SFO to launch criminal investigation into Libor scandal

David Green, the head of the SFO, said on Friday he had “decided formally to accept the Libor matter for investigation”.

The FSA and US regulators fined Barclays £290m last week for attempting to manipulate the key rate as part of a wider investigation that includes a number of banks.

Libor is used to set the borrowing costs for millions of consumers, businesses and investors.

The Chancellor told Parliament last Thursday that the SFO was in talkswith the City financial regulator over the scandal.

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