Serious Fraud Office Names Graham McNulty as Interim Director

The UK Serious Fraud Office has appointed Graham McNulty as its interim director, with the former senior police officer set to take charge of the agency in early April.

McNulty will assume the role on 6 April, replacing Nick Ephgrave, who is retiring after two and a half years leading the country’s top agency for investigating and prosecuting serious and complex fraud, bribery and corruption cases. The appointment comes at a time when the SFO is seeking to strengthen its operational capacity and rebuild confidence following past criticism over failed prosecutions.

McNulty joined the Serious Fraud Office in September 2024 as chief operating officer. Since then, he has overseen the rollout of the organisation’s first dedicated case management system and supported the introduction of new technologies, including expanded use of artificial intelligence to improve disclosure processes and case handling.

In a statement, McNulty described the opportunity to lead the agency as a privilege and indicated he intends to build on recent reforms aimed at modernising the SFO’s operations. His background includes 31 years in policing, with senior roles focused on serious and organised crime, economic crime and major investigations.

His predecessor, Nick Ephgrave, was also a former senior police officer and the first non lawyer to head the SFO. When Ephgrave took over, the agency was under scrutiny following a series of abandoned prosecutions linked to disclosure failures. These cases had raised concerns about the SFO’s handling of complex evidence and internal procedures.

During his tenure, Ephgrave sought to reform the organisation’s approach by accelerating investigations, improving evidence management and developing specialist capabilities, including a crypto asset function to respond to the growing role of digital currencies in financial crime.

The Serious Fraud Office plays a central role in tackling high value and complex financial misconduct in the UK, including corporate fraud, international bribery and corruption cases that often span multiple jurisdictions. Its work is closely watched by investors, regulators and legal professionals, particularly as financial crime enforcement becomes more technologically sophisticated.

McNulty’s appointment comes amid wider efforts by UK authorities to strengthen economic crime enforcement, including enhanced powers for regulators and increased scrutiny of corporate governance standards. The government has placed greater emphasis on improving transparency, tackling money laundering and addressing emerging threats linked to digital assets.

An interim appointment suggests a permanent successor may be named later in the year. For now, McNulty will be tasked with maintaining operational momentum while steering the agency through ongoing investigations and reforms designed to ensure it can handle increasingly complex financial crime cases.