Serious Fraud Office (UK)

The Serious Fraud Office is partnering with City of London Police to make it easier for victims to report fraud. This move aligns us with all 43 national police forces and the National Crime Agency (NCA), as the SFO will now accept fraud reports submitted through and triaged by ActionFraud. By consolidating fraud reporting into one national hub, the ActionFraud team can direct the right referrals to the appropriate agencies. Referrals meant for the SFO will still reach us as usual, but this integration will allow us, in collaboration with ActionFraud and other national police forces, to tackle fraud more effectively nationwide. Our Intelligence team’s resources can then be realigned to better support case teams, increase engagement with partner agencies and the private sector, and build relationships and strengthen intelligence sharing channels. The SFO will continue to handle corporate self-reporting, whistleblower reports, and cases involving corruption and bribery. For more information on this update and how to report fraud, visit: https://ow.ly/FQm350TUeQk

Serious Fraud Office Chief Investigator Michael Leo Gallagher underscores accountants’ role in combating economic crime at our ethics event: https://ow.ly/eFMN50U1zAT With new rules in the Economic Crime Act, companies face increased responsibility to prevent fraud risks. Serious Fraud Office (UK) #icaewDaily #fraud

City AM has published detail on how the new failure to prevent fraud offence from UK Home Office will affect our work.     I’ve set out that with this week's guidance, time is now running short for corporations to get their house in order, and so I urge those affected to review their new responsibilities and prepare to meet them.   The Serious Fraud Office is determined to act swiftly and send a strong signal to companies profiting from malpractice that such behaviour will not be tolerated.   With these new fraud enforcement powers, we have the opportunity to make a positive difference in the fight against fraud and better protect the public and our economy more widely.   The guidance is available to read here: https://ow.ly/BOhB50U26WW

Our multi-disciplinary approach to investigations means we bring together not just lawyers and investigators, but also accountants and digital forensics specialists to tackle the toughest cases.    Since the establishment of the SFO in 1988, our specialist accountants have been key in breaking down complex financial crimes, working hand-in-hand with our digital forensic specialists, other investigators and legal experts. We are committed to growing this pool of talent through recruitment and the SFO Accountancy Apprenticeship Programme.    Recently, our Chief Investigator Michael Leo Gallagher, who works closely with our Head of Forensic Accountancy, delivered the keynote address at the Institute of Chartered Accountants in England and Wales (ICAEW) Global Ethics Day, highlighting our vital role in combating fraud, bribery & corruption in the UK and across the globe in the support of financial integrity. Read more here: https://lnkd.in/ePrpuSN6

The new “failure to prevent fraud” offence shakes things up in the fight against fraud.     Today we welcome the UK Home Office's guidance on the new offence which tells companies what they need to do ahead of the new powers to tackle corporate fraud coming into force.     For the Serious Fraud Office, this offence means we have more power to hold large organisations to account if they fail to prevent fraud by their staff. It comes into force in September 2025.    The introduction of a failure to prevent bribery offence in 2011 was transformative in the fight against bribery, returning over £1 billion to the taxpayer via penalties, and pivotal to nine out of our 12 deferred prosecution agreements to date, as well as featuring in the convictions of major oil and commodities companies Glencore and Petrofac.  Read the guidance here: https://ow.ly/naRq50U1aPU

Many of our staff join us from organisations that pay more, but don’t offer the real-world experience that we do. We run criminal investigations into some of the world’s biggest companies – breaking into devices, conducting raids and recovering assets to do so. We also deliver some of the world’s biggest convictions and penalties. We need experts to deliver this work and recruiting can be a challenge in a competitive field, so we welcome His Majesty's Crown Prosecution Service Inspectorate (HMCPSI)'s recommendation of a long-term funding strategy for recruitment to the SFO. HCMPSI also point to our strong casework in this report. Read more here: https://lnkd.in/eTvgy-p3

Vacancy alert 📣  We are hiring for a Principal Intelligence Officer. This is a dynamic role, in which each day brings exciting challenges and meaningful work on some of the world’s most high-profile fraud, bribery and corruption cases. You will gather intelligence, assess information from sources and collaborate with our law enforcement partners to build comprehensive and reliable intelligence pictures. To find out more or to apply click the link here: https://ow.ly/woon50U07fL Principal Intelligence Officer James Bateman spoke about what motivates him in the role ⬇

In the last month, SFO colleagues have shared their expertise with operational partners and industry leaders both in the UK and across the globe. Throughout October, we highlighted our strategic priorities and latest successes in tackling complex fraud, bribery, and corruption. This included:  ➡Our Director Nicholas Ephgrave QPM and Chief Capability Officer Graham McNulty met with DOJ partners to strengthen collaboration on cross-border cases and deliver justice on both sides of the Atlantic.   ➡At the Corporate Enforcement Authority conference in Dublin, our interim Chief Operating Officer, Emma Luxton, delved into the complexity of our investigation processes, sharing insights on managing complex cases.   ➡ Our Director joined a roundtable with Parquet national financier (PNF), reflecting on shared goals and successes and reinforcing our commitment to combating serious economic crime.   ➡For the first time, we welcomed Lord Hanson, UK Home Office minister responsible for fraud, to our office, where he heard directly from our investigators and prosecutors about the latest successes we have achieved for victims on our cases.

It was a pleasure to speak on a panel with a distinguished group of experts at the annual GCFP conference - an excellent and energising event, with thanks to Public Sector Fraud Authority Mark Cheeseman OBE Serious Fraud Office (UK)

We’ve published our first ever strategic intelligence assessment. It provides an in-depth analysis of the key threats being faced by Companies House, and marks a major step forward as we step up our work to help disrupt economic crime. Find out more about the strategic intelligence assessment ⬇️ https://lnkd.in/eDi5bZvR