Serious Fraud Office to be restructured

Serious Fraud Office to be restructured

A restructuring package announced today will help the Serious Fraud Office (SFO) position itself as the lead law enforcement agency for investigating and prosecuting serious and complex financial crime, Chief Executive Adam Feeley said.

The SFO announced the restructuring following a comprehensive review of the organisation.

“The SFO has set some challenging goals for the next three years, and having the right organisational structure and capability is the starting point for ensuring we can achieve this,” Mr Feeley said.

“This new structure will enable much greater inter-agency collaboration, a more flexible approach to major investigations with reliance on external resources where appropriate, and a faster, more responsive approach to investigations.

 “The decisions were taken after an extensive consultation process with staff and external stakeholders, and it has been particularly encouraging that staff submissions on the proposals were unanimously supportive of change.”

The changes are aimed at improving fraud detection, with improved intelligence and more self-initiated fraud inquiries.

Specialist investigations teams will be formed for corporate and markets fraud, and bribery, corruption and Police-linked cases.

The changes involve disestablishing three management positions and creating five new management positions. There will be no reduction in staff numbers.

Mr Feeley said the SFO would be recruiting additional legal, accounting and investigative staff to build the Office back up to its establishment numbers.

“It is important to maintain a strong and capable Serious Fraud Office in the fight against financial crime, and the additional recruitment will ensure there is ongoing capability in the organisation.”

For further information

Adam Feeley
Chief Executive
Serious Fraud Office
Phone 021 333 539