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U-turn on SFO split plan

The home secretary yesterday dropped plans to roll the Serious Fraud Office into the National Crime Agency saying “The SFO is staying as it is.”

The Financial Times reports that the NCA will now house a co-ordinating board for the agencies that fight white-collar crime, including the SFO and will be set up in the next 12 months with the NCA becoming fully functional by 2013.

Theresa May formally introduced the NCA plans on Wednesday and said the relationship between the NCA, SFO and other agencies would only be reviewed after the NCA was up and running.

May says: “We are setting up very soon a co-ordinating board, which is going to give a very clear message that we are taking economic crime seriously.”

The NCA will be an umbrella agency with an annual budget of £400m and will fight crime, cybercrime, fraud and illegal immigration.

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