Work is underway to ensure the Island has 'sophisticated' and flexible provisions against fraud.
The Cabinet Office is in the process of updating and clarifying legislation by bringing forward a draft Fraud Bill.
Currently laws covering fraud are contained within the Theft Act of 1981 - an act based on UK legislation from 1968.
The new bill would establish the general offence of fraud and the three ways of committing it - by false representation, failing to disclose information or abuse of position.
It would also create new offences of obtaining services dishonestly and of possessing, making and supplying articles for use in frauds as well as an offence of participating in fraudulent business.
People are being urged to comment on the new ideas - the deadline for responses is October 7th.
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