CISI in partnership with City of London Police

The partnership will allow our UK-based members to support the national policing lead on fraud in the fight against economic and financial crime in the UK

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We are encouraging CISI members based in London and surrounding regions, who are newly retired or about to retire, to volunteer their time and skills with the City of London Police, to support their efforts in tackling the fraud and cyber crimes that UK Finance estimates is costing the UK nearly £7 billion a year and affecting all aspects of  society, from individuals to businesses and consumers. The programme has started with a pilot in London and the surrounding region with the goal of working with police forces across the UK once it is underway.

Criminals are increasingly using complex, corporate structures to commit fraud, much of which is beyond the day to day routine knowledge and experience of the police.

CISI members working within bonds, capital markets and corporate finance, compliance, financial planning, fintech, operations, regulation, risk, and wealth management are qualified in specialist areas. Ian Dyson, City of London Police commissioner, says: “The challenge in the modern world is the volume of data we are dealing with. We have limited capacity in policing at the moment to manage this. People who are operating in a profession can bring those specialist skills that help me and my officers understand how the criminal is committing their fraud. CISI members all have skills that we need. You may think that you have nothing to give the police but the structures that you manage on a day-to-day basis are exactly the structures the fraudsters use and that we need to understand.”

"The structures that you manage on a day-to-day basis are exactly the structures the fraudsters use"

“The City of London Police is committed to tackling fraud so the opportunity to work with volunteers is invaluable to me. If CISI members want to do something away from their day job on a voluntary basis to help us in our efforts, I would welcome the opportunity to work with them,” said Mr Dyson.

James Phipson, special commander, City of London Police oversees all volunteering in the City and is spearheading a drive to bring more professionals into policing, with a specific focus on fraud. James is himself a volunteer police officer (special constable) and in his day job owns and manages his own professional services firm near the City. He said: “CISI members encompass exactly the professional pool that we want to reach out to. Every one of its members has skills that we are desperate to use. If CISI members want to get involved, we would be delighted to consider them. There is no minimum hours requirement at all. Some of our volunteers are retired and work for us full time. Others help us on specific investigations or in specific functions.”

CISI CEO Simon Culhane, Chartered FCSI, said: “As a professional body we work with over 1,000 volunteers, without which we couldn’t function. It occurred to us, that here was another opportunity for our senior members, all of whom have long backgrounds and expertise in the financial sector. Some of these senior members  might be thinking of moving away from full time paid work, to use their minds and time to help the public, by volunteering with the police to combat the fraudsters.

 

Published: 17 Jul 2020
Categories:
  • Financial Planning
  • Operations
  • Risk
  • Compliance
  • Bonds
  • International regulation
  • Capital Markets & Corporate Finance
  • Wealth Management
  • Fintech and Cyber crime
  • Community
Tags:
  • cyber crime
  • City of London Police

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