As home secretary, May had hoped to abolish the SFO and hand its responsibilities to the National Crime Agency.
The plan was lambasted in May, with critics describing it as a “great danger” to how white-collar crime is tackled in the UK.
She failed, however, to secure a parliament majority after calling the snap election and, as a result, plans for the necessary legislation were dropped from the Queen’s Speech.
News that the government is on the hunt for a replacement for current SFO director David Green, after he steps down in April, confirm that plans to scrap the white-collar crime authority have been abandoned, reports newspaper The Telegraph.
Citing government sources, the newspaper reported that the search for a successor to Green is expected to begin in the next few weeks.
Serious Fraud
The SFO investigates both domestic and international fraud causes.
In May, it confirmed it was working with Spanish authorities to investigate the promoters of self-storage investment schemes that put £120m ($163m, €136m) of investors’ money at risk.
The authority opened a criminal investigation into an alleged fraud investment scheme involving Costa Rican forestry plantations marketed in the UK in March.
