New guidance, issued in collaboration between The Serious Fraud Office (SFO) and the City of London Police, has been issued on where to report fraud allegations.

Katie Wheatley, head of our crime, fraud and regulatory team, explains that now fraud referrals – unless from companies or whistleblowers – must be made to Action Fraud, the number of fraud reports received by the SFO will be reduced. This will allow the SFO to focus on the most serious cases – those of serious corruption or bribery, of from whistleblowers or persons reporting on behalf of a company entity.

The SFO’s renewed focus on whistleblowers, cooperators and dawn raids is perhaps a reflection that the agency intends to improve its track record of securing convictions of individuals. There have been a string of acquittals in SFO cases, some attributable to very serious disclosure failings. The SFO has been given an extra UK£9.3m of funding to improve case management and evidence handling.

Read the full article on Fraud Intelligence here.

Katie advises individuals and organisations in a variety of complex criminal and financial regulatory investigations and proceedings. She represents clients in serious fraud, financial and business crime, including conspiracy to defraud, bribery and corruption, insider dealing and money laundering.