- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-04-22T13:00:00
The U.K.’s Serious Fraud Office (SFO) said in a five-year strategic plan it’s “struggled to keep pace with demand” as ballooning casework shows no signs of slowing down.
The “SFO Strategy 2024-29,” published Thursday, outlined how the U.K. prosecutor will thwart financial crime, fraud, and corruption as it faces new challenges from the “increasing pace of change and technological innovation.”
“The SFO needs to be seen as a strong, dynamic, confident, and pragmatic organization,” Nick Ephgrave, SFO director, said in the strategy. “… [T]his means ensuring that SFO cases progress at a faster rate” and that the agency be a “partner of choice domestically and internationally.”
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The U.K. Serious Fraud Office last month published its five-year strategic plan outlining how it intends to improve information gathering and international cooperation, as well as its enforcement record.
The U.K. Serious Fraud Office announced two raids and three arrests coinciding with the launch of an investigation into collapsed property developer Carlauren Group.
When Nick Ephgrave of the Serious Fraud Office said in his maiden speech he favored paying whistleblowers in exchange for information, he might not have been fully aware of the implications, according to legal experts.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
