Crunch time for crime
With the markets in turmoil and the world poised for a long recession, the threat of fraud is set to increase. Philip Robinson, director of the financial crime and intelligence division at the UK Financial Services Authority, is making preparations. Victoria Pennington reports
The UK is launching a series of initiatives to improve detection and prevention of fraud and other forms of financial crime. These include recently established public-private initiatives such as the National Strategic Fraud Authority and the National Fraud Reporting Centre.
Philip Robinson, director of the financial crime and intelligence division at the UK Financial Services Authority (FSA), says the regulator is also stepping up its approach to combating fraud. In 2007, the FSA created the
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