Navigating the UK’s new offence for failure to prevent fraud

Ann Đoàn and Claire Lipworth
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Ann Đoàn: Director of Financial Crime Consulting, Hogan Lovells International LLP, UK
Claire Lipworth: Partner, Hogan Lovells International LLP, UK

Journal of Financial Compliance, 2025, vol. 9, issue 1, 90-101

Abstract: On 6th November, 2024, the Home Office published guidance on the new corporate failure to prevent fraud offence, which was introduced by the Economic Crime and Corporate Transparency Act 2023. The guidance confirms that the new offence will come into effect on 1st September, 2025 and states that it will ‘make it easier to hold organisations to account for fraud committed by employees or other associated persons … [and] will also encourage more organisations to implement or improve prevention procedures, driving a major shift in corporate culture to help prevent fraud’. Companies need to carefully consider the guidance to ensure that they understand the extensive scope of the offence and the appropriate measures that need to be taken to protect themselves against corporate criminal liability. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.

Keywords: failure to prevent; corporate criminal liability; financial crime; fraud; mis-selling; market abuse; conduct (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2025
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