With the rise of accountability in organizations, effective governance frameworks are essential to prevent legal pitfalls. The Serious Fraud Office spent an additional £1.25 million on counsel – a 17% increase – compared with last year, while bringing in £2.89m in proceeds of crime, its latest annual report reveals.

In the report, for the year to 31 March 2026, interim director Graham McNulty thanked his predecessor Nick Ephgrave ‘for nearly 40 years of public service’. Ephgrave joined the SFO in 2023 succeeding Lisa Osofksy but retired from the role halfway through his five-year tenure.