Monday 8 December 2003 - News - Security
£2 million cash boost to combat fraud
The Home Office today
announced a £2 million cash boost in the fight against fraud, adding
that the City of London Police would take the lead in investigating
complex fraud cases.
The additional investment, provided by the Home Office and the Corporation of London, will support the expansion of the City of London Police fraud squad. This will be backed by a further £1 million from the Home Office for capital costs.
The City of London Police operate within London's 'square mile' and have built up a wealth of expertise in investigating complex fraud cases, according to the Home Office. It said their expertise and experience would now be used to uncover and prosecute serious fraud wherever it occurs in the south east - not just the City.
Speaking at today's British Bankers' Association Annual Financial Crime Conference, Home Office Minister Caroline Flint said: "We are determined to clamp down on fraud and at the same time take the profit out of crime. Fraud costs Britain billions of pounds every year, affecting us all not only financially, but by damaging our reputation for good business.
"Today's announcement means that the specialist expertise of City of London Police in tackling fraud will help cut crime right across the country, supported and expanded by a three million pound cash boost this year."
The City of London Police will be the first force to be recognised as a 'lead force', as outlined in the recent Green Paper on Policing.
The Government estimates that the cost of fraud to the UK economy is as much as £14 billion every year, the equivalent of £230 for every person in Britain.
Angie Bell
The additional investment, provided by the Home Office and the Corporation of London, will support the expansion of the City of London Police fraud squad. This will be backed by a further £1 million from the Home Office for capital costs.
The City of London Police operate within London's 'square mile' and have built up a wealth of expertise in investigating complex fraud cases, according to the Home Office. It said their expertise and experience would now be used to uncover and prosecute serious fraud wherever it occurs in the south east - not just the City.
Speaking at today's British Bankers' Association Annual Financial Crime Conference, Home Office Minister Caroline Flint said: "We are determined to clamp down on fraud and at the same time take the profit out of crime. Fraud costs Britain billions of pounds every year, affecting us all not only financially, but by damaging our reputation for good business.
"Today's announcement means that the specialist expertise of City of London Police in tackling fraud will help cut crime right across the country, supported and expanded by a three million pound cash boost this year."
The City of London Police will be the first force to be recognised as a 'lead force', as outlined in the recent Green Paper on Policing.
The Government estimates that the cost of fraud to the UK economy is as much as £14 billion every year, the equivalent of £230 for every person in Britain.
Angie Bell
