Regulators In UK Crunch Down On Companies Guilty of Wrongdoing
UK regulators have significantly increased their investigation of companies found guilty of wrongdoing, with higher fines and more prison sentences.
Ernst & Young’s Investigations Index analyzed fines and criminal prosecutions against businesses and individuals. The Index showed that the average fine has increased from £10.8 million to £42.3 million over the last two years, an increase of 291 per cent. The total amount in fines has increased by 271 per cent over the same period, totalling £2.45 billion.
John Smart, head of EY’s UK Fraud Investigation & Dispute Services team, said UK regulators were getting tougher on financial crime.