MKS Law comments on new “failure to prevent fraud” offence
What’s the likely impact of the UK’s new “failure to prevent fraud” offence? Charles Bott KC and Tony McClements from MKS Law comment.
What’s the likely impact of the UK’s new “failure to prevent fraud” offence, which has just come into force?
Speaking to media outlet GRIP, our Head of Investigations Tony McClements said that “well-intentioned legislation and guidelines often lead to disparate and fragmented responses from organisations who are genuinely confused by the demands being placed upon them.”
He added that “fragmented responses are as dangerous as no response at all.”
Meanwhile, our Head of Advocacy Charles Bott KC said: “Serious fraud is out of control and any measures that will genuinely help to prevent it are welcome. There is plenty to like in the spirit and intention of this new offence.”
“But it will be difficult to prove and its scope is limited. The fear is that, like its sister offence in the Bribery Act, it will be rarely used and, as a consequence, its deterrent effect will be diminished.”
