The proposed ‘failure to prevent fraud’ offence is intended to close loopholes in existing legislation, but does it go far enough?
In part 3 of a series on economic crime in the UK, Kate Bridgland, associate, Oliver Cooke, senior associate, & Richard Marshall, partner, at Penningtons Manches Cooper, look at the proposal and assess how it will work in practice.
Bridgland, Cooke & Marshall cover what the offence is likely to include, what is not included and why it is needed.
They write: ‘The new provisions are much narrower in scope than many have called for… That being said, this would still be a welcome development, should it come to fruition.’
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