RegulationCorporate GovernanceAssets Recovery Agency to be closed

Assets Recovery Agency to be closed

Some 650 financial investigators from Assets Recovery Agency could be transferred to Serious Organised Crime Agency as part of merger

The Assets Recovery
Agency
is set to be closed, just four years after promising to
recoup £60m a year in assets from organised crime.

Reports suggest that staff working at the agency, which includes 650
financial investigators, would be transferred as part of a merger with the
Serious Organised
Crime Agency
.

During 2004-2005 the agency recovered £4.4m in assets, despite costing £20m
to run.

Home Office minister Vernon Coaker said the agency had steered through
radical new powers through every legal challenge it faced, according to The
Guardian
.

Further reading:

Profession
left exposed as tip-off sources are disclosed to fraud suspects

Doing
your duty could put you in danger

UK’s
FBI-style agency gets tough on crime gangs

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