ECCTA 2023: Failure to prevent fraud offence guidance published

On 13 November 2024, our experts reviewed and discussed the newly released guidance on the new "failure to prevent fraud" offence introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCTA). We explored the implications of the new offence, which introduces corporate criminal liability for fraud offences committed by associates, significantly increasing the risk of criminal prosecution for large organisations that do not have reasonable anti-fraud procedures in place. Our team has closely reviewed the guidance and can help you understand the details and navigate its requirements.

We discussed:

• Key insights from the ECCTA guidance, including timelines and enforcement expectations
• Practical implications of the new offence, with real-world examples
• Strategies to develop “reasonable procedures” that prevent fraud and reduce organisational risk

Don’t miss this opportunity to stay informed and gain actionable insights for navigating the ECCTA requirements effectively.