It was reported that Attorney General is investigating Serious Fraud Office (SFO). SFO was criticised for dropping several high-profile cases. The Attorney General’s office issued a statement that the investigation was not about whether the SFO should be broken up but about how the SFO decides which cases to prosecute.
Last year British Home Secretary Theresa May wanted to break up the SFO, but her plan was defeated at the last minute after protests by the press and compliance community. According to her plan SFO’s prosecuting function was to be taken over by the Crown Prosecution Service and its investigating function to be handed over to the National Crime Agency.
The government has cut the SFO’s annual budget by a third to £34 million and many senior officers have left SFO to join other organisations.
