Rosalind Wright wants a tougher stance on fraud

Rosalind Wright speaking on the Today programme - Dur 4' 30"

Serious Fraud Chief Urges More Power for Judges

The SFO's annual report, published on Monday, argues that criminal judges should be given some of the same powers as City regulators.

Speaking on BBC Radio Mrs Wright defended the SFO's record and laid out some new proposals for making the SFO more effective. One of the issues she hopes to raise with the Government is the introduction of a new and simplified charge of fraud.

By streamlining the offence under which those suspected of fraud are charged, Mrs Wright said, the chances of presenting a "proper case to the jury" would be vastly increased.

New powers for judges could include the ability to suspend or close down firms that are suspected of being fraudulently run.

Mrs Wright's call comes as figures for investment fraud have risen sharply over the past 12 months. Criminals have increasingly been taking advantage of the buoyant economy to try to channel investors' savings into fraudulent schemes.

Such cases now make up half the SFO's caseload, with 42 suspected frauds on investors currently under investigation compared to 29 a year ago. Mrs Wright wants tougher action to be taken against the fraudsters involved with punitive fines and disqualification from soliciting or managing investments by the public.

She also believes that judges should look harder at the assets held by the families of convicted fraudsters when assessing their ability to pay. She was expected to commit the SFO to doing everything possible to ensure the victims of fraud are properly compensated by the perpetrator.