A new criminal offence directed at corporates, “failure to prevent fraud”, has been proposed by the UK Government. The measure is within the Economic Crime and Corporate Transparency Bill, which has almost completed its passage through Parliament. The Bill has broad bi-partisan support and is expected to become law before
Failure to prevent fraud: Corporate crime enters the C-Suite
10 min read
Many larger corporates in the UK will face criminal investigation and prosecution if fraud or other offences by employees benefit the company.
Corporate Manslaughter and Corporate Homicide Act 2007, Crime, Economic Crime and Corporate Transparency Act 2023, Fraud, Investigation, SFO, UK, UK Bribery Act 2010, UK Companies Act 2006 s993, UK Economic Crime and Corporate Transparency Bill, UK Fraud Act 2006 s11, UK Fraud Act 2006 s4, UK Fraud Act 2006 s9, UK Theft Act 1968 s17, UK Theft Act 1968 s19