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 was the significance of Barclays in the context of the Libor rate fixing scandal?

What challenges might the Serious Fraud Office face in prosecuting individuals involved in the Libor scandal?