Banking industry squad disrupted 23 Organized Criminal Groups (OCGs) preventing £20 million of fraud. The specialist police unit (DCPCU) is funded by the finance and banking industry in a dedicated effort to stop fraud.
Commonly known as the banking industry squad, the DCPCU (Dedicated Card and Payment Crime Unit) is a joint effort between the Metropolitan Police Service, the City of London Police as well as banking industry fraud investigators. Supported by UK Finance, DCPCU is on the frontline in the fight against fraud. And over the past year, the unit has worked in partnership with several social media platforms to take down over 1,600 accounts which featured posts relating to payment:
- 500 “money mules” accounts used to recruit young people
- 250 accounts involved in the trading stolen card details
- +400 “brokers” accounts
- with the rest of the accounts used for “flipping”
In 2019 DCPCU seized £1.65 million of assets – over double the amount confiscated in the same period in 2018 – with a total of 75 fraudsters convicted to a total of 100 years in prison. DCPCU operational successes include:
- “Money mule” gang worth over £1.2 million and sentenced to nearly seven years in prison.
- Smising scam of worth £27 million disrupted and prevented with the combined prison sentence of over 14 years for two Londoner criminals who committed almost half a million pounds of fraud
- One individual from London found to have committed £50,000 of fraud and consequently sentenced to two years and nine months in prison
- A criminal committed over £31,000 of fraud in a Stolen card scheme
The DCPCU is very effective in disrupting criminals and a powerful example of how important is it that all sectors – i.e. banking industry – work with law enforcement to protect the public from fraud.
Read more on what the Head of the DCPCU, Detective Chief Inspector Gary Robinson, UK Finance Managing Director of Economic Crime and National fraud coordinator, Commander Karen Baxter have to say. Read NOW!
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Zafar I. Anjum is Group Chief Executive Officer of CRI® Group (www.crigroup.com), a global supplier of investigative, forensic accounting, business due to diligence and employee background screening services for some of the world’s leading business organisations. Headquartered in London (with a significant presence throughout the region) and licensed by the Dubai International Financial Centre-DIFC, the Qatar Financial Center – QFC, and the Abu Dhabi Global Market-ADGM, CRI® Group safeguard businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking to affiliate with your business. CRI® Group maintains offices in UAE, Pakistan, Qatar, Singapore, Malaysia, Brazil, China, the USA, and the United Kingdom.
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Zafar Anjum, MSc, MS, CFE, CII, MICA, Int. Dip. (Fin. Crime) | CRI® Group Chief Executive Officer
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