An NAO report which reported that criminals keep all but 26 pence in every £100 generated by crime, has raised questions over the effectiveness of confiscation orders.
Enforcement agencies collected £133m of proceeds from crime in 2012-13, while the estimated loss to the economy through fraud last year was £52bn, according to the report.
The NAO said that the criminal justice system lacks a coherent strategy for dealing with the proceeds of crime through confiscation orders and that it is hampered by poor IT systems and poor communication.
Earlier this month, the Public Accounts Committee described the performance of law enforcement bodies as “rubbish”.
But according to David Winch...
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.