The UK government yesterday published its long-awaited guidance on the new failure to prevent fraud offence, just over a year after the Economic Crime and Corporate Transparency Act received royal assent.
The guidance:
- sets out key principles governing the offence and its defence and
- confirms that the offence will come into force from 1 September 2025.
The offence is a significant change to the existing law on economic crime prevention, and this affords businesses a key opportunity to ready themselves for the new changes and ensure smooth compliance.
We are in the process of arranging training and discussions on the new offence, the guidance, and what this may mean for you – please register here for updates.
