The Fraud Policy Unit within the Economic Crime Directorate Homeland Security Group have announced the below:<\/p>\n\n\n\n
The Economic Crime and Corporate Transparency Act 2023 introduces a new corporate criminal offence of failure to prevent fraud: Economic Crime and Corporate Transparency Act 2023 (legislation.gov.uk)<\/a> clauses 199-206 and Schedule 13.<\/p>\n\n\n\n This new offence will apply to companies that are incorporated and meet the criteria: (2 or 3 of the following: more than 250 employees; turnover of more than \u00a336m; assets of more than \u00a318m).<\/p>\n\n\n\n Government has published a factsheet: Factsheet: failure to prevent fraud offence – GOV.UK (www.gov.uk)<\/a> and is currently working on the guidance. In broad terms, the guidance is similar to that for the offences of failure to prevent bribery Bribery Act 2010 guidance – GOV.UK (www.gov.uk)<\/a> and failure to prevent the criminal facilitation of tax evasion: Corporate offences for failing to prevent criminal facilitation of tax evasion – GOV.UK (www.gov.uk)<\/a>.<\/p>\n\n\n\n Government anticipates publishing the guidance in the spring. The offence will come into effect when the guidance is published and the implementation period (expected to be 4-6 months) is complete.<\/p>\n\n\n\n To\u00a0<\/strong>stay up to date<\/strong><\/a>\u00a0with the\u00a0ever-changing digital landscape and security threats, sign up for our\u00a0free core membership<\/a><\/u><\/strong>.<\/p>\n\n\n\n The NEBRC is a Police led non-profit organisation that seeks to educate<\/a>, inform<\/a>, and support<\/a> businesses across the UK on how to protect their business online through good cyber security practices.<\/p>\n","protected":false},"excerpt":{"rendered":" The Fraud Policy Unit within the Economic Crime Directorate Homeland Security Group have announced the below: The Economic Crime and Corporate Transparency Act 2023 introduces…<\/p>\n","protected":false},"author":1,"featured_media":6751,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-6750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/posts\/6750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/comments?post=6750"}],"version-history":[{"count":0,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/posts\/6750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/media?parent=6750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/categories?post=6750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/tags?post=6750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}