NewsCost Of LivingUniversal CreditBanks required to flag accounts breaching the savings limit09:28, 07 Jul 2026The Department for Work and Pensions has announced a crackdown on Universal Credit, with benefit recipients facing scrutiny across 18 indicators of potential fraud. The DWP is receiving expanded powers under the Labour Party government as part of efforts to tackle error and fraudulent claims.‌A new 'eligibility verification' provision within the Public Authorities (Fraud, Error and Recovery) Bill will compel banks and financial institutions to share information to help detect instances where people may not be fulfilling the requirements.‌This means banking staff will be obliged to notify the DWP when a claimant's account balance exceeds the capital thresholds. Those claiming Unive