Whistle-blowers could share fraudsters' assets

LONDON (Reuters) - Whistle-blowers could be rewarded with a share of any assets seized from fraudsters, the Home Office proposed on Thursday.

The measure is part of a package of plans put forward by the Asset Recovery Agency in an effort to boost the amount it confiscates from criminals.

Set up in 2003, the agency collected 23 million pounds in its first few years -- but at a cost of 65 million pounds.

Home Office Minister Vernon Coaker suggested members of the public who "shop" people or companies defrauding the government, such as benefits cheats or VAT-dodgers, should be offered a percentage of assets seized.

Other measures include removing the time limit for the seizure of assets, new powers to reclaim luxury items such as jewellery and plasma TVs, and extending powers to include the seizure of cash and other assets such as cars or boats believed either to have been used in crime or be the proceeds of crime.

The agency also plans to ensure that the recovery of assets is mainstreamed into the criminal sentencing process.

Coaker said: "Asset recovery is critical to the fight against all levels of crime and is one of the government's top priorities for law enforcement."

The agency been given a target of recovering 250 million pounds by 2009/2010 -- double this year's figure.

Coaker said the long-term aim was one billion pounds.