The Serious Fraud Office and other U.K. regulators have been ratcheting up the rhetoric about coming down hard on companies that commit bribery and corruption. But with puny enforcement budgets and still no major charges against any companies for violating the U.K. Bribery Act, some are wondering if it is mostly just talk.
One of the most critical challenges for U.K. enforcement agencies is the resources dedicated to the job. According to the SFO’s Annual Report and Accounts 2012-2013, its total spending for 2013 to 2014 will be less than £32 million ($55 million). That’s down from about £53 million ($90 million) in 2008 to 2009. Even so, SFO director David Green has maintained that he has sufficient funds to meet the agency’s needs.
