News & Analysis as of

Criminal Liability Fraud United Kingdom

Seyfarth Shaw LLP

The False Claims Act Comes to Britain? Preparing for the ‘Failure to Prevent Fraud’ Offence

Seyfarth Shaw LLP on

In just a few months, the UK’s corporate criminal liability offence of Failure to Prevent Fraud (FTPF) comes into force. Modelled on the framework of the Failure to Prevent Bribery offence, FTPF imposes strict liability on...more

K&L Gates LLP

UK Offence of 'Failure to Prevent Fraud': D&O Insurance Can Help the Board to Mitigate Risk

K&L Gates LLP on

In 2023, the UK Government introduced the Economic Crime and Corporate Transparency Act (the Act) with the aim of reducing economic crime in the UK. The Act introduced a number of measures including a new offence of "failure...more

K&L Gates LLP

Guidance to Organisations on the Offence of Failure to Prevent Fraud

K&L Gates LLP on

On 6 November 2024, the government released its much-anticipated guidance on the offence of failure to prevent fraud (the Guidance), as introduced by the Economic Crime and Corporate Transparency Act 2023 (the Act)....more

WilmerHale

UK Government Publishes Guidance on New Failure to Prevent Fraud Offence

WilmerHale on

On 6 November 2024, the UK Government published the much-anticipated guidance on the new corporate offence of failure to prevent fraud (the “Guidance”). The failure to prevent fraud offence forms part of a huge shift in the...more

Alston & Bird

The Wait Is (Almost) Over: The UK’s “Failure to Prevent Fraud” Guidance Is Here, and the Offense Itself Is Not Far Behind

Alston & Bird on

Our White Collar, Government & Internal Investigations Team discusses the UK’s new guidance on the “failure to prevent fraud” offense. The guidance addresses the “failure to prevent fraud” offense created by the Economic...more

Mayer Brown

UK Corporate Criminal Liability: Guidance issued on New Failure to Prevent Fraud Offence

Mayer Brown on

INTRODUCTION - On 26 October 2023, the UK Economic Crime and Corporate Transparency Act 2023 (the "Act") received royal assent and became law. The Act introduces a new strict liability corporate criminal offence of failure...more

Cooley LLP

UK Publishes Guidance on Failure to Prevent Fraud: Companies Without “Reasonable Prevention Procedures” Could Be Held Criminally...

Cooley LLP on

On 6 November 2024, the UK government published guidance in respect of the failure to prevent fraud offence, which was introduced in the Economic Crime and Corporate Transparency Act 2023 (ECCTA).Under this offence, companies...more

BCLP

Confronting and Mitigating Against Corruption

BCLP on

Construction is a $1.7 trillion industry worldwide, contributing between 5 and 7 percent of GDP in most countries. However, it is also an industry that is highly vulnerable to corruption due to its inherent characteristics....more

Latham & Watkins LLP

Failure to Prevent Fraud: Corporates Face New Criminal Offence Amid Accountability Crackdown

Latham & Watkins LLP on

Enhanced SFO powers and promises of swifter action on economic crime underscore the importance of anti-fraud measures for corporates and M&A dealmakers. The UK government is cracking down on corporates turning a blind eye...more

Seyfarth Shaw LLP

UK Criminal Liability Alert: Safeguarding Companies Operating in the UK From the Actions of Their Employees

Seyfarth Shaw LLP on

New criminal laws in the UK will make companies more vulnerable to criminal prosecution for the acts of their employees and agents than ever before. The Economic Crime and Corporate Transparency Act 2023 (“ECCTA”) introduces...more

WilmerHale

UK Criminal Enforcement Update - Spring 2024

WilmerHale on

Recent weeks have seen several notable developments in the UK criminal enforcement landscape...more

Mayer Brown

UK corporate criminal liability: changes so far and changes coming – have you prepared?

Mayer Brown on

On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 (the "Act" or "EECTA")  received royal assent and became law. The Act introduced a number of changes, some of which came into effect immediately and...more

Cooley LLP

Corporate Criminal Liability Reform: How Much Further Can the UK Go?

