Proceeds of crime to fund police unit after £2.5 million seized
A West Midlands Police team has seized more than £2.5 million in ill-gotten gains from criminals since its launch.
The efforts of the officers have proved so successful that the unit will be able to use the money it recovers from offenders to fund its work and cover the cost for future investigations from April 1.
The team, which is made up of financial investigation experts, was launched in 2019 for two years at a cost of £160,000 to trace and recover ill-gotten gains from organised criminals and drug gangs.
Dubbed 'Operation Pound' it was designed to hit criminals in the pocket.
It was initially funded by the West Midlands Police and Crime Commissioner's office and has proved so successful that the team behind it now believes it can fund itself using the cash retrieved from criminals. The initial funding will end on March 31.
The ill-gotten money is recovered using financial intelligence and information and the powerful civil elements of the Proceeds of Crime Act 2002.
As a result, the offenders are now effectively paying the wages of the police team which is investigating them.
West Midlands Police and Crime Commissioner Simon Foster said: “I’m delighted that the Operation Pound team has confiscated so much proceeds of crime from offenders that it can now fund itself.
“This is a win-win. Money is taken off criminals and used to investigate more criminal activity. It’s a virtuous circle.
“I’m sure offenders who break the law will not be too happy when they read this, but that’s fine by me.”
Last year £1.6m was seized and since its launch the team has confiscated nearly £2.5 million pounds from hundreds of cases.
Jenny Birch, former economic crime unit head, said: “I have watched the team evolve and I am so proud of what they have achieved, especially the impact that they have made against those who commit crime.
“The recovered assets can now be used not only to fund the team moving forward but also to be reinvested into community projects. It really is a win-win."
Recouped cash is being used to funding the team’s running costs, while additional money seized will go towards funding drug support services.
The approach has been dubbed Operation Pound by officers as part of efforts to hit criminals where it hurts the most and take away their cash.
When it was launched, the team comprised three financial investigators, who were hired from the banking sector and an intelligence analyst.
