‘Antiquated’ fraud laws thwarting justice, says SFO director

Partner Bambos Tsiattalou comments in relation to the director of the SFO criticising the UK’s fraud laws, in The Law Society Gazette.

Bambos’ comments were published in The Law Society Gazette, 5 February 2020, and can be found here.

“The director of the Serious Fraud Office has criticised the UK’s ‘antiquated fraud laws’, claiming evidential standards are stuck in the 19th century and hinder convictions.

Lisa Osofsky called for an overhaul of legislation after the SFO secured the UK element of a £3bn deferred prosecution agreement (DPA) with Airbus over bribery allegations.

Speaking on the BBC’s Today programme, Osofsky said: ‘I wish we had some of the lower [evidential] standards for fraud because we have a very antiquated system… In fraud cases I’ve got to have the controlling mind of a company before I can get a corporate in the dock. That’s a standard from the 1800s, when Mom and Pop ran companies. That’s not at all reflective of today’s world.’

However the SFO has been criticised for its lack of convictions, as well as its shrinking case load. Bambos Tsiattalou, founding partner at criminal defence firm Stokoe Partnership Solicitors said: ‘Ms Osofsky’s outcry against so called antiquated laws sounds like a workman blaming their tools. Once again, the SFO has failed to secure convictions in its latest big ticket case.’”