Government preparing new Economic Crime and Corporate Transparency Bill

The UK government is preparing new provisions that would introduce a criminal corporate offence targeting commercial organisations for ‘failure to prevent’ fraud, money laundering and false accounting.

The amendments to the Economic Crime and Corporate Transparency Bill, which is currently making its way through parliament, aim to align with similar ‘failure to prevent’ offences for bribery and tax evasion. UK government security minister Tom Tugendhat confirmed in parliament in January that the government intends to include a corporate ‘failure to prevent’ offence in the Economic Crime and Corporate Transparency Bill that is currently being debated by the House of Commons.

The Bill defines...

Sophie Cameron
News Editor
Solicitors Journal

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