The scheme aims to target criminals who escape the law because many forces lack the resources and expertise to target the ‘white collar’ crime of lower-level fraud.
The City police will become the first in a series of ‘lead forces’ that operate outside their own jurisdictions to export special expertise, targeting London, Kent, Sussex, Surrey, the Thames Valley and Essex.
Speaking yesterday at the British Bankers’ Association Annual Financial Crime Conference, home office minister Caroline Flint said:
‘Today’s announcement means that the specialist expertise of City of London Police in tackling fraud will help cut crime right across the country.’
The force will receive an additional £2m per year from the Home Office and the Corporation of London to support the expansion. The annual cost of fraud to the UK economy has been put as high as £14bn, according to Lord Goldsmith, the attorney general.
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