A new economic crime taskforce to combat fraud, bribery, money laundering and corruption has been launched by the government. It is estimated that economic crime costs the UK at least £14.4 billion per year.
The new Economic Crime Strategic Board will be jointly chaired by Chancellor, Philip Hammond, and Home Secretary, Sajid Javid. Included on the Board are chief executives from the UK’s largest banking institutions, as well as senior representatives from UK Finance, the National Crime Agency, and the Solicitors Regulation Authority, Accountants Affinity Group and National Association of Estate Agents.
The taskforce intends to meet twice a year to set priorities, direct responses and scrutinise performance against the threat of economic crime which is set out in the Serious and Organised Crime (SOC) Strategy.
Commenting on the new government taskforce, the Chancellor said: “The UK is leading the world in the fight against illicit finance, preventing fraudsters from stealing billions from the public each year. By bring together specialists across the public and private sector, we can use the best of our expertise to maintain our status as a global financial centre.”
17/01/2019
View all >
15/08/2019
Digital firms find tax compliance complex
Research carried out by HMRC has revealed that UK digital businesses 'struggle with the complexity of tax requirements'. Market research company Ipsos MORI carried out the study on behalf of HMRC, and
READ MORE
14/08/2019
New Off-Payroll Tax Rules from April 2020
Already in place for the public sector since April 2017, the off-payroll legislation, commonly known as IR35, will come into force for the private sector from 6 April 2020. However, the new rules will only apply to
12/08/2019
Government Spending Review fast-tracked
In order to provide government departments with 'financial clarity' ahead of Brexit, the Chancellor Sajid Javid has announced that a one year spending review will be carried out next month.
Sign up to keep in touch to receive our latest news and industry updates.
CharitiesDentistsDoctorsTax
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.