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
Illiquid assets pricing still needs expert judgement, say banks
EU regulators want more transparency in valuations, but some asset prices remain elusive
Fed to move tailored-capital goalposts soon, says Bowman
Banks hope agencies will index triggers for harsher capital rules to economic growth
Will SEC reporting proposal supercharge alt data providers?
Move that would allow companies to opt out of quarterly reporting disclosures welcomed
EU lawmaker calls for review of Luxembourg’s cross-border rules
Grand Duchy accused of side-stepping rules aimed at prising away banking business from London
Un-American or un-JPM? Surcharge rethink divides G-Sibs
Some see sense in rethink to funding indicator, others call for a backtrack
Bank of England softens tone on CCP cross-product margining
Breeden supports margin efficiencies to encourage more repo clearing, but still warns on leverage
UK securitisation reforms trump EU’s, say market players
Originators and investors could find UK securitised assets easier to deal with after tandem reviews
Europe’s next chore: cleaning a floor made messy by the US
Rejection of Basel III’s output floor leaves EU with some difficult decisions to make
