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SFO DIRECTOR WARNS THAT BREXIT CANNOT BE ALLOWED TO HAMPER FINANCIAL CRIME PROSECUTIONS

24 January 2018

Serious Fraud Office Director David Green has insisted that Brexit should not mean a less robust pursuit of financial crime.

He has said that it is “absolutely crucial” that investigations into bribery and fraud continue after Brexit.

Mr Green said that he expected the SFO to continue to pursue increasing numbers of money laundering allegations against wealthy foreign nationals buying property and businesses in the UK. But he stressed that such investigations would require strong, post-Brexit working relationships with the SFO’s European counterparts.

He added: “I am sure enforcement will continue. But other aspects – such as extradition, arrest warrants and investigation orders – will depend on the sort of co-operation that is presently framed within EU regulations.

“I am sure all that will be dealt with because it is in everyone’s interest that some kind of structure like that is maintained.”

These are changing times for the SFO, with Brexit, the creation of the National Economic Crime Centre and Mr Green’s departure in April this year. But it is unlikely that there will be many changes to the workload of the SFO or the way it goes about this work.

This means that anyone facing investigation by the SFO will still have to know – or at least hire legal specialists who know – exactly how it functions and when and how to challenge it or negotiate with it.

Read our article: THE SERIOUS FRAUD OFFICE: WAYS TO DEAL WITH IT