Joining forces

This article, the first in a series in OpRisk & Compliance, is part of Incisive Media's editorial campaign to improve co-operation between law enforcement and financial services firms in fighting financial crime. Victoria Pennington looks at how the UK is moving towards more public-private co-operation to create a hostile environment for fraudsters

Conventional wisdom holds that fraud is a 'victimless' crime, as demonstrated most aptly by the saying 'No-one walks down the street in fear of being embezzled'. But this is changing. The explosion in incidences of financial crime in recent years - and anticipated further rises as a result of the coming global recession - is leading to a more widespread understanding of the scale and nature of the