UK Offence of 'Failure to Prevent Fraud': D&O Insurance Can Help the Board to Mitigate Risk
By EsqSocial Corporation 23/12/24
In 2023, the UK Government introduced the Economic Crime and Corporate Transparency Act (the Act) with the aim of reducing economic crime in the UK. The Act introduced a number of measures including a new offence of "failure to prevent fraud" whereby organisations may be held to account where a person associated with the organisation commits fraud with the intention of directly or indirectly benefitting the organization (the Offence)....
By: K&L Gates LLP