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New “failure to prevent fraud” offence set to reshape corporate liability

A statue of the scales of justice stands above the Old Bailey on February 16, 2015 in London, England.
Photo: Dan Kitwood/Getty Images

Jean Hurley

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​The new UK fraud offence comes into force September 1 – we take a look at whether it will act as a deterrent and its extraterritorial scope.

A new corporate offence of “failure to prevent fraud” will come into force on September 1, 2025, marking a significant shift in the UK’s fight against economic crime. Introduced under the Economic Crime and Corporate Transparency Act 2023, the new law aims to hold large organizations criminally liable if they benefit from

​The

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