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Britain’s FIU Will Be Absorbed by New Agency

By Colby Adams

A U.K. agency responsible for seizing assets, detecting money laundering and processing suspicious activity reports will be dismantled just four years after it was established, the British government said Monday. The primary duties of the Serious Organised Crime Agency (SOCA) will be folded into a new crime-fighting bureau called the National Crime Agency, which will "harness and build on the intelligence, analytical and enforcement capabilities of [SOCA]," said U.K. Home Secretary Theresa May, in a statement. SOCA, which includes the U.K. Financial Intelligence Unit, is also responsible for investigating human trafficking, major gun crime, fraud and computer crime, according to...

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