The Serious Fraud Office (SFO) is currently investigating suspected bribery and corruption at Thales Group, a multinational aerospace and defence electronics contractor. Thales Group is based in Paris and has a UK subsidiary with over 7,000 employees. The company is known for its various defence businesses, such as manufacturing missiles and launchers, providing sonar systems for the Royal Navy’s nuclear submarines, and designing aircraft carriers like the Queen Elizabeth-class.
Both the SFO and the French economic crime agency, Parquet National Financier (PNF), are conducting a joint investigation into Thales Group. This collaboration between agencies is crucial in fighting international corruption, as seen in the successful investigation into Airbus, where the aerospace company paid record penalties for bribery in 20 countries.
Thales Group has confirmed the investigation by the SFO and PNF into four of its entities in France and the UK. The company asserts that it complies with all national and international regulations and is cooperating with the authorities during the ongoing investigation.
Law enforcement officials conducted searches at Thales Group’s offices in France, Spain, and the Netherlands earlier this year. These searches are linked to separate corruption investigations, according to Reuters. Thales Group continues to emphasize its commitment to following regulations in all its operations.
In the UK, Thales Group’s defence business is thriving, with a significant portion of its revenue coming from defence contracts. The company’s missiles produced in Belfast have been used by the Ministry of Defence (MoD) to support fighters in Ukraine against Russian forces. Thales Group has also secured contracts to implement artificial intelligence and virtual reality technologies to enhance British warships and submarines’ operations.
In addition to defence contracts, Thales Group has government partnerships with the MoD and Home Office, along with involvement in satellite propulsion system design. The company’s acquisition of Gemalto in 2019, which is responsible for producing post-Brexit blue passports, further expands its portfolio.
Thales Group’s shares are listed on the Paris stock exchange, and the company is valued at over €31 billion. With its diverse range of defence and technology services, Thales Group continues to play a significant role in the aerospace and defence industry.