Britain is to crack down on money-laundering by creating a national economic crime centre that will target drug dealers and people traffickers.
The crime unit will have the power to direct the SFO to carry out investigations, the Government said.
Britain's plan to exit the European Union in 2019 has raised fears of a "bonfire of regulation" that could result in the City of London losing its status as one of the world's financial centres, says Reuters.
Strengthening the integrity of Britain as a financial center will be a top priority under the package, which also includes proposed new laws.
Afghanistan's inaugural Test scheduled against India
ACB chairman Atif Mashal and CEO Shafiqullah Stanikzai had met BCCI CEO Rahul Johri in Mumbai and requested to play against India. Besides welcoming them into five-day cricket, the BCCI has extended a helping hand to Afghanistan on a number of occasions.
Commenting on the new NECC, Home Secretary Amber Rudd said: 'We are taking action against economic crime, and by that I mean the high-level crime, the billions that have been laundered through the City of London. It would be able to "directly task" the fraud office to investigate cases of fraud and corruption.
The government estimates that financial fraud costs a further 6.8 billion pounds a year or over 100 pounds per person.
There will also be a review of existing rules on confiscating proceeds of crime in order to improve the process by which confiscation orders are made and applied.
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