By Maria Ward-Brennan The Serious Fraud Office (SFO) should be replaced with a new body dedicated to combating economic crime, a new paper by think tank Institute of Economic Affairs (IEA) has argued. The paper, which was focused on the UK anti-fraud agency, concluded that after “series of institutional failures” it should be replaced. According to the National Crime Agency (NCA), fraud is the most commonly experienced crime in the UK, accounting for over 40 per cent of crime in England and Wales. However, the IEA outlined that the number of fraud convictions has plummeted from 12,378 in 2012 …