Serious Fraud Office Economic Crime 2025-11-13
2025-11-13
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The SFO has recovered over £550 million from criminals since April 2020, showing its effectiveness but also highlighting areas for expansion.
Since the SFO's first use of an unexplained wealth order to recover more than £1 million stolen from the public, how will the Solicitor General support efforts to expand the use of such orders to target criminals who have defrauded innocent victims?
On 9 September, the Serious Fraud Office secured £1.1 million from the sale of a Lake District house through its first use of an unexplained wealth order connected to the assets of the wife of convicted fraudster Timothy Schools. This innovative use of legislation showcases the SFO’s resolve to pursue criminal assets wherever they are hidden and explore new methods to recover funds for victims and the public purse.
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Assessment & feedback
The Solicitor General provided context on a specific case but did not directly commit to expanding the use of unexplained wealth orders.
Response accuracy
Q2
Partial Answer
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Context
Fraudsters exploit financial secrecy in territories with less stringent regulations, making it difficult for the SFO to secure prosecutions and recover funds.
Does the Solicitor General agree that providing the Serious Fraud Office access to more registers of beneficial overseas interests would empower them to secure more prosecutions for economic crime, recover dodged taxes for the Treasury, and allow investment in public services?
I am grateful for that question. The Serious Fraud Office is constantly looking at ways to clamp down on fraud and economic crime. For example, the SFO is committed to working more closely with French and Swiss partners through the international anti-corruption prosecutorial taskforce, to ensure that we are robustly tackling cross-border economic crime, and to protect our future prosperity as part of our plan for change.
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Assessment & feedback
The Solicitor General discussed collaboration with other countries but did not directly address expanding SFO's access to overseas registers.
Response accuracy