Tag Archives: fraud
Since its introduction, the Economic Crime and Corporate Transparency Act (ECCTA) has ushered in significant changes to corporate governance in the UK. Two of its most significant provisions are the failure to prevent fraud offence and the new identification doctrine which extends accountability for economic crimes to ‘senior managers’. These changes are likely to significantly impact…
The UK government has published its guidance on the implementation of the Economic Crime and Corporate Transparency Act 2023 (ECCTA) in relation to the offence of the failure to prevent fraud. As expected, the Home Office’s guidance is similar to that issued by the Ministry of Justice in relation to the UK Bribery Act 2010…
History teaches us that extraordinary global events such as the current Covid-19 pandemic can lead to an increase in fraud and other forms of corruption. Companies have rightly prioritised health and safety, business continuity and recovery programmes. This is quite distinct from previous economic crises when companies focussed heavily on cost reductions and revenue protection…
Coping with the Coronavirus will require enhanced vigilance by compliance teams. As boards and senior executives navigate the way forward with their focus on sustainability and financial resilience, compliance officers must ensure they stay at the forefront and visible. In a crisis situation there is a temptation to think that normal rules no longer apply….
