Welcome to our third annual Serious Fraud Office (SFO) Enforcement publication. This year, we take a look at the SFO's investigations into individuals and corporates respectively in 2022. We consider a number of topics in this review, including the SFO's focus on fraud cases in the past year, new SFO investigations and the outcome of the Altman and Calvert Smith reviews into the SFO. Looking ahead, we also outline what to expect from the SFO in 2023.