Serious Fraud Office (SFO) Director Graham McNulty outlined the agency's commitment to proactive enforcement, stronger corporate alliances, and international leadership in the fight against corruption at a New York conference on June 3, 2026.
McNulty emphasized the SFO's role as an ally to responsible businesses, highlighting the recently agreed Deferred Prosecution Agreement (DPA) with British defense supplier Ultra Electronics, which included a £10 million penalty and £4.8 million in investigation costs. He stressed that genuine cooperation is crucial, stating, "The SFO will walk away from negotiations and pursue a prosecution unless a company genuinely cooperates." The SFO's revised corporate cooperation guidance offers a near-guarantee of DPA negotiations for prompt self-reports and full cooperation, with commitments to swift engagement and resolution.
The Director detailed plans for more active enforcement, including a multi-million pound UK government investment in intelligence capabilities and increased use of surveillance. McNulty, drawing on his policing background, said, "Not self-reporting is a gamble and the odds are getting worse." He also advocated for a whistleblower incentivization scheme, noting that UK nationals are significant users of American programs, representing a "significant intelligence outflow from the UK." New powers from the Economic Crime and Corporate Transparency Act, such as the "failure to prevent fraud" offense and the "Senior Manager" test, further strengthen the SFO's ability to hold organizations accountable.
McNulty underscored the SFO's international leadership, citing strong relationships with partners like the US Department of Justice and the new anti-corruption prosecutorial taskforce with France and Switzerland. He highlighted the AOG Technics case, where international cooperation with Portuguese and French authorities led to a conviction for falsifying aircraft parts, grounding hundreds of planes globally. McNulty concluded by stating, "Corruption flourishes when people believe nobody is watching and nobody will act. Our job, working together, is to prove them wrong."