Flagship 'court of cybercrime' to be set-up in London

Lord Chancellor David Gauke to announce new court covering fraud and cybercrime tonight

A specialist court to deal with the surge in cyber crime is to be set-up in London, the Lord Chancellor David Gauke will announce tonight. However, it won't be open for business before 2025.

The court, based on the site of Fleetbank House near Blackfriars, will also cover fraud and economic crimes, as well as hearing some business, property and civil cases.

Originally announced in October last year, the court has finally been given the go-ahead, Gauke will reveal at a speech at Mansion House this evening.

The court was developed via a partnership between the City of London Corporation and the judiciary. The purpose-built court will feature 18 modern courtrooms, replacing the civil court, Mayor's and City of London County Court, and City of London Magistrates' Court at the current Fleetbank House. It will also house a new City of London police station.

London already leads the way as the best place to do business and resolve disputes

"The flag of English law is flown in countries across the globe, and London already leads the way as the best place to do business and resolve disputes. This state-of-the-art court is a further message to the world that Britain both prizes business and stands ready to deal with the changing nature of 21st century crime," said Gauke in a statement today.

Part of the aim of the court is to cement English law and London as the biggest global destination for corporate arbitration, with English law frequently forming the basis for international trade deals, even for businesses without a presence in the UK.

London is home to more than 200 foreign law firms with UK offices, and the legal sector generated combined revenues of £31.5 billion in 2016. The top-100 law firms in the UK alone generated more than £22 billion in 2016-17.

However, it will be some time before the new court at Fleetbank House will be open to hear cases: Funding arrangements still have to be finalised and planning permission for the new building secured. The new building is expected to be completed in 2025.

"Our rule of law is one of the many reasons why London is the world's most innovative, dynamic, and international financial centre, and this new court will add to our many existing strengths.

"I'm particularly pleased that this court will have a focus on the legal issues of the future, such as fraud, economic crime, and cyber-crime," said Catherine McGuinness, policy chairwoman of the City of London Corporation.