The Home Secretary has announced the launch of a Joint Fraud Taskforce on fraud, which will include Financial Fraud Action UK, the City of London Police, the National Crime Agency, the Bank of England, the fraud prevention agency Cifas and the CEOs of the major banks. The Serious Fraud Office will not form part of the taskforce as it comes under the governance of the Attorney General. The aim of the taskforce is strengthen a collective response on fraud in order to make it more difficult for fraudsters to operate by improving intelligence sharing and closing the loopholes which they exploit.