Barclays investigated over possible fraud claims

The Serious Fraud Office (SFO) is conducting an investigation into the UK banking sector, focusing on the Libor rate-fixing scandal. The SFO, supported by the government, aims to identify individual accountability, particularly among traders, rather than targeting Barclays as a company, which has already been penalized. The SFO's powers are similar to the Criminal Prosecution Service, handling numerous cases annually, though legal constraints may limit criminal prosecutions. The investigation is sector-wide, but outcomes are uncertain due to existing legal frameworks.

What is the primary focus of the Serious Fraud Office's upcoming investigation?

• To increase the Libor rate

• To provide financial aid to banks

• To investigate the UK banking sector with government support

• To restructure the Financial Services Authority

How does the Serious Fraud Office's authority compare to the Criminal Prosecution Service?

• It has no authority

• It has more authority

• It has similar authority

• It has less authority

What has been the focus of the SFO's prosecutions so far?

• Prosecuting international banks

• Prosecuting government officials

• Prosecuting individuals

• Prosecuting companies

What is the scope of the SFO's investigation into the banking sector?

• Only international banks

• Only Barclays

• The entire banking sector

• Only small banks

What legal challenge might the SFO face in its investigation?

• Public opposition

• Insufficient evidence

• Inability to suggest criminal prosecutions

• Lack of government support