“This is not a ‘one and done’, this is a continuous process that companies are going to be expected to do.” Paul Duester, Associate General Counsel at the Serious Fraud Office.
Is your organisation prepared for Failure to Prevent Fraud?
A new offence is coming into force on 1 September 2025 which will hold large organisations to account if they are found to have benefited from fraud committed by a member of staff, without having ‘reasonable’ fraud prevention procedures in place.
The offence has been introduced under the Economic Crime and Corporate Transparency Act (ECCTA) 2023 and encourages business to clamp down on unlawful activity committed by their employees or associated persons, cutting off fraud at its source.
The SFO has played a key role informing the legislation and will now play its part prosecuting businesses which fail to take their new responsibilities seriously.
Hear our Associate General Counsel, Paul Duester talk on a panel on the Read More