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Britain targets financial fraud with anti-corruption police unit

LONDON, Dec 18 (Reuters) – Britain is to set up a specialist police unit focused on corruption and bribery, aiming to bolster its defences against white-collar crime in the financial sector as part of a wider plan to stamp out fraudulent business practices.

Banks and other financial players account for about a tenth of the UK economy’s output but the sector has been damaged by a succession of scandals, making it important for the government to show it is clamping down on wrongdoing.