Market report: white-collar crime
New legislation increasing liability for senior management, coupled with a revitalised Serious Fraud Office, means that senior in-house lawyers need to be alert to fraud and white-collar crime issues now more than ever.
At the advent of 2024, in-house lawyers and general counsel are cautiously observing the ramifications of Nick Ephgrave’s new leadership at the UK Serious Fraud Office with bated breath. The organisation has faced intense scrutiny in recent years due to unsuccessful prosecutions and overall inactivity. Yet, with the appointment of the former senior Metropolitan Police chief, new challenges are expected to emerge for corporations and their in-house teams from a rejuvenated enforcement authority.
Considering the SFO’s extended section 2A pre-investigative powers and new leadership, ‘we are optimistic that the enforcement agency will initiate more investigations addressing both domestic and global complex fraud and corruption issues’, says Hannah Laming, Squire Patton Boggs’ European head of government investigations and white collar.
