Huw Irranca-Davies – 2016 Parliamentary Question to the Attorney General

The below Parliamentary question was asked by Huw Irranca-Davies on 2016-01-13.

To ask the Attorney General, pursuant to his contribution of 16 September 2015, Official Report, columns 384-5WH, on Alan Richards and Kashif Shabir: SFO, what the threshold is for an investigation by the Serious Fraud Office.

Robert Buckland

The Serious Fraud Office (SFO) takes on the most serious or complex fraud cases, including cases of bribery or corruption. In considering whether to take on an investigation, the Director of the SFO applies his Statement of Principle, which includes consideration of:

• whether the apparent criminality undermines UK PLC commercial or financial interests in general and in the City of London in particular,
• whether the actual or potential financial loss involved is high,
• whether actual or potential economic harm is significant,
• whether there is a significant public interest element, and
• whether there is new species of fraud

The SFO also pursues criminals for the financial benefit they have made from their crimes, and assists overseas jurisdictions with their investigations into serious and complex fraud, bribery and corruption cases.