City of London policing head welcomes Government’s Economic Crime Plan

The City of London policing head has welcomed the Government’s second Economic Crime Plan (ECP).

Chair of the City of London Police Authority Board, James Thomson, said: “The Home Office has published a comprehensive and coordinated Economic Crime Plan, which builds on the foundations of the first ECP, but more importantly focuses on reducing the threat international illicit finance poses to the UK.”

The Government’s Economic Crime Plan outlines the Government’s intention to strengthen the multi-agency response by public and private sector organisations to tackling economic crime.

Mr Thomson said: “If we want the UK’s financial institutions to remain some of the strongest and most prosperous in the world, we must ensure that the City and the wider national economy are the safest places to do business in the world.”

The former City of London Police Special Constable said it was “imperative to improve how we tackle fraud”. He said: “Economic crime is nothing new, but now fraudsters are exploiting technological developments and vulnerable people to fund all manner of illicit and illegal activities and criminal lifestyles.”

As Chair of the Authority’s Economic and Cyber Crime Committee, Mr Thomson said economic crime has an impact on businesses, communities, and individual victims across the country.

He went further and said: “Fraud makes up nearly half of all crime in England and Wales, and the new Economic Crime Plan requires the partners and communities at local and national levels to work together systematically in order to address the threat collectively.”

The City of London Corporation’s Court of Common Council is the Police Authority for the Square Mile.

The City of London Police Authority Board is responsible for holding the Commissioner of the City of London Police to account.

It aims to make sure the force is running an effective and efficient service, ensuring value for money, and setting policing priorities considering the views of the local community.