SFO promises 'proactive' approach to fighting fraud

12 May 2009

The UK's Serious Fraud Office (SFO) will take a more proactive approach to fighting fraud in the wake of the financial crisis by "getting out there and finding cases", its director has said.

Richard Alderman told a legal conference that the agency had "neglected" many of its powers to fight fraud in the past but was now evolving into an intelligence-led body that would target areas at heightened risk of fraud because of the economic downturn.

He added that the organization would also work in partnership with law enforcement and other anti-fraud units to disrupt wrongdoing as it happens.

Mr Alderman also said the organization would look at developing a number of new powers to improve its efficiency and effectiveness.

Established in 1988, the SFO currently has an 80 per cent conviction rate in cases it brings before the crown court, Money Marketing stated.

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