SFO Clarifies Rules To Encourage Firms To Report Fraud
Law360, London (August 6, 2019, 5:38 PM BST) -- Britain's Serious Fraud Office set out guidance Tuesday to clarify the rules on self-reporting fraud and corruption as part of an effort to encourage more companies to come forward when they detect wrongdoing.
The agency said that the guidance — which tells companies and their lawyers what to expect when they report misconduct — was not "one-size-fits-all" and some items will be inapplicable or even undesirable in a particular case.
"The very nature of cooperation means that no checklist exists that can cover every case,” the document states. “Each case will turn on its own facts."
Companies that self-report are more...
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