Bribery, fraud and anti-money-laundering | UK Regulatory Outlook May 2025

The Serious Fraud Office (SFO) has initiated a corporate prosecution against United Insurance Brokers Limited (UIBL), a UK insurance broker, for failing to prevent international bribery.

UIBL is accused of failing to prevent associates from bribing state officials in Ecuador between October 2013 and March 2016. It is alleged that UIBL’s US-based intermediaries paid bribes in exchange for contracts worth USD $38 million.

Should the case proceed to trial, it will be the first instance of a “failure to prevent bribery” case brought by the SFO being heard by a jury.

Nick Ephgrave, QPM, SFO director, has previously suggested that the office would pursue a more aggressive approach to corporate crime and fraud investigations. This prosecution illustrates that the office is currently undergoing a period of proactive enforcement.

A reminder that the SFO recently published new guidance on corporate co-operation and enforcement in relation to corporate criminal offending (see our Insight for further information). Businesses that may need to self-report should carefully consider and follow the guidance.