited information, it is not possible to assess FEAST's effectiveness or its future in the UK government fraud taskforce. Further authoritative sources such as government reports, Fujitsu press releases, or official UK fraud taskforce statements would be required to provide a comprehensive answer. HMRC plans to expand the use of FEAST more widely, and it will be interesting to see how this development unfolds in the coming months.
Technology integrated with finance and business landscapes is crucial in combating fraud, as seen with the Fraud and Error Assessment Tool (FEAST) developed by Fujitsu. The tool, which saves money by preventing fraudulent tax credit claims, is expected to have a significant positive impact on the UK government's business and financial sector, potentially saving £256 million over the next four years.
