Failure to prevent fraud guidance published by the UK Government

On 6 November 2024, the UK Government published its guidance on the new "failure to prevent fraud" offence, as created by the Economic Crime and Corporate Transparency Act 2023 (ECCTA). The offence will make it easier to hold organisations to account for fraud committed by their employees or other associated persons, which are intended to benefit the organisation. The guidance provides an overview of the offence and sets out procedures that relevant bodies can put in place to prevent persons associated with them from committing fraud offences, ahead of the offence coming into effect in September 2025.