The Serious Fraud Office (SFO) is set to receive an additional £9.3m in funding as part of the government’s plan to crack down on fraud.
The Attorney General revealed today that the extra funding will be pumped into a new asset confiscation enforcement team and be used to help upgrade the SFO’s disclosure capabilities.
The money will also be used support improvements to SFO’s case management system.
Disclosure issues at the SFO are well-documented. In April, a report by HM Crown Prosecution Service Inspectorate stated that the SFO made progress in reforming how it manages evidence disclosure, but more government funding was needed to fix the problems.
The anti-fraud agency’s annual budget for 2024/25 was set at £83.8m and £88.9m for 2025/26.
Attorney General Lord Hermer KC stated that “this government is committed to cracking down on fraud and this additional funding will modernise SFO’s services, improve their disclosure practices, and build their capabilities to seize assets and make significant returns to the taxpayer”.
Nick Ephgrave, director of the SFO, added: “I welcome the continuing support for the SFO’s strategic ambitions, as we seek to deliver swifter justice for victims of complex economic crime.”
Separately, it was also announced that the Crown Prosecution Service (CPS) is set to receive £49m in extra funding to support victims of crime.
The funding will be for additional staff in CPS’s specialist Rape and Serious Sexual Offence units and further staff to support the ongoing victim transformation programme. The money forms part of the government’s pledge to halve violence against women and girls in the next decade, which was announced in the King’s Speech in July.
“Tackling crime, supporting victims, and strengthening public confidence in the criminal justice system are priorities for me as Solicitor General,” Solicitor General, Sarah Sackman, said.
