International law firm Gowling WLG is working with City of London Police in a civil asset recovery programme for victims of fraud where a prosecution is not possible or viable.

The aim is to co-ordinate efforts between private and public stakeholders to investigate and pursue recovery of monies lost by victims as a result of fraud.

Following a successful pilot project involving an elderly victim suffering from Alzheimer's disease who was defrauded of more than £2 million though a cryptocurrency scheme scam, the Civil Fraud and Asset Recovery team at Gowling WLG is pleased to continue to work with City of London Police to assist victims of fraud.

The team led by Dispute Resolution Group Practice Leader Davinia Gransbury, Director Bríd Holden and Associate Rachel Argyle investigated the claim.

Bríd Holden said: "After a successful pilot, we are pleased to be working on this initiative with City of London Police to investigate and support victims to recoup monies lost to such frauds. We are hoping that working in collaboration with City of London Police will change the landscape and encourage more victims to report fraud, raising awareness generally, but also our aim is that this partnership will recover monies for victims of such frauds."

With over £570 million lost to fraud in the first half of 2024 alone in the UK, fraud victims are needing more help than ever to recoup their money. This partnership between private and public stakeholders to investigate and take back monies lost by fraud marks a significant step forward in the UK's fight against fraudsters.

Research conducted by City of London Police showed that, in the absence of a criminal investigation, civil asset recovery agents have a positive role to play in working together with law enforcement and supporting victims with recovering their losses. This not only gives victims the opportunity to recover some of their losses, but also enables a greater focus on targeting and organised crime groups (OCGs) and bolstering the UK against fraud and wider criminality.

Detective Chief Inspector Craig Mullish, City of London Police, said: "As a victim of fraud, you can feel helpless and that you have to shoulder the often heavy financial burden of losing money at the hands of criminals. Of course, a judicial outcome in the form of a custodial sentence and or conviction is preferred, however it's the money or assets that are lost that can have a lasting effect on victims. This trial with Gowling WLG is an incredibly positive initiative, which we hope will provide a clear process for victims in helping them take back what is owed to them."

For further information on the partnership, please contact Bríd Holden or Davinia Gransbury.