Fraud investigators at the City of London have clawed back more than £178,000 in just six months, and are now turning to artificial intelligence to help them catch more.
The City of London’s Counter Fraud and Investigations team recovered the money and concluded 15 investigation cases in the first half of the 2026/27 financial year.
The results were reported to the Audit and Risk Management Committee on 2 November 2026. The mid-year report said the team had made positive progress against its objectives, despite a significant focus on one complex reactive investigation.
That investigation, which took up substantial time and resources, looked into allegations about a major procurement exercise. No evidence was found to substantiate the allegations, and the case has now been closed.
The team’s next steps include securing free access to an AI-supported fraud risk tool and developing its own AI solution. The aim is to increase capacity and productivity when reviewing data-matching results.
It is also preparing for the National Fraud Initiative (NFI), an exercise that runs every two years, on behalf of both the City of London Corporation and the City of London Police. The team is gearing up to work on the final response from NFI data matches, which are expected in December.
Alongside this, it is strengthening collaboration with fellow London Counter Fraud Hub members and the Public Sector Fraud Authority. The goal is to drive better performance and respond to emerging fraud risks.
