BUSINESS DESK: The Serious Fraud Office, responsible for complex fraud investigations and prosecutions, is seeking deeper ties with the police and the Financial Markets Authority in a bid to target white collar fraud more aggressively.
Chief executive Adam Feeley told Parliament’s law and order committee of plans to strengthen the SFO's relationship with the police, sharing skills and knowledge to combat criminal activity.
“We are looking to broaden the relationship,” Feeley said. “We have had a good relationship with them (the police) and with the FMA – to date that progress has been positive.”
Feely said the SFO is working alongside the FMA to foster greater investor confidence in targeting white collar crime.
“The rest of the world has gone through a double cycle of white collar criminal activity - we are going through the cycle again – we would like to start the discussion,” Feely said.
Out of the 46 investigations processed in the year ended June 30,y 21 cases related to suspected fraud, according to its annual report. The SFO had prosecuted a total of 28 cases as at June 30.
“We would like to be getting out more and finding cases,” Feely said. “You can stop crime earlier and financial crime is a reoccurring crime – if we can intervene earlier we can stop it before it happens.”