Simil Economic Crime Plan 2019-22 July 2019 1 © Crown copyright 2019 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email:
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[email protected]. 2 Contents Foreword 2 Vision and Context 7 Introduction 7 What is economic crime? 10 The threat of economic crime 11 The economic crime response framework 13 Our progress to date 15 Projects and commitments 17 Strategic Priority One: Understanding the Threat and Performance Metrics 22 Strategic Priority Two: Better Information-Sharing 26 Strategic Priority Three: Powers, Procedures and Tools 32 Strategic Priority Four: Enhanced Capabilities 37 Strategic Priority Five: Risk-Based Supervision and Risk Management 47 Strategic Priority Six: Transparency of Ownership 54 Strategic Priority Seven: International Strategy 58 Governance and the public-private partnership 65 Monitoring the plan 65 Annex A – Organisations consulted in development of this plan 69 Annex B – Glossary 71 1 Ministerial Foreword Economic crime is a significant threat to the security and the prosperity of the UK. It impacts all of our society, including our citizens, private sector businesses and the government. Fraud is now one of the most common crimes in the UK, with one in fifteen people falling victim a year.