SFO director outlines anti-corruption strategy

Graham McNulty, the Director of the Serious Fraud Office (SFO), has delivered a compelling address at the Global Anti-Corruption, Ethics and Compliance Conference in New York. His speech highlighted the SFO’s intentions to bolster its role as a proactive enforcer against corruption, while also serving as a reliable ally for responsible businesses.

McNulty outlined the SFO's commitment to three main objectives: working closely with responsible corporates, intensifying enforcement actions, and establishing a significant presence in the international justice system. “Corruption, fraud and illicit finance move seamlessly across jurisdictions and so must our response,” he stated, emphasising the importance of international cooperation. The Director’s speech also reflected on the SFO’s revised corporate cooperation guidance and the recent Deferred Prosecution Agreement (DPA) with Ultra Electronics.

The SFO aims to advocate for responsible businesses through its updated corporate cooperation guidance, which encourages self-reporting and collaboration with the agency. McNulty stressed the need for businesses to understand that cooperation with the SFO can lead to more favourable outcomes, saying “we have challenged ourselves as an organisation to make the strongest possible offer to responsible corporates.”

Through better intelligence capabilities and stronger international partnerships, including collaborations with the US Department of Justice, France, and Switzerland, the SFO is evolving into a more active enforcer. McNulty noted, “We are becoming more proactive and seeking to find wrongdoing ourselves” and highlighted the importance of whistleblowers as a vital source of information.

Reflecting on his extensive policing experience, McNulty remarked on the shared commitment to law enforcement between the UK and the US. He underscored that while the SFO faces substantial challenges, its efforts are making a genuine impact as it strives to be a more effective player in combating global corruption. Ultimately, he conveyed a message of optimism and ambition for the future of the SFO, stating, “Our job… is to prove them wrong” regarding the belief that misconduct goes unchecked.