According to the Office of National Statistics, fraud accounts for 40% of crime committed against individuals in England and Wales, making it the most common type of crime. If nothing is done, this figure is likely to increase.
The Serious Fraud Office (SFO) is responsible for addressing high-level fraud and related offences. However, notoriously lacking in financial and human resources, it but has come under a lot of flack in the past few years following several high-profile prosecutorial failures.
With a new director coming on board in September and a new five-year strategy published in April, this article by the Law Society Gazette asks whether the tide might be turning for the beleaguered agency. One new element that the strategy is looking at is the incentivisation of whistleblowers.
In the US, to encourage companies and individuals to admit wrongdoing, whistleblowers can receive financial compensation or be granted immunity. However, this is absent from the SFO’s plans.
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