UK forms new fraud unit after billions drained from economy

Fraud has become a major economic challenge, accounting for 45% of all crime.

In response to ever increasing fraud rates, the UK government will launch a £30m ($40m) Online Crime Centre in April to target what it describes as “pervasive” organized crime groups.

The initiative will bring together expertise from the police, intelligence agencies, banks, mobile networks, and major tech firms. It forms

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