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Preparing for the UK Failure to Prevent Fraud Offence
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We are pleased to present the premiere episode of “An Ounce of Prevention,” a podcast focused on compliance and white collar crime trends.In this inaugural episode, host Andrew Good is joined by Skadden colleagues Jonathan Benson and Jason Williamson to discuss the new U.K. failure to prevent fraud offence taking effect on September 1. The panel explores how this strict liability offence significantly expands corporate criminal liability for fraud committed by associated persons, making it easier to prosecute companies, particularly large organizations. They examine the offence’s extraterritorial reach, the crucial "reasonable procedures" defence and practical steps companies should take to prepare, including implementing appropriate anti-fraud policies and procedures aligned with government guidance focusing on top-level commitment, risk assessment and monitoring.
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“An Ounce of Prevention” is presented by Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.
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