From 1 September 2025, the new failure to prevent fraud offence will come into effect under the Economic Crime and Corporate Transparency Act 2023 (ECCTA). Statutory guidance from the Home Office sets out the framework that large organisations should implement by September 2025, to ensure they have in place reasonable fraud prevention procedures.

In this three-part special of RPC's Taxing Matters podcast, RPC's Tom Jenkins, Of Counsel and Financial Crime specialist joins Alexis Armitage, RPC's Taxing Matters podcast host to discuss the new offence and its potential impact on businesses, and other developments relevant to the law of corporate criminal liability.

In the second episode of our series, Alexis and Tom dive into the new failure to prevent fraud offence, which comes into force in September 2025 under the Economic Crime and Corporate Transparency Act, and discuss:

• details of the new offence and who it will apply to
• which fraud offences are in scope
• an analysis of its effect on large organisations and smaller businesses
• jurisdictional scope, including risks for overseas companies
• the “reasonable procedures” defence and six key compliance principles
• what businesses should be doing now in readiness

Stay tuned for the final episode in our series as we look at what might be coming next in this fast-moving area of the law.

All information is correct at the time of recording. Taxing Matters is not a substitute for legal advice.

Hosted on Acast. See acast.com/privacy for more information.