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Serious Fraud Office (Overseas Co-operation)

Volume 575: debated on Tuesday 11 February 2014

8. In what ways the Serious Fraud Office co-operates with prosecutors overseas; and if he will make a statement. (902541)

The Serious Fraud Office co-operates with prosecutors overseas during joint investigations, SFO investigations with which overseas prosecutors can assist, building capacity internationally, and executing requests for legal assistance when asked to do so by the Home Office.

Can the Attorney-General say what discussions he has had with America regarding the extradition of people who may be guilty of fixing the LIBOR? Progress is lacking in prosecuting people involved in LIBOR-fixing; does this increase the likelihood of their being extradited?

The Serious Fraud Office is in touch frequently with its United States counterparts in respect of investigations that have a transnational dimension. I will not talk about a specific case, but looking at the matter hypothetically, in such circumstances it will be decided in which jurisdiction a prosecution would best be brought. The hon. Gentleman will be aware that a LIBOR investigation is progressing in this country. There are also investigations in the United States. From what I know of the matter, I am satisfied that there will be good co-operation between the two jurisdictions to ensure that any alleged criminality is brought to justice.