The Serious Fraud Office (SFO) is an organisation under pressure. Pressure from MPs over the severance packages of former executives, pressure after its annual report this week revealed that it has taken on and won fewer trials, and pressure to redefine itself within a highly politicised arena where it is an easy scapegoat for any number of financial ills.
First, the Public Accounts Committee (PAC) on Wednesday published its 10th report in relation to the SFO’s redundancy and severance arrangements, finding that former director Richard Alderman had undermined the reputation of the SFO while he was director between 2008-2012.
