The City of London and Metropolitan Police have joined forces with a business school to create an anti-fraud and money-laundering academy within the City.
According to a report, the police have signed a memorandum of understanding with Cass Business School to establish the first centre dedicated to financial regulation and crime which is targeted at law enforcement and the private sector.
The academy plans to run short training course as well as MBA style programmes, available for police officers, prosecutors, financial regulators lawyers, bankers and bookmakers.
Course designer Chris Brady said the financial crime school was needed to carry out cutting-edge research into the scale and activities of money launderers, which neither the police nor financial institutions were providing, revealed the report.
He said the academy would act as a focal point where law enforcers, regulators and city enforcers, regulators and City professionals could share knowledge on a traditionally mysterious subject.
Brady said: "The question is not should we do this but why haven't we been doing it for ten years and why is no-one else doing it?"
He dismissed concerns that the academy would lead to better-educated criminals.
Brady hopes to have full diploma courses open to the public and private sector within two years, concluded the report.
