Fraud panel criticises SFO plans

The Fraud Advisory Panel has slammed the break-up of the Serious Fraud Office (SFO). In a Treasury consultation submission it said the planned changes “would be a wholly unwise and dangerous move in our view that would benefit only the criminal and be an enormously retrograde step in the fight against financial crime.” Under government plans the SFO will be dismantled and its responsibilities split between the Crown Prosecution Service, which will charge cases, and the new National Crime Agency, which will be tasked with investigating alleged offences.