Emily Thornberry promises to take action against corporate fraud if Labour wins the election
Labour has pledged to crackdown on corporate fraud if it wins next election. This will include making it easier for firms to be prosecuted for illegal conduct.
Shadow attorney general Emily Thornberry stated that “fraud” is the UK’s most common crime and called it “an epidemic the government has ignored or dismissed”.
The policy proposal would change the funding of the Serious Fraud Office (SFO), create a culture of convictions and repeal a law that required investigators to prove complicity in fraud in order for the company to be prosecuted.
Labour claimed that the law makes white collar crime more difficult to prosecute because of the “vast, complex management structures of multinational corporations today”.
Thornberry stated, “It’s high time to crack down on fraud. That must begin at the top.”
“Too many bosses of companies have stolen from their employees, undercut their competition and cheated public funds in recent years because fraud is hard to prove.
“The government has responded by waving the white flag at white collar criminals and allowing the Serious Fraud Office stop seeking corporate convictions.”
In 2021-22, fraud was 39% of all crimes recorded by the Crime Survey for England & Wales.