Fraud Offence in Force – What have the lessons been?

The UK’s new Failure to Prevent Fraud offence introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCTA) came into force on 1 September and this session looks to share insights gained from supporting over 40 clients with their preparations to date.

This significant reform to corporate criminal law greatly increases the risk of corporate criminal liability for frauds which benefit the organisation or organisation’s clients. Businesses will be able to avail a defence to the offence if they can demonstrate they had reasonable procedures in place to prevent fraud.

In this short and insightful webinar, our experts - who have been supporting business across numerous sectors prepare for the offence - will discuss common questions they have received about the failure to prevent fraud offence, common themes, and the challenges faced as businesses conduct fraud risk assessments, introduce or revise policies and procedures, review senior manager levels, and roll-out training. They will also consider the future of fraud risk management and the steps organisations may wish to take going forward to monitor and review fraud prevention measures.