RegulationCorporate GovernanceNew national authority to fight fraud

New national authority to fight fraud

City of London Police to become lead body in fraud battle

The City of London Police are to become the ‘lead force’ for countering

fraud with a new National Fraud Strategic Authority dedicated to countering
white collar crime following the government’s wide-ranging review of fighting
fraud.

The attorney general Lord Goldsmith announced a series of initiatives
resulting from consultations on the review published last year, warning
associated crimes cost the UK £330 for every man, woman and child.

He said the danger is that many police forces, faced with tough choices over

priorities, ‘have taken the view people aren’t in fear of being embezzled
when they walk down the street.’

Initiatives still being considered by the government include greater use of

trained accountants and IT experts, but with concerns about extending police

powers to civilians, with problems over accountability, procedure and legal

knowledge.

A government response paper said the lead force’s remit would be extended

from the south-east to the whole of England and Wales, developing a centre

of excellence for counter fraud training and with proposals to train more
counter fraud professionals.

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