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Criminal Investigations Serious Fraud Office (SFO)

Alston & Bird

The Wait Is (Almost) Over: The UK’s “Failure to Prevent Fraud” Guidance Is Here, and the Offense Itself Is Not Far Behind

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Our White Collar, Government & Internal Investigations Team discusses the UK’s new guidance on the “failure to prevent fraud” offense. The guidance addresses the “failure to prevent fraud” offense created by the Economic...more

WilmerHale

Nick Ephgrave’s First Year as SFO Director

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Nick Ephgrave QPM, the Director of the Serious Fraud Office (“SFO”), recently marked the end of his first year in office. Ephgrave has brought a renewed energy, sense of purpose and proactive approach to the SFO, opening six...more

Mayer Brown

Disclosure and the SFO: is the current regime fit for purpose?

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Summary - The UK Serious Fraud Office ("SFO") has had significant problems with disclosure in its complex criminal investigations. The question has to be asked: is the current disclosure regime in criminal cases fit for...more

WilmerHale

UK Criminal Enforcement Update - Spring 2024

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Recent weeks have seen several notable developments in the UK criminal enforcement landscape...more

Cohen & Gresser LLP

UK Options for Whistleblower Financial Incentive Programmes in Economic Crime Investigations

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On 13th February 2024, in a wide-ranging speech, the Director of the UK Serious Fraud Office (SFO), Nick Ephgrave, publicly stated his provisional support for financial incentives to whistleblowers in allegations of...more

WilmerHale

‘One eye across the Atlantic’ - The UK SFO Director’s Maiden Speech and Recent Visits to the United States Underscore the...

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The Director of the UK Serious Fraud Office (SFO), Nick Ephgrave QPM, delivered his maiden public speech on February, 13, 2024, closely followed by visits to key financial centres in the United States to meet with...more

Latham & Watkins LLP

New SFO Director Sets Tone for Tenure

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Motivated by a “visceral reaction” to large-scale economic crime, Nick Ephgrave lays out vision for a bolder, more pragmatic, and more proactive agency. Whistleblowers, dawn raids, and cross-agency collaboration are all...more

Bracewell LLP

The ENRC Saga – Not Just a UK Concern

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On 21 December 2023, Mr Justice Waksman handed down his judgment in the second trial of the Eurasian Natural Resources Corporation (ENRC) saga. The judgment, along with its earlier companions, is extraordinary in many ways...more

WilmerHale

New SFO Pre-Investigation Powers Come into Force

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On 15 January 2024, legislation came into force that enhances the Serious Fraud Office’s (SFO) compulsory information-gathering powers and streamlines the investigative process whilst imposing fresh obligations on companies...more

Cooley LLP

A New DPA Sheriff in Town?

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On 5 December 2023, the Crown Prosecution Service (CPS) entered into a deferred prosecution agreement (DPA) with Entain, a global online sports betting and gaming business (owner of Ladbrokes and Coral bookmakers)...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for September 2022

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Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and case developments from the past month,...more

WilmerHale

Access points: how to respond to raids by UK investigating authorities

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Following recent media reports of raids conducted by the UK National Crime Agency (NCA) - including at domestic residences - as part of a Covid-linked fraud investigation, and visits by the UK Serious Fraud Office (SFO) to...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for December 2021

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption developments from the past month, with links to...more

McDermott Will & Emery

Key Takeaways | Cryptocurrency Global Tax Enforcement: What Investors and Companies in the Industry Need to Know NOW

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During a recent program discussing the latest government enforcement efforts related to cryptocurrency, we spoke with Gary Alford, one of the leading Internal Revenue Service (IRS) agents in their crypto enforcement efforts,...more

Hogan Lovells

Happy Birthday! Ten takeaways as we chart the tenth birthday of the UK Bribery Act

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On 1 July 2021, the UK Bribery Act (the Act) – one of the world’s global bribery and corruption benchmark laws – turns 10. It’s been an eventful 10 years: the Serious Fraud Office (SFO), the Act’s primary enforcement agency,...more

McDermott Will & Emery

[Webinar] Cryptocurrency Global Tax Enforcement: What Investors and Companies in the Industry Need to Know NOW - June 28th, 12:00...

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Following the US Internal Revenue Service’s (IRS) announcement of “Operation Hidden Treasure,” companies and individuals should prepare for increased scrutiny of virtual currency transactions. Unveiled in March, the operation...more

Jones Day

UK Supreme Court Limits Serious Fraud Office's Extraterritorial Powers

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The Issue: The UK Supreme Court was asked to decide whether section 2 of the Criminal Justice Act 1987 granted the Serious Fraud Office ("SFO") powers to compel the production of documents held outside the United Kingdom. ...more

Cadwalader, Wickersham & Taft LLP

The UK Serious Fraud Office’s Extraterritorial Powers Are Clarified

After three years of uncertainty over the Serious Fraud Office’s (“SFO”) powers to obtain documents  located overseas, the UK Supreme Court has clarified the extraterritorial effect of the legislation facilitating that power...more

White & Case LLP

KBR – no paradigm shift for the SFO. We look back at what is.

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Much has been made of the Supreme Court's decision earlier this month in KBR, Inc. v Director of the Serious Fraud Office, in which it confirmed the limits on UK authorities' reach overseas in anti-corruption investigations....more

Skadden, Arps, Slate, Meagher & Flom LLP

English Supreme Court Limits Serious Fraud Office’s Extraterritorial Reach

On 5 February 2021, the UK Supreme Court ruled that the Serious Fraud Office (SFO) could not force a foreign company to hand over material that it holds abroad through a notice issued under Section 2(3) of the Criminal...more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations, And Regulatory Enforcement - December 2020

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In our Quarterly Review, we bring you important UK developments relating to business crime, investigations, and regulatory enforcement from the last three months. Please contact us if you would like to discuss any of these...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Serious Fraud Office Issues Further Guidance on Deferred Prosecution Agreements

On 23 October 2020, the UK Serious Fraud Office (SFO) updated its Operational Handbook, publishing a new chapter on deferred prosecution agreements (DPAs) (the Chapter). This note summarizes key points from the Chapter and...more

Jones Day

The French Anti-Corruption Agency Publishes Its 2019 Annual Activity Report

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The French Anti-Corruption Agency ("FAA") report details key statistics relating to the controls the FAA carried out in 2019 and lessons to be drawn from this activity. On 9 July 2020, the FAA published its 2019 annual...more

Society of Corporate Compliance and Ethics...

Sanctions news: Russian group designated as global terrorists; British American Tobacco under investigation

Report on Supply Chain Compliance 3, no. 9 (April 30, 2020) - For the first time in history, the U.S. designated a white supremacist group as a terrorist organization. The group, based in Russia, fell afoul of Executive...more

Dechert LLP

COVID-19 Coronavirus Business Impact: Financial Crime and the CPS Interim Charging Protocol

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The criminal justice system in England and Wales, as in other nations, is severely impacted by Covid-19, and is under immense pressure.  This extends beyond the investigation and prosecution of criminal activity surrounding...more

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