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ARTICLE · 16 SEPTEMBER 2016

Directors Do Not Have All-Seeing Eyes

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Last week the Attorney General, Jeremy Wright, confirmed that the Government intends to introduce a new criminal offence for corporations that ‘fail to prevent' economic crimes, such as false accounting and fraud.

United KingdomCriminal Law
Chris Hodge
Chris Hodge

Last week the Attorney General, Jeremy Wright, confirmed that the Government intends to introduce a new criminal offence for corporations that 'fail to prevent' economic crimes, such as false accounting and fraud.

This will be the latest in a series of 'failure to prevent' offences. The first, relating to bribery, has been law for a number of years; and a second, relating to tax evasion, is expected to become law early in 2017.

In his speech, the Attorney General identified two objectives of these offences: to 'encourage better governance within large companies' and to make it possible to 'bring corporate bodies to justice for the criminal acts of those who act on their behalf'.

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