FOI reference - FOI-276
Date - 25 June 2024
Request
- When are you next going through an audit of the national fraud initiative?
- What current procedures do you have in place such as confirmation of payee against fraud?
- What is your current confirmation of payee software incumbent product and the renewal date of the contract?
Response
I confirm that we hold the information you have requested.
- When are you next going through an audit of the national fraud initiative?
The Pensions Regulator (TPR) is an Arm’s Length Body (ALB) and is therefore not required to submit core mandatory datasets as part of the bi-annual National Fraud Initiative data matching exercise. Although ALB’s can voluntarily submit payroll data, trade creditors’ payment history, and trade creditors’ standing data, TPR do not currently do so. A list of participating bodies and dataset scope can be found here: https://www.gov.uk/guidance/national-fraud-initiative-public-sector-data-requirements
- What current procedures do you have in place such as confirmation of payee against fraud?
The Pensions Regulator has its own internal control mechanisms to ensure that payee details are reviewed and confirmed before any payment to a supplier is actioned.
- What is your current confirmation of payee software incumbent product and the renewal date of the contract?
Our banking system has this service included (i.e., to ensure that account number, sort code and account name are valid, and match details held on file).