The UK Government recently published guidance on the new criminal offence of 'failure to prevent fraud' introduced under the Economic Crime and Corporate Transparency Act 2023. The offence is due to come into force on 1 September 2025. Before then, large financial services organisations, like peers in other sectors, will need to consider how the new offence will impact their business. Although compliance with existing UK FCA regulation is likely to put financial services firms in a good position to avoid committing the new offence, they will still need to look at whether their existing measures are sufficient and make any changes needed to avoid facing criminal liability once the new offence comes into force.

In this webinar, experts from our Global Investigations team will look at:

• Key elements of the new offence and accompanying guidance;
• How the new offence compares with existing 'failure to prevent' offences in English law (particularly relating to bribery); and
• Some key areas of difference and emphasis between the new offence and existing FCA regulation concerning financial crime controls.