By
Neil Hodge2023-07-10T18:25:00
A former assistant commissioner of London’s Metropolitan Police Service has been announced as the next director of the U.K. Serious Fraud Office (SFO).
Nick Ephgrave will succeed Lisa Osofsky at the end of September for an initial five-year term.
Hopes are high his time in office will prove better than Osofsky’s, whose controversial tenure saw her failure to secure the prosecutions of several large companies and their directors (e.g., Tesco, G4S) and follow established legal procedure, resulting in the collapse of key cases (e.g., Serco, Unaoil).
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The U.K.’s Serious Fraud Office said in a five-year strategic plan it’s “struggled to keep pace with demand” as ballooning casework shows no signs of slowing down.
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“Under my leadership, the SFO will be bolder, more pragmatic, more proactive,” said Nick Ephgrave in his first public speech as head of the U.K. Serious Fraud Office.
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The U.K. Serious Fraud Office launched a fraud investigation into AOG Technics over allegations the company supplied fake airplane engine parts to major airlines across the globe.
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Four U.S. citizens were arrested in California Wednesday in connection with a massive, $346 million international credit card fraud scheme based in Germany, in which compliance officers were allegedly complicit, according to the DOJ.
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Approximately $9 billion of potential shadow-banking flows tied to Iranian networks in 2024, according to a new analysis from FinCEN. The report highlights how illicit funds are making their way through financial institutions as they meet the requirements of the Bank Secrecy Act (BSA).
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Meta says it is no longer under investigation by the U.S. Consumer Financial Protection Bureau (CFPB), the latest instance of the agency scaling back enforcement under President Donald Trump.
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