Today I asked the Solicitor-General what steps he is taking to ensure that economic crime is effectively prosecuted.
Suzanne Webb MP
It is important that the Crown Prosecution Service and the Serious Fraud Office adapt to the ever more sophisticated techniques that criminals are using to commit fraud and evade prosecution. Can my hon. Friend share any examples where either the CPS or the SFO has sought to change its working practice to evolve with the changing nature of economic fraud?
Alex Chalk MP, Solicitor-General
The Government’s plans on tackling financial crime are outlined in the economic crime plan, which recognises the important roles played by both the Crown Prosecution Service and the Serious Fraud Office. In the year ending September 2021, the CPS prosecuted over 7,600 defendants where fraud and forgery were the principal offence, and the conviction rate was 84.9%. Over the last five years, the SFO has secured reparations for criminal behaviour from organisations that it has investigated, totalling over £1.3 billion.
My hon. Friend is absolutely right: the threat is evolving, which is why the Crown Prosecution Service has decided to merge its specialist fraud, organised crime, and international headquarter divisions into one new directorate—the serious economic, organised crime and international directorate. This will increase flexibility, enhance capacity, build resilience and ensure that learning is shared to improve expertise in tackling economic crime.
