Anti-Financial Crime & Financial Crime Compliance
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Compliance, Financial Crime, Regulatory, UK

NEWS: UK’s SFO won’t prosecute firms that admit to fraud in major policy shift

Nick Ephgrave, director of the UK Serious Fraud Office.

By PAUL O’DONOGHUE, Senior Correspondent

THE UK’s Serious Fraud Office (SFO) will offer companies a deal to avoid prosecution if they report suspected financial crime in a major policy shift for the watchdog.

Director Nick Ephgrave will announce that firms coming forward can expect to negotiate a deferred prosecution agreement (DPA), except in “exceptional” cases. DPAs allow companies to avoid criminal charges by paying financial penalties.

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