SFO launches major UK fraud investigations

4 August 2009

The UK's Serious Fraud Office (SFO) is investigating three potentially major cases as part of an initiative to prevent financial crime occurring in the future.

According to the country's Times newspaper, the watchdog is examining Bernard Madoff's activities in the UK, the collapse of hedge fund Weathering Capital and the selling of financial products at bank AIG's London office as it looks to take a more proactive approach to stopping fraud.

"We are looking at places where failures have occurred in the past, but we want to use the information we get proactively to see what is going on now," a spokesman for the organisation remarked.

The SFO suggested it is willing to use covert surveillance in some cases, while it also intends to act if it spots the potential for future fraud.

Last month, it was announced that the SFO would conduct an investigation into car manufacturer MG Rover's failure.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development