Employment & HR

Stricter legislation. In April 2023 the government introduced a new corporate offence of “failure to prevent fraud” into its Economic Crime and Corporate Transparency Bill (the Bill). This new legislation seeks to bring the law on corporate fraud in line with the law on corporate bribery which is governed by the Bribery Act 2010 . It will also make it much easier for the authorities to prosecute an employer if an employee commits fraud to its benefit. An employer will only be able to avoid prosecution if it had reasonable measures in place to deter employee fraud. If not, an unlimited fine can be imposed. Will this new legislation apply to every employer? ...