Headlines
UK fraud office encourages firms to self-report wrongdoing
Published by Global Banking & Finance Review®
Posted on April 23, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 23, 2025
1 min readLast updated: January 24, 2026
The UK's SFO urges firms to self-report wrongdoing to potentially avoid prosecution through Deferred Prosecution Agreements.
LONDON (Reuters) -Firms that self-report suspected wrongdoing to Britain's Serious Fraud Office (SFO) and co-operate with investigators will get a chance to avoid prosecution, according to guidance published by the SFO on Thursday.
The SFO, which has a remit covering complex financial crimes, fraud and corruption, said companies that flag potential breaches would be offered the chance to negotiate a Deferred Prosecution Agreement, except in exceptional circumstances.
Such agreements typically allow the accused to avoid prosecution unless they reoffend or violate other terms during the term of the agreement.
Prosecutors to suspend legal proceedings in exchange for the company agreeing to conditions such as fines, compensation payments and corporate compliance programmes.
"If you have knowledge of wrongdoing, the gamble of keeping this to yourself has never been riskier," said SFO Director Nick Ephgrave.
The guidance details what the SFO will consider to be genuine cooperation, including the preservation of digital and hard copy records and early engagement with authorities.
(Reporting by William James; Editing by Cynthia Osterman)
The article discusses the UK's SFO encouraging firms to self-report wrongdoing to avoid prosecution.
It is an agreement allowing firms to avoid prosecution by meeting certain conditions like fines and compliance programs.
By preserving records and engaging early with authorities, as per SFO guidance.
Explore more articles in the Headlines category
