The Chartered Institute of Public Finance and Accountancy (CIPFA)’s Counter Fraud Centre (CCFC) and BAE Systems Applied Intelligence (BAE) have partnered to develop counter fraud and cyber security services for the public sector.
According to CIPFA, the agreement "aims to revolutionise how public sector organisations can use technology to identify and protect themselves against fraudulent activity and cyber attack."
The partnership between the two organisations will focus on four main areas: risk management, fraud detection, cybersecurity and compliance and anti-money laundering (AML).
To that effect, CIPFA and BAE will develop a series of tools for the public sector to better understand the fraud landscape and how to respond to it, this includes the creation of a fraud risk register and the promotion of advanced data analysis tools and innovative technology to better support the fight against fraud and connect with other authorities facing similar issues.
Commenting on the agreement, CIPFA head of CCFC Rachel Tiffen said public services are experiencing huge shortfalls because of fraud and the partnership between CIPFA and BAE will help decrease those through increased capability in collecting and sharing data on fraud.