When was the SFO formed?
The Serious Fraud Office (SFO) was established in April 1988. We have been responsible for the investigation and prosecution of some of the biggest frauds in British history. The SFO and its powers were created by the Criminal Justice Act 1987 (as amended).
The Roskill report
The 'Roskill Report' (Fraud Trials Committee Report) published in 1986, was the impetus for introducing the Criminal Justice Act 1987 and creating the SFO.
Its main recommendation was to set up a new organisation responsible for the detection, investigation and prosecution of serious fraud cases.
During the 1970s and early 1980s, there was considerable public dissatisfaction with the UK system for investigating and prosecuting serious and complex fraud.
The Government established the Fraud Trials Committee, an independent committee of inquiry, in 1983. Chaired by Lord Roskill, it considered the introduction of more effective means of fighting fraud through changes to the law and to criminal proceedings.