Serious Fraud Office Prosecutions for Fraud and Bribery 2023-02-01
2023-02-01
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Questions & Answers
Q1
Direct Answer
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Context
The question stems from ongoing concerns about the prosecution of corporate fraud and bribery. The Serious Fraud Office's recent successful case against Glencore Energy UK Ltd for £280 million highlights the need for continued support.
What steps she is taking to help the Serious Fraud Office investigate and prosecute fraud and bribery, given that a company recently paid the highest ever amount in a corporate criminal conviction?
Mr Speaker, you may remember that the SFO successfully prosecuted Glencore Energy UK Ltd and that the total amount the company will pay—£280 million—is the highest ever ordered in a corporate criminal conviction in the United Kingdom. We continue to work closely with the SFO to identify any policy changes that could support its ambitions.
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Q2
Direct Answer
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Constituents are concerned about corporate criminality. The Government has proposed a new 'failure to prevent' offence and extended SFO pre-investigation powers in the upcoming bill.
My constituents want to see the Government crack down on corporate criminality. What measures are the Government considering in the Economic Crime and Corporate Transparency Bill to address corporate crime?
I am grateful to my hon. Friend for his interest. The Government recognise that the current law does not go far enough. That is why we have committed to addressing the need for a new “failure to prevent” offence in the Economic Crime and Corporate Transparency Bill. In addition, we are introducing a provision to extend the SFO's pre-investigation powers.
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