City of London Police hosts Serious and Organised Crime Exchange

The Serious and Organised Crime Exchange (SOCEX) conference, which is held to enhance the UK’s response to fraud, economic and cyber crime, has been opened today by the City of London Police’s T/Assistant Commissioner Nik Adams.

This year’s conference brings together over 400 operational law enforcement professionals and government and industry representatives.

Over the next two days, attendees will hear from influential speakers and attend workshops on key issues and emerging trends in the world of economic crime including fraud, money laundering and asset recovery. This will help them to better support victims, proactively pursue offenders, protect people and businesses and improve joint working across agencies.

SOCEX is taking place during International Fraud Awareness Week, highlighting the importance of the role of law enforcement agencies and the private sector sharing expertise and resources to tackle the threat posed by fraud. Around 70 per cent of fraud offences in the UK have ties to overseas criminals and an average of around £8.2 million was lost each day to overseas accounts last year.

During his opening address, T/Assistant Commissioner Adams, who coordinates the national policing response to fraud, economic and cyber crime, called for fraud prevention to be recognised as a global issue. With around 80 per cent of fraud being cyber enabled, he also emphasised the importance of the tech industry’s role in supporting the fight against fraud by designing it out of online platforms.

T/Assistant Commissioner Nik Adams, City of London Police, said:

“International Fraud Awareness Week demonstrates that fraudsters don’t recognise geographic boundaries, so nor should we. Fraud is a global issue and is increasing in complexity, so it’s vital that government, law enforcement agencies and the private sector work together to protect the public and support victims.

“Given the devastating impact fraud has on victims, it’s especially important that global tech companies give the same priority to protecting customers from fraud as they do from online sexual exploitation and terrorism.

“This conference, led by the City of London Police, enhances our relationships, provides a platform to share expertise, and allows those working operationally to help influence our priorities for policing. This is essential in helping us, as the national lead force for fraud, to turn the tide against this distressing crime.”

T/Assistant Commissioner Adams also reflected on recent successes, including:

• The emphasis and impact of proactive national policing operations against fraud in 2024. This includes Operation Henhouse 3, a month-long nationwide policing intensification coordinated by the City of London Police and National Crime Agency, which resulted in 438 arrests and £19 million worth of criminal assets seized or frozen.
• The inaugural Global Fraud Summit, which was hosted by the UK Government, and provided a platform for senior ministers to discuss how global law enforcement can tackle the threats posed by organised criminal groups and how partnerships with the private sector can help counter criminality and reimburse victims of crime.
• Senior international delegations, who visited the UK in 2024 to learn about its response to economic crime and to strengthen partnerships.

Notes to editors

The Serious and Organised Crime Exchange (SOCEX) Economic Crime Conference takes place from 18 to 20 November in Stratford-upon-Avon.

International Fraud Awareness Week is a campaign established by the Association of Certified Fraud Examiners. It takes place from 17 to 23 November this year.

The Home Office has estimated that a total of £3 billion was lost to overseas accounts last year as a result of fraud: https://www.gov.uk/government/news/uk-hosts-world-leaders-for-first-global-fraud-summit

The City of London Police estimates that over 70% of fraud either originates abroad or has an international element: https://www.gov.uk/government/publications/fraud-strategy/fraud-strategy-stopping-scams-and-protecting-the-public