Ministry of Justice
New plans to tackle corporate fraud
New proposals to crack down on ‘economic crimes’ such as fraud and money laundering are to be considered later this year.
The Ministry of Justice will consult on plans to extend the scope of the criminal offence of a corporate ‘failing to prevent’ beyond bribery and tax evasion to other economic crimes.
Police and other law enforcement agencies can struggle to prosecute corporations for money laundering, false accounting, and fraud under existing common laws.
The consultation will seek views and evidence to assess whether changes in the law could allow the courts to more effectively prosecute corporate economic crime.
Justice Minister Dominic Raab said:
The government is finding new ways to tackle economic crime and we are taking a rigorous and robust approach to corporations that fail to prevent bribery or allow the tax evasion on their behalf.
We now want to carefully consider whether the evidence justifies any further extension of this model to other areas of economic crime, so that large corporations are properly held to account.
The consultation, published this summer, will explore whether the ‘failure to prevent’ model should be extended to complement existing legal and regulatory frameworks.
The consultation follows the recent announcement by the Prime Minister to bring forward a criminal offence for corporations who fail to stop their staff facilitating tax evasion and two recent prosecutions for the offence of failure of a commercial organisation to prevent bribery on its behalf.
Latest News from
Ministry of Justice
Magistrate recruitment campaign launched24/01/2022 15:15:15
People from all walks of life are being urged to become magistrates in an unprecedented recruitment drive launched today.
Hundreds of solar panels installed as HMP Wayland goes green24/01/2022 10:15:00
Over 700 solar panels installed at HMP Wayland to cut carbon and save money for the taxpayer.
New plans to boost veterans employment launched19/01/2022 14:22:00
Veterans’ Strategy Action Plan launches, including more than 60 commitments to help veterans with employment and healthcare
Not so Blue Monday19/01/2022 10:15:00
Blog posted by: Stuart Thompson, 17 January 2022 – Categories: Brew Monday, Mental Health, Wellbeing.
Magistrates’ Courts given more power to tackle backlog18/01/2022 15:15:15
Magistrates are to have their sentencing powers increased in order to reduce pressure on the Crown Courts and speed up justice, it was confirmed today (18 January 2022).
Family mediation scheme to help thousands more parents17/01/2022 12:05:00
Thousands more separating parents will avoid stressful courtroom battles as the Government boosts its landmark family mediation scheme with an additional £1.3 million.
Recruitment drive to ensure offenders pay back for their crimes14/01/2022 15:15:15
Extra 500 staff to oversee 3 million more hours of Community Payback each year.
Video-witnessed wills legalisation extended12/01/2022 10:15:00
Extension gives vulnerable people peace of mind that their wills will be legally-recognised.