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City alert to white collar crime threat

Regulatory crackdown leads to increased detection of fraud and insider trading in the City of London, two reports published this week suggest

A regulatory crackdown on white collar crime and insider trading in the wake of the financial crisis is leading to higher levels of detected fraud in the City of London, according to two reports made public this week.

The total value of fraud committed in the UK financial services sector increased by 12% to £532 million last year from 2012, while the number of reported offences increased from 122 to 132, according to professional services firm BDO.

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