London to set up new fraud and cyber-crime court

The City of London Corporation is to set up a new centralised court in the UK capital’s financial district to focus primarily on cases involving fraud, economic crime and cyber-crime, such as phishing. The Corporation – the City of London’s local authority – said in a 9 October statement that the exact location would be confirmed after a feasibility study due early in 2018. It added that the plan reflects the “interconnectedness between financial and legal services” with financial services firms representing 17% of total demand for legal services in the UK or UK£2.8 billion. The plan is supported by HM Courts and Tribunal Services (HMCTS) and the UK Ministry of Justice.