Fraud has towered over our economy for too long and has reached the highest levels since first measured in the crime survey for England and Wales. This deceitful crime now represents 44 per cent of all offences or 4.1 million incidents, with more than £1 billion lost to fraud last year alone.
Behind those numbers are millions of victims who may feel ashamed, helpless, and forgotten. The impact can be devastating – damaging mental health, destroying families, and slowly eroding public trust.
Rising over Salisbury Square in the City of London are cranes, laying the foundations to boost the national fightback against fraudsters. Our £600 million investment will create a new justice hub, set to open in early 2027.
Landmark development of new police HQ
This landmark development will become home to the headquarters of the City of London Police and 18 new state-of-the-art courtrooms focused on tackling economic crime. In doing so, investigators, prosecutors, and analysts will be brought together under one roof, ensuring justice can move as swiftly as the crime it seeks to confront.
Once opened, Salisbury Square will cement the Square Mile’s reputation as a safe, secure and world-leading location that protects the rule of law, supporting ‘Destination City’ the City Corporation’s growth strategy for the Square Mile. This investment is in addition to hundreds of millions of pounds the City Corporation is investing in major projects, including the renewal of the Barbican Centre and the London Museum.
While the development of Salisbury Square continues, the City of London Police is already taking the fight to scammers: fraud arrests are up 22 per cent, charges have increased by 128 per cent, and convictions by 130 per cent. The Force’s Dedicated Card and Payment Crime Unit has also saved the financial services industry £800 million by preventing and disrupting fraud. And next year, a new national service will replace Action Fraud, transforming reporting and analysis capability to handle the 300,000 reports of fraud made by victims each year.
Action on cybercrime
As government considers wider policing reforms, national coordination on fraud and cybercrime must be protected and strengthened. Over-centralisation could risk losing the key contribution from local police forces, specialist expertise and existing close partnerships with business that have helped to deliver the recent strong progress the City of London Police has achieved fighting fraud.
While technology can protect, it can also betray. And as we mark International Fraud Awareness Week, we are reminded that every message, every transaction, and every click is a potential target. Prevention begins with awareness.
Salisbury Square will stand as both a symbol and a test: can our justice system keep pace with the crimes it seeks to stop? The City of London Corporation, our Police force and our partners are determined to deliver a resounding yes.