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Motor finance fraud squad is formed |
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Thursday, 20 September 2007 |
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The Association of Chief Police Officers and the Finance & Leasing Association have joined forces to create a new crack police team that will investigate frauds against motor finance companies.
The new team, which will investigate cases throughout England and
Wales, will operate from a base near Coventry.
Latest figures from the FLA show that the number of consumer motor
fraud cases in the year ending March 2007 stood at 1,051. The cost to
the industry of this type of fraud was £18.3 million.
“In an ideal world the police wouldn't need private sector resources to
enforce the law but we are realists,” said FLA director general Martin
Hall.
“Our members' answer is to commit their own money to a specialist unit
dedicated to investigating frauds against them. This is a commercial
decision, and our members, the police and the public will benefit if it
succeeds.”
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