SFO releases 2023-24 Annual Report
The Serious Fraud Office (SFO) has released its 2023-24 Annual Report, highlighting its ongoing commitment to disrupting and deterring serious fraud and corruption.
Despite a challenging and uncertain operating environment, the SFO has continued to maintain a high-performing culture, prioritising high-impact fraud and corruption cases that aim to protect New Zealand’s economic and financial wellbeing.
SFO Director Karen Chang praised staff for their adaptability, saying, “It’s a testament to our team's resilience that we’ve continued operating at a high level during this period of change."
Key achievements include the successful prioritisation of high-impact cases, targeting fraudulent behaviour by trusted professionals, and improving public awareness through outcomes of prosecutions.
The SFO also focused on enhancing fraud and corruption prevention efforts within the public sector through training and resource-sharing initiatives. These efforts have fostered a proactive approach across agencies, helping to enhance agencies’ detection and prevention capabilities.
Another major focus has been building stronger relationships with domestic and international partners to improve information sharing and coordination in combatting fraud and corruption. The SFO’s collaboration efforts with global partners have supported New Zealand’s efforts to disrupt cross-border financial crime.
Additionally, the SFO has invested in workforce and infrastructure development, ensuring the organisation is equipped to tackle the evolving nature of financial crime in New Zealand.
"Investing in our people and tools ensures that the SFO remains at the forefront of combating serious financial crime, and we're prepared for the challenges ahead," Ms Chang added.
As fraud continues to rise, particularly during periods of economic uncertainty, the SFO calls on all sectors to remain vigilant and to collaborate in efforts to maintain New Zealand’s strong reputation for low levels of fraud and corruption.
For more details, please refer to the full 2023-24 Annual Report [PDF, 7.3 MB].
About the SFO
The SFO is responsible for investigating and prosecuting serious or complex fraud, including bribery, and corruption in New Zealand. With a focus on maintaining integrity and trust in the financial system, the SFO has developed strategic areas of focus to ensure it has the greatest impact with the cases it takes in. These are reviewed and updated every 12-18 months.