Letters: Never-ending tide of fraud
[RE: Fraud crackdown stalled by record court wait times]
I read with interest – but not surprise – that the value of fraud cases heard in courts has significantly risen in 2022, particularly in high-value fraud cases. I would add two points to your commentary.
Behind the rising trial numbers lie human stories, with victims often convinced to part with their life savings by fraudsters seeking to line their own pockets. These are not just statistics, they are a measure of how prosecutors like ourselves deliver justice to victims.
The rise in the value of the frauds is not just about volume and value. It is also about complexity. Increasingly, fraud not only spans multiple countries but also involves hidden offshore accounts or shell companies, emerging technologies and vast amounts of complex data – making it harder for law enforcement to investigate and prosecute.
This is what the SFO is here for. We are bringing eight cases to trial this financial year and we’ve already secured convictions in three of those cases, holding to account the criminals responsible for over £360m of fraud. We won’t give up the fight.
Lisa Osofsky, Director, Serious Fraud Office