Sarkozy backs ‘financial Interpol’ plan

The European Union and leading economies should set up a “financial Interpol” to track down market abuse and fraud in response to the global financial turmoil, a French government report urged in September 2008. The proposal to set up a separate global body to co-ordinate investigations into financial crime is one of a series of recommendations. They are designed to accelerate the EU’s response to turmoil that originated in the US mortgage market before spreading across the financial system.