Invasion of the pickpockets

Britain is in the grip of a pickpocketing epidemic as Eastern European gangs descend on London ahead of the Olympic Games.

A surge in sneak street thefts means more than 1,700 people fall victim every day – an increase of nearly a fifth in only two years, according to official crime  figures released yesterday.

At the same time, police warned that professional gangs from Romania, Lithuania and even South America who operate in capitals across Europe are heading to Britain, intent on cashing in on unwitting tourists at London 2012.

How they do it: A member of the pickpocket gang approaches a BBC reporter investigating the rise in thefts ahead of the Olympics

Keeping him occupied: The man speaks to the victim on the pretense of needing directions while another gang member approaches from behind

A BBC investigation exposed the tactics used by Romanian thieves, who were previously operating in Barcelona, to dupe their victims.

The criminals boasted of their ‘one-second’ theft techniques which leave targets unaware that anything has happened until  it is too late. They can make £4,000 a week taking wallets, smartphones and laptop bags. The goods are then shipped back to Romania and sold on the black market.

 Scotland Yard has made more than 80 arrests already and warned thieves the capital will be a ‘hostile environment’ in the coming weeks.

The Met has even drafted in a team of Romanian police officers to deal with the problem and patrol in the West End of London and Westminster during the Games. They will not have arrest powers.

Distracted: An accomplice (left) then plays drunk so he can get close enough to the target to strike

 

Sleight of hand: The 'drunk' man jostles around with the BBC reporter, making it harder for him to notice what is going on

 

 

Rich pickings: The sneering thief walks away with the wallet from the unsuspecting victim

Teamwork: The thief quickly hands the wallet to another member of the gang, who spirits it away

 

Mayor of London Boris Johnson said: ‘These Romanian officers will prove to be a huge asset in cracking down on certain criminal networks who are targeting tourists in central London.’

Official statistics released yesterday showed pickpocketing thefts rose 17 per cent in the past two years.

In 2011/12, a total of 625,000 people fell victim, the Crime Survey of England and Wales showed.

That is an increase of more than 102,000 since 2009/10.

The vast majority of the total are classified as ‘stealth thefts’, but in 83,000 cases the victims’ possessions were ‘snatched’.

Bankers face the prospect of jail as Serious Fraud Office launches criminal probe into interest-rate fixing at Barclays

Hearing: Former chief executive Bob Diamond left Barclays over the matter, before appearing before MPs this week

A criminal investigation has been launched into alleged rigging of the Libor rate within the banking industry, the Serious Fraud Office (SFO) confirmed today.

SFO director David Green QC formally accepted the Libor issue for investigation after Barclays was fined by the Financial Services Authority (FSA) last week for manipulating the key interbank lending rate which affects mortgages and loans.

The claims ultimately led to the resignation of Barclays boss Bob Diamond and have become the focal point of a fierce political debate over ethics in the banking sector.

The investigation could ultimately lead to criminal prosecutions and bankers facing charges in court.

The SFO's update came after it revealed earlier this week that it had been working closely with the FSA during its investigation and would consider the potential for criminal prosecutions.

The Government department, which is responsible for investigating and prosecuting serious and complex fraud, said on Monday the issues surrounding Libor were "complex" and that assessing the evidence would take time.

Under fire: Barclays former chairman Marcus Agius (right) with former CEO Bob Diamond (centre), and former chief executive John Varley (left)

As the SFO prepares its investigation, Labour leader Ed Miliband continued to push for an independent inquiry into the banking scandal despite MPs rejecting the demands.

The Labour leader said that while the party would cooperate with a parliamentary investigation, its remit was too "narrow" and a judge-led probe was still needed.

Mr Miliband also defended the conduct of Ed Balls after the shadow chancellor engaged in a bitter war of words with his opposite number George Osborne in the Commons.

 

 

Barclays boss Bob Diamond resigns

Barclays chief executive Bob Diamond has resigned with immediate effect. The move comes less than a week after the bank was fined a record amount for trying to manipulate inter-bank lending rates. Mr Diamond said he was stepping down because the external pressure on the bank risked "damaging the franchise". Chairman Marcus Agius, who said on Monday he was stepping down, will take over the running of Barclays until a replacement is found. "I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth," Mr Diamond said in a statement. He will still appear before MPs on the Treasury Committee to answer questions about the Libor affair on Wednesday. "I look forward to fulfilling my obligation to contribute to the Treasury Committee's enquiries related to the settlements that Barclays announced last week without my leadership in question," Mr Diamond said. Last week, regulators in the US and UK fined Barclays £290m ($450m) for attempting to rig Libor and Euribor, the interest rates at which banks lend to each other, which underpin trillions of pounds worth of financial transactions. Staff did this over a number of years, trying to raise them for profit and then, during the financial crisis, lowering them to hide the level to which Barclays was under financial stress. Prime Minister David Cameron has described the rigging of Libor rates as "a scandal". The Serious Fraud Office is also considering whether to bring criminal charges.