New City of London cyber crime court 'will be terrific advert for post-Brexit Britain'

The new court will focus on cyber crime and fraud.
Jeremy Selwyn
Francesca Gillett9 October 2017

A new flagship court to tackle cyber crime and fraud in the London’s financial sector is to open in the City of London.

The state-of-the-art building in Fleet Street will house 18 courtrooms and mainly focus on economic crime, as well as containing brand new civil, mayoral, county and magistrate’s courts.

The centre will replace all of the City’s current court services except from the Old Bailey.

Justice minister Dominic Raab said it will be a “terrific advert for post-Brexit Britain”.

The City of London Corporation said the court will “help cement the City’s position as a preeminent legal cluster and the leading global financial centre”.

Funding options are set to be explored early next year.

More than nine per cent of the Square Mile’s workforce - around 44,000 jobs - is employed in legal services. One in eight legal sector workers are based in the City.

The modern court will also house a replacement magistrate's and county court, as well as focusing on cyber and economic crime. (Shutterstock )
Shutterstock

Financial services firms currently make up 17 per cent of the total demand for legal services in the UK.

Catherine McGuinness, policy chairman at the City of London Corporation, said:

“Our legal system has been an example to the rest of the world,” said Catherine McGuinness, policy chairman at the City of London Corporation.

“Playing host to some of the world’s leading regulators, financial services and tech firms, the City is a natural choice to house this modern judicial centre.

“This proposal will make sure London continues to set the highest legal standards domestically and internationally.”

Justice minister Dominic Raab said: “This new flagship court will build on UK legal services’ unique comparative advantage, by leading the drive to tackle fraud and crack down on cyber-crime.

“By reinforcing the City’s world-leading reputation as the number one place to do business and resolve disputes, it’s a terrific advert for post-Brexit Britain.”

HM Courts and Tribunals Service said the new centre will be equipped with “21st century technology” and is part of a six-year project to digitise many of its services.

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