Skip to Primary Navigation

Skip to main content

Failure to prevent fraud to be a criminal offence in UK – will this be an effective deterrent?

The statue of Lady Justice holding the scales of justice in Bath, England.
Photo: Matt Cardy/Getty Images

Jean Hurley

2 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

The long-awaited Government Guidance is published – companies have until September 1, 2025 to implement “reasonable procedures”.

The UK Government’s guidance on the failure to prevent fraud offence, published on November 6th, 2024, outlines the new corporate criminal offence introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCTA).

The new offence will come into effect on September 1, 2025. Organizations therefore have nine months to review the Guidance

Who

, , , , , ,

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience