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.

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