§ John BarrettTo ask the Solicitor-General what plans she has for the expansion of the role of the Serious Fraud Office to cover corruption and money laundering. [75072]
§ The Solicitor-General[holding answer 22 October 2002]: The Director of the SFO is already entitled, under Section 1 (3) of the Criminal Justice Act 1987, to investigate any offence that appears to her on reasonable grounds to involve serious or complex fraud. Offences of corruption and money laundering are therefore already included in the range of offences open to the SFO to investigate provided they meet key criteria. Amongst others, these include where the sum at risk is estimated to be at least £1 million or the case is likely to give rise to national publicity and widespread public concern or the case has a significant international dimension. All or some of these factors can be present in an allegation of corruption or money laundering and if so then the SFO may investigate.
The SFO has, in fact, successfully investigated and prosecuted 10 cases involving offences of corruption and/or money laundering since its inception in 1988. These cases have led to prison sentences or suspended sentences for the defendants, often coupled with disqualification from acting as a company director. The SFO is also currently investigating several similar allegations.