Regulation

SFO boss Osofsky says new powers could help fraud squad go after ‘dirty’ bank insiders

'We’re concerned that the recipient of the Section 2 Notice may tip off the subjects of the information we seek, thereby jeopardising the covert status of the investigation,' Osofsky said

Thursday 8 October 2020 at 14:52

SFO boss Osofsky says new powers could help fraud squad go after ‘dirty’ bank insiders
Photo: Chris J. Ratcliffe/Getty Images

The head of the Serious Fraud Office Lisa Osofsky has called for a new offence to stop those receiving demands for evidence from the fraud squad “tipping-off” the suspect of the investigation.

The SFO has the power to compel companies or individuals to produce evidence about suspected fraud through the use of Section 2 notices.