Commons Sense

House of Commons · Ministers' Questions

Serious Fraud Office: Prosecutions for Fraud and Bribery

Wednesday 1 February 2023 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 2 Partly answered 0 Not answered 0

Key points

  • Serious Fraud Office successfully prosecuted Glencore Energy UK Ltd for paying the highest ever amount in a corporate criminal conviction in the UK, 280 million.
  • The Government recognize the need for stronger laws to address corporate crime and are considering a new "failure to prevent" offence in the Economic Crime and Corporate Transparency Bill.
  • Government aims to introduce measures in the Economic Crime and Corporate Transparency Bill to enhance the current legal framework for tackling corporate criminality.

Topics (select to filter)

Questions & Answers

Q1 Aaron Bell
Crime & Law Enforcement
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.

Question

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?

Answer from Michael Tomlinson

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 Aaron Bell
Crime & Law Enforcement Economy
Context

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.

Question

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?

Answer from Michael Tomlinson

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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