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Fraud: Fines and Prosecutions

Question for Attorney General

UIN 661, tabled on 11 May 2022

To ask the Attorney General, what the individual value of each (a) fine and (b) Deferred Prosecution Agreement issued by the Serious Fraud Office was in the last ten years.

Answered on

20 May 2022

The Serious Fraud Office (SFO) opened a total of 49 criminal cases from January 2016 until December 2021. Ten (10) cases were opened in 2016, eleven (11) cases were opened in 2017, ten (10) cases were opened in 2018, five (5) case were opened in 2019, eight (8) cases were opened in 2020, and five (5) cases were opened in 2021.

These numbers do not include cases that are related to the SFO’s Proceeds of Crime, International Assistance and/or Mutual Legal Assistance efforts.

The below table shows the fines issued by the SFO since 2016:

Date of Outcome

Monetary value of fine or financial penalty

January 2016

£1,136,799

February 2016

£1,400,000

June 2016

£6,375,000

October 2017

£20,000

October 2017

£20,000

October 2017

£20,000

January 2019

£5,000

January 2019

£20,000

January 2019

£15,000

June 2019

£850,000

November 2019

£15,000,000

January 2020

£800

April 2021

£7,521,920

October 2021

£47,197,640

The SFO does not hold data on fines issued prior to 2016. These results do not include costs awarded to the SFO nor any confiscation orders.

Deferred Prosecution Agreements (DPAs) were introduced on 24 February 2014, under the provisions of Schedule 17 of the Crime and Courts Act 2013. They are available to the Crown Prosecution Service and the Serious Fraud Office. Since 2014 the SFO has entered in to a total of 12 DPAs.

Date of Outcome

Currency

Total (Per DPA)

November 2015

US$

32,576,197

July 2016

GBP£

6,553,085

January 2017

GBP£

510,252,645

April 2017

GBP£

132,062,451

July 2019

GBP£

22,900,000

October 2019

GBP£

2,069,861

January 2020

EUR€

990,963,712

July 2020

GBP£

44,400,000

October 2020

GBP£

2,979,686

July 2021

GBP£

103,310,424

July 2021

GBP£

1,994,071

July 2021

GBP£

515,994

The above includes all financial amounts within each DPA, which could consist of:

  • Financial Penalty
  • Disgorgement of Profits
  • Compensation
  • Cost Awards to the SFO

Answered by

Attorney General