In a recent article, Deloitte examines how the new "failure to prevent fraud" (FTP) offense in the UK may require a new approach to risk management.
The FTP was introduced by the Economic Crime and Corporate Transparency Act (ECCTA), which will take effect on September 1, 2025. This legislation presents a significant shift in corporate accountability by requiring organizations to implement "reasonable fraud prevention procedures." Under the new rules, companies will risk prosecution if fraud committed by employees or associates was intended to benefit the organization.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion
Sign in and be the first to comment.