The partnership will see the bank invest £1.5m ($1.9m, €1.7m) in several projects over a three-year period.
It will deliver cross training for financial investigators with the intention of sharing best practices and expertise across both organisations.
In addition, a programme of secondments and exchanges between the City of London Police and Lloyds Banking Group will help investigators and analysts better understand criminal methodologies and banking practices and how this affects law enforcement.
Share expertise and knowledge
Alistair Sutherland, City of London Police’s assistant commissioner, said: “Developing partnerships to tackle fraud is a cornerstone of our overall approach. This is a fantastic opportunity to work closely with a highly regarded, international private sector partner and share our expertise and knowledge.
“We want to do everything we can to prevent economic crime from ruining lives and businesses, and this sponsorship agreement will help us to do exactly that.”
Brian Dilley, group director of fraud and financial crime prevention for Lloyds Banking Group, said: “By working collaboratively under a public- private partnership, Lloyds Banking Group and City of London Police will be more effective in reducing the harm caused to our communities by criminals.”