Patterns In UK Corruption Enforcement – Power Without Responsibility

Spotlight on Corruption, a UK-based anti-corruption charity, has published a review titled Power Without Responsibility. The Review raises concerns that the UK's top enforcement authorities are struggling to achieve successful and proportionate prosecutions of senior executives at large companies for financial crime offences. Some notable statistics from the Review include:

• In 20 corporate convictions / Deferred Prosecution Agreements with corporates, the Serious Fraud Office (SFO) has only successfully prosecuted two senior executives for their involvement in the matters under investigation.
• The Financial Conduct Authority (FCA) has issued 17 banks with fines amounting to £777 million for money laundering failures, but has only taken regulatory action against one individual in relation to these cases.