‘Economic crime probes taken on by City of London Police have fallen by nearly a third in the past four years as the force suffered funding cuts, according figures obtained by Pinsent Masons law firm.
The force investigated 563 cases over the last year, down from 777 in 2011-2012, the report reveals. The figures have fuelled concerns that the 15 percent cut to the force’s budget in the last five years may be eating into resources for such investigations.
“The fact that there are fewer investigations does not, unfortunately, mean that white collar crime rates are down. It is simply another indication that the bodies tasked with tackling the issue are ill-equipped to do so,” the head of global corporate crime at Pinsent Masons, Barry Vitou, said.’