Gov't crackdown on money laundering continues

SOCA, unveiled by the Home Office, will bring together the National Criminal Intelligence Service , the National Crime Squad , and HM Customs & Excise , as well as those offices within the Home Office responsible for immigration crimes.

Early estimates are that up to 5,000 police officers, IT and financial forensics experts and support staff could be brought together this way. It will create a single UK-wide agency tackling organised crime such as drug and immigrant smuggling, and associated activities such as money laundering.

The Home Office will publish a policy paper next month detailing the structure of the new agency.

One question yet to be answered is how the new agency will work alongside local police forces.

The FSA is already committed to greater use of City of London police as part of its role in combating financial crime.

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