The Public Sector Fraud Authority (PSFA), which was set up last year to help public bodies tackle fraud against the public purse, will work with Quantexa to use new data and cutting edge technology, including Artificial Intelligence, to find and prevent more fraud across the public sector. Quantexa’s technology is capable of processing billions of data points at high speed to identify suspicious activity.
The £4 million contract is part of a wider investment across government to take the fight to those committing fraud against the taxpayer – rooting out fraud and using modern tools and techniques to stop it before it happens.
The PSFA was backed by £25 million of funding. It will be the centre of the government’s Counter Fraud Function and It has been tasked with modernising the government’s counter fraud response, working with departments and public bodies to improve their fraud defences and using leading practice and modern techniques to protect taxpayer money.
It has set a first-year target of £180 million of recognised fraud benefits, which it is on course to hit.
The Government Counter Fraud Function brings together the c.13,000 people who work in departments and public bodies to fight fraud. This includes those working to understand and mitigate fraud risk within their organisations and those who work in the public sector to fight economic crime.
From: Gov.uk
Photo ref: Alex Knight
