Serious Fraud Office ends De La Rue probe

The Serious Fraud Office has closed its investigation into De La Rue after almost a year in which the agency scrutinised the banknote printer's activities in South Sudan.

The SFO launched its inquiry in July 2019 into how De La Rue, which prints paper currency for the Bank of England, and associated people conducted business in the African country.

On Tuesday the SFO said: "Following extensive investigation and a thorough and detailed review of the available evidence, the SFO has concluded that this case did not meet the relevant test for prosecution as defined in the code for crown prosecutors."

De La Rue said it had "been informed by the Serious Fraud Office that the SFO has decided to discontinue its investigation into the group and its associated persons. De La Rue is pleased that the SFO has closed its investigation and that the SFO is taking no further action in respect of this matter."

The end of the investigation is a further piece of good news for De La Rue after the company reported a strong start to the year in early June and said the Covid-19 crisis only had a limited impact. After being plunged into crisis by a lost contract to produce the UK's post-Brexit passports in 2018 the company reported a series of major contract wins.