News & Analysis as of

Risk Assessment United Kingdom Corporate Crimes

Akin Gump Strauss Hauer & Feld LLP

Preparing Organisations for the New UK Failure to Prevent Fraud Offence

Fraud is the most common offence in the UK, amounting to 41% of all crime.  On 26 October 2023, the UK’s long-awaited Economic Crime and Corporate Transparency Act 20232  (the Act) received Royal Assent, setting out...more

A&O Shearman

Practical tips for large organisations to ensure reasonable procedures to prevent fraud are in place

A&O Shearman on

We distil key practical takeaways from the UK Government’s official guidance on the corporate criminal offence of failure to prevent fraud (the Guidance). Businesses and compliance teams will be working to review and...more

A&O Shearman

New UK guidance on failure to prevent fraud - what does it tell businesses about how the offence will apply?

A&O Shearman on

The UK Government has finally published its official guidance on the corporate criminal offence of failure to prevent fraud (the Guidance). The offence will come into force on 1 September 2025. By then, businesses that fall...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

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

Morrison & Foerster LLP

UK Government Publishes Guidance for Companies on the New Failure to Prevent Fraud Offence

Headlines - •The UK government has published its guidance on the new Failure to Prevent Fraud offence which will come into effect on 1 September 2025. •Similar to the UK Bribery Act, the provisions introduced by the Economic...more

WilmerHale

UK Criminal Enforcement Update - Spring 2024

WilmerHale on

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

Hogan Lovells

UK Government to Introduce Long-Anticipated “Failure to Prevent Fraud” Offence

Hogan Lovells on

On 11 April 2023, the UK Government announced the introduction of a new corporate “failure to prevent fraud” offence, which will be brought into legislation through the Economic Crime and Corporate Transparency Bill (the...more

BCLP

No Place Like Home: Heightened risks for companies due to Covid-19 and remote working arrangements

BCLP on

As the COVID-19 pandemic evolves so, too, does the threat of economic crime. Recent reports into fraud since the start of the pandemic highlight the extent of this threat but also confirm that the banking and finance industry...more

Womble Bond Dickinson

Businesses face unlimited fines for failure to prevent facilitation of tax evasion

Womble Bond Dickinson on

Introduction - As part of a global crackdown on tax evasion, the Criminal Finances Act 2017 (the Act) introduced a new offence. From 30 September 2017, an organisation commits a criminal offence if an employee or...more

Proskauer - Tax Talks

Failure to Prevent the Facilitation of Tax Evasion: New United Kingdom Corporate Criminal Offence

Proskauer - Tax Talks on

As mentioned in our July 2017 edition of UK Tax Round Up, the UK has enacted a new corporate criminal offence of failing to prevent the facilitation of tax evasion. The law comes into effect on 30th September 2017, and...more

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