Month: November 2024

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

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 may be held criminally liable if they did not have ‘reasonable prevention procedures’ in place when a fraudulent act was […]

Tom Epps/ Andrew Love / Ben Sharrock-Mason / November 7, 2024

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Month: November 2024

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