Legal Business

Fit for purpose? Critics round on SFO as forex charges are dropped

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The Serious Fraud Office (SFO) has been criticised for shutting down its investigation into alleged rigging in the foreign exchange (forex) market after it could not find sufficient evidence to prosecute.

Despite some of the world’s largest banks being fined billions for forex rate manipulation, the UK’s fraud watchdog dropped the probe in March without bringing any charges.