Richard Lissack KC and Robin Lööf have written an article in the June issue of Butterworths Journal of International Banking and Financial Law analysing the amendments to the Economic Crime and Corporate Transparency Bill (ECCTB) which, if adopted, would add a new offence of “failure to prevent fraud” by large legal entities to the UK statute book. They examine the proposed new offence, its background and context, main features and policy justification. Using the experience of over a decade of the existing failure to prevent bribery regime, they then consider the likely impact of the new failure to prevent fraud offence on business.
Please see here for the full piece.
*This piece first appeared in the June issue of Butterworths Journal of International Banking and Financial Law.