Norfolk Police said the officer, a constable serving with the force, had been suspended from duty as a result of the arrest and the matter had been referred to the Independent Police Complaints Commission.
A spokesman said the officer was one of three people - a man and woman in their 30s and a second woman in her 50s - arrested in Norwich yesterday morning as part of an ongoing inquiry.
They were arrested for offences including fraud and money laundering.
All three have been released on bail pending further investigations.
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