UK To Provide Compensation for Overseas Victims of Economic Crimes

The UK’s Serious Fraud Office (SFO), the Crown Prosecution Service (CPS) and the National Crime Agency (NCA) have released a joint statement in support of compensation for overseas victims of bribery, corruption, and other economic crimes. As set forth in the General Principles, which were published on 1 June, the UK enforcement agencies have committed to consider whether victim compensation is appropriate in “all relevant cases,” including those resolved by prosecution, a deferred prosecution agreement (DPA), or a civil settlement. Both aggrieved governments (and their instrumentalities) and corporates facing potential bribery-related inquiries should therefore be aware that the UK government will very likely at least consider victim compensation in any bribery resolution; however practical questions remain that will impact implementation.

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