Welcome to our second annual Serious Fraud Office (SFO) Enforcement publication. This year, we take a look at the SFO's investigations into individuals and corporates respectively for the 2021. We consider the SFO's shift in focus from bribery cases to fraud in the past year, their continued use of Deferred Prosecution Agreements and how the outcome of key cases has significantly impacted the credibility of the SFO. Looking ahead, we also outline what to expect from the SFO in 2022.