DOJ and SDNY Shift Focus from Traditional Financial Fraud to National Security, Public Funds — THE BRATTLE GROUP, INC.

Event summary

Prosecutions of traditional financial fraud by the DOJ and SDNY declined to 51 cases in 2025, the lowest in a decade, below the 10-year average of 73.
Enforcement priorities shifted away from FCPA and public corruption matters toward national security, public funds, and consumer protection.
Investment fraud cases rebounded modestly in 2025 after a decline in 2024, while corruption, banking fraud, and cryptocurrency-related cases saw significant declines.
Corporate enforcement trends mirrored broader prosecutorial shifts, with fewer traditional financial fraud resolutions and increased activity in healthcare-related areas.

The big picture

The structural shift in financial fraud prosecutions reflects broader policy and organizational changes within the DOJ, aligning enforcement activity with national and economic policy objectives. This reorientation suggests a long-term strategic pivot away from traditional market-based misconduct toward cases with higher public and national security implications. The decline in traditional financial fraud cases, coupled with the rise in healthcare-related enforcement, indicates a significant realignment of prosecutorial resources and investigative support.

What we're watching

Enforcement Realignment: How the DOJ's 'America First' enforcement priorities will shape future white-collar crime prosecutions.
Resource Allocation: Whether the DOJ can sustain increased focus on national security and public funds while maintaining traditional financial fraud enforcement.
Corporate Compliance: The pace at which corporations adapt to the shifting enforcement landscape, particularly in healthcare and investment fraud areas.