UK to launch new fraud intelligence unit
Police, authorities and the banking industry launch the new Payment Industry and Police Joint Intelligence Unit
LONDON – A dedicated fraud intelligence division has been launched in the UK by the Home Office, payments association Apacs and the banking industry to more efficiently combat retail banking fraud. Police said the division would be operational immediately.
The new Payment Industry and Police Joint Intelligence Unit (PIPJIU) will form a new division of the Dedicated Cheque and Plastic Crime Unit (DCPCU), merging the banking industry's current liaison unit – the Fraud Intelligence Bureau (FIB) – and the intelligence section of the DCPCU.
Police say banks’ annual investment in the new intelligence unit, the DCPCU and the introduction by Apacs of a new fraud intelligence sharing system (FISS) has reached £5 million per year.
DCI John Folan, head of DCPCU, says: “With this increased funding and a wider remit, our primary objective is to build on the already successful work undertaken by the banking industry and the DCPCU in combating fraud.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Imminent US shake-up of LCR slated to include discount window
Adding Fed liquidity facility to bank regulation may help overcome stigma, raise lending capacity
French regulator wants permanent changes to EU’s output floor
Push for capital relief faces resistance from supervisors in Finland and the Netherlands
Council plans take Aquis, BME out of Esma oversight
German push to exempt Deutsche Börse catches three others, according to sources
Why watering down resolution plans is a bad idea
Bank failures are inevitable; banking crises are not
BIS’s Hernández de Cos on AI, non-bank risk and tokenisation
General manager talks about how the BIS is navigating a complex global environment
‘European SEC’ no silver bullet for growth
EU policymakers hope a single, centralised supervisor will help rev up Europe’s economy but critics are mustering
Permanent FRTB reforms seen as vital for IMA adoption
Temporary relief granted in June has done little to encourage internal model use in Europe
How to ensure the next Credit Suisse or SVB fails ‘well’
Regulators are planning changes to resolution rules after criticism that living wills were ignored in previous bank collapses
