The Serious Fraud Office has warned it won’t be able to run as many white-collar criminal investigations and prosecutions over the next two years and is already struggling to cope with very large cases.
The fraud investigation agency made the remarks in answers to followup questions from Parliament’s justice select committee following its annual review last month.
In May, the Government reduced the SFO’s budget to $9.7 million for the June 2020 year, from $10.1m in 2019 and $10.1m the year before that. It was given $8.7m for the financial year 2015, meaning its budget has risen 15 per cent in four years, a period when the number of complaints it has received has doubled.
‘Enforcement 40’ for 2020
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