Revenue From SFO Cases To Compensate Bankruptcy Victims

Law360, London (November 19, 2020, 12:06 PM GMT) -- Britain's bankruptcy compensation program announced a partnership with the Serious Fraud Office on Thursday, which could allow it to use money brought in through prosecuting wrongdoers to help pay back people who have lost money.

The Financial Services Compensation Scheme said it has signed a memorandum of understanding with the white-collar crime agency, which will permit the organizations to cooperate on investigating and prosecuting cases of serious fraud.

"If FSCS is able to make a recovery through an SFO prosecution it may be able to pass on the proceeds to customers who have not been fully compensated," the program, which was...

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