The annual report of the Serious Fraud Office for 1999/2000 is to be laid before Parliament today. SFO Director Rosalind Wright introduces the report in her letter to the Attorney General by saying that the SFO, now in its thirteenth year, has become a mature and established organisation constantly refining its techniques to respond to the many and varied challenges it faces. The main points in the report are:
1. The SFO has:
- an overall conviction rate standing at 68% over a twelve-year period.
- this year convicted eleven out of twelve defendants in some of the country's major fraud cases.
- currently 81 cases on board: a record level.
2. The increasing attrition in police resources devoted to fraud investigations means that some fraud is falling between the gap of the SFO's scope and the ability of the Police to deal with it (see editor's note 1 below).
3. The SFO is ready to meet any challenges in its cases under the Human Rights Act.
4. The SFO could play a key role in Eurojust, an initiative to promote fuller cross-border co-operation with integrated teams investigating trans-national fraud.
Commenting on the past year, Rosalind Wright said "We are seeing an increasing number of major fraud investigations and prosecutions. I am therefore very encouraged by the good news that the Chancellor has announced this week that we are to have a 20% increase in our funding for next year rising to 32% at the end of the three year period. This money will go towards more investigations, more prosecutions, more fraudsters brought to book more quickly."
Notes for editors
1. On 19 July the Attorney General announced that as part of the Government's spending review, the SFO is to receive an additional £13.8 million over the next three years. This is in recognition of its increased caseload and acknowledges the fact that it will have to take on more of the fraud investigation work from the Police.
2. To help you navigate the enclosed annual report quickly:
- Page 1. The letter from the Director to the Attorney General is a summary of progress and a pointer to the major issues facing the SFO.
- Page 4. The Review sets out the year's developments and issues in more detail.
- Page 14. This section about resources looks at how the SFO is geared up to deliver its objectives.
- Page 20. Key facts and figures are given about the SFO's cases and other aspects of the SFO delivery.
- Page 26. A summary of cases completed during the year and of cases where proceedings are still under way.
3. Contacts: Press Office Tel: 020 7239 7001/4
Public information Tel: 020 7239 7000
