What are the 5 key things you need to know?

Our previous blog on this topic (found here: Fraud: ‘failure to prevent fraud' offence - KPMG UK) set out the background to the new ‘failure to prevent fraud’ offence contained in the Economic Crime and Corporate Transparency Act 2023 (“ECCTA”). As a one-line recap, this is where an organisation can be prosecuted under the ECCTA (potentially resulting in a fine) if a fraud is committed by an associated person, for the organisation’s benefit, and the organisation did not have ‘reasonable procedures’ in place to prevent the fraud.

https://kpmg.com/uk/en/home/insights/2024/11/government-guidance-for-failure-to-prevent-fraud-offence.html