Serious Fraud Office


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Serious Fraud Office

an agency established by the Criminal Justice Act 1987 having a director and charged with instituting and conducting proceedings involving serious or complex fraud, which as a rule of thumb may be considered as those involving £1m or more. It may take over cases run by others. It was given much more sweeping powers to obtain information than had the police to obtain documents and other papers, including the ability to put questions which if unanswered constitute an offence. Its powers have since been adjusted to attempt to be HUMAN RIGHTS compliant and the answers to the compulsory questions may not be used at trial. It carries out some money laundering inquiries.
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The bank turned to Qatar for Au4 billion of investments, but the Serious Fraud Office alleges that Barclays did not properly disclose to the market Au322 million worth of side deals with Qatari investors.
In a short update to shareholders, De La Rue said: "The UK Serious Fraud Office has informed De La Rue that it has opened an investigation into the De La Rue group and its associated persons in relation to suspected corruption in the conduct of business in South Sudan.
Serco has also agreed to make an annual report to the Serious Fraud Office and Cabinet Office on its assurance programme.
"We have been co-operating with the Serious Fraud Office ("SFO") and British American Tobacco ("BAT") has been informed that the SFO has now opened a formal investigation.
The Serious Fraud Office probe follows claims relating to the sale to former racing driver Mr Chappell, who had no experience in retail.
He said: "At this stage, the real progress will come from two fronts - the Pensions Regulator or the Serious Fraud Office. And I also hope next week to meet the head of the Serious Fraud Office to look about the creation of Dominic Chappell as a serious figure, this triple bankruptee, money moving about.
As a bitter war of words between the two men escalated, Mr Field said he hoped to meet the head of the Serious Fraud Office and the Pensions Regulator this week to discuss the BHS affair.
The UK Serious Fraud Office (SFO) has sought the retrial of two former Barclays Plc (LSE: BARC) Libor traders.
A Serious Fraud Office probe began in 2012 and UK and US regulators fined Barclays PS290million.
The Serious Fraud Office launched an investigation into the activity of Luis Michael Training Ltd - a company claiming to provide young people with football-based apprenticeship schemes.
Meanwhile, Britain's Serious Fraud Office says it is assessing "material in its possession" relating to allegations of Fifa corruption.

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