UK government sets out new failure to prevent fraud offence

Large "bodies corporate and partnerships" will need to ensure they have "reasonable procedures" in place to prevent fraud committed for their benefit by an employee or agent, or potentially face an unlimited fine, under an amendment to the Economic Crime and Transparency Bill going through the UK Parliament.

Large "bodies corporate and partnerships" will need to ensure they have "reasonable procedures" in place to prevent fraud committed for their benefit by an employee or agent, or potentially face an unlimited fine, under an amendment to the Economic Crime and Transparency Bill going through the UK Parliament.