Cooley LLP on

The landscape for tackling corporate crime in the UK is undergoing significant change, with a focus on empowering enforcement agencies to further hold large corporates to account for the conduct of their employees and...more

Hogan Lovells

Reforming the legal test for Corporate Criminal Liability in England – a panacea or a placebo?

Hogan Lovells on

It’s certainly true that the UK criminal authorities have been crying out for a shot in the arm in the form of legislative reform, but will changing the law really help the Serious Fraud Office ("SFO") achieve more corporate...more

A&O Shearman

UK Criminal Justice Bill proposes further reforms to the identification doctrine

A&O Shearman on

The UK government is already proposing further expansion to the basis on which companies can be fixed with criminal liability. The Economic Crime and Corporate Transparency Act 2023 (ECCTA), passed in October, significantly...more

Katten Muchin Rosenman LLP

Fraud, Reform and the Registrar: Economic Crime and Corporate Transparency Act 2023

A year and a half after the Economic Crime (Transparency and Enforcement) Act 2022 received Royal Assent, the Economic Crime and Corporate Transparency Act 2023 (Act) came into law on 26 October 2023. Although the Act does...more

Faegre Drinker Biddle & Reath LLP

New UK ‘Failure to Prevent Fraud’ Offence in Outline

The Economic Crime and Corporate Transparency Act (ECCTA) received Royal Assent and became law on 26 October 2023. It contains a new ‘failure to prevent fraud’ offence whereby large organisations will be held criminally...more

Faegre Drinker Biddle & Reath LLP

Royal Assent for Economic Crime and Corporate Transparency Act 2023

On 26 October 2023, the Economic Crime and Corporate Transparency Act (ECCTA) received Royal Assent and became law. The ECCTA aims to tackle economic crime and improve corporate transparency through several reforms,...more

K&L Gates LLP

Why Corporates Are Now More Likely to Face Criminal Prosecution for the Actions of Their Employees

K&L Gates LLP on

Significant Expansion to Corporate Criminal Liability Becomes Law in the United Kingdom - On 26 October 2023, the Economic Crime and Corporate Transparency Act (the Act) became law. Under the Act, corporations will become...more

Orrick, Herrington & Sutcliffe LLP

The Economic Crime and Corporate Transparency Act 2023: What UK Businesses Need to Know

The Economic Crime and Corporate Transparency Act 2023 (the "Act") received Royal Assent on 26 October 2023, setting in motion significant changes to the UK's corporate transparency regime and a transformation process at the...more

White & Case LLP

Thoughts on the new Economic Crime and Corporate Transparency Act - A New Era for Corporate Criminal Liability in the UK

White & Case LLP on

The long-awaited Economic Crime and Corporate Transparency Act received Royal Assent on 26 October. This represents a significant turning point for the law on corporate criminal liability in the UK, and has been welcomed by...more

Jones Day

The Economic Crime and Corporate Transparency Act: A New Era for Corporate Prosecutions?

Jones Day on

The Situation: After a year of debate, the Economic Crime and Corporate Transparency Act (the "Act") was passed into law on 26 October 2023....more

BCLP

How Will Changes to Corporate Criminal Liability Impact the Banking Sector

BCLP on

The Economic Crime and Corporate Transparency Act was passed by Parliament on 26 October. The Act makes significant changes to the law of corporate criminal liability....more

WilmerHale

Radical reforms of UK corporate criminal liability receive Royal Assent

WilmerHale on

After a laborious passage through the United Kingdom Parliament, the Economic Crime and Corporate Transparency Act (the Act) received Royal Assent on 26 October 2023. The Director of the UK Serious Fraud Office (SFO) hailed...more

Morrison & Foerster LLP

Q&A: The Economic Crime and Corporate Transparency Act

Morrison & Foerster LLP on

Headlines- • The Economic Crime and Corporate Transparency Act (the “Act”) is part of a wide legislative package to prevent abuse of UK corporate structures and tackle economic crime and received Royal Assent on 26 October...more

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