Failure to Prevent Fraud, Bribery & Tax Evasion - The Corporate Obligation Explained

Introduction

With fraud representing over 40% of reported crime in the UK, the government has used the Economic Crime and Corporate Transparency Act 2023 to introduce a raft of measures targeting financial offences.

The legislation includes a new corporate offence designed to hold companies responsible for fraud committed by its employees, contractors, and agents.

The criminal prosecution of Glencore Energy and the imposition of fines and financial penalties totalling £280m for failing to prevent the payment of bribes overseas signals a sea change in UK policy, making it vital that organisations understand the concept of ‘failure to prevent’ and adequately address the risks in their business.

This seminar will explore the concept of ‘failure to prevent’ (FTP) and the development of FTP legislation in relation to bribery, tax evasion, and most recently, economic crime.

It will detail who is captured by the legislation and how the offence applies to employees, contractors, and agents.

Most importantly, the seminar will explain what action organisations need to take to establish a statutory defence and avoid conviction and the significant associated financial penalties. Consideration will also be given to relevant prosecution cases and the lessons to be learned by businesses.

This is an interactive seminar during which expert speaker Laurence Howland will guide you through practical exercises and will apply these to real-life situations, making it ideal for compliance staff, finance directors, and corporate lawyers.

What You Will Learn

This course will cover the following:

• A brief overview of the history and development of the ‘failure to prevent’ (FTP) offences
• Legal persons and the ‘mens rea’ problem
• The concept of failure to prevent
• The Bribery Act offences
• The Criminal Finances Act tax evasion offences
• The new offence of failure to prevent fraud
• Government guidance and the ‘six guiding principles’
• Policies, controls, and procedures and establishing a statutory defence
• The history and development of the identification doctrine
• Enforcement and case studies
• Practical examples - how to apply the FTP concept in the real world