Economic Crime

Do you own or are you an Officer, Director or Senior Manager of a large company?

If so, The Economic Crime and Corporate Transparency Act 2023 will have an impact on your business.

This new law has introduced a corporate criminal offence of failing to prevent fraud. You could be criminally liable as Directors and Senior Managers if you do not do everything you reasonably can to ensure employees and those associated with your business are not acting fraudulently.

Our Fraud risk assessment will guide you in identifying areas of fraud risk within your business operations and procedures – so you can address issues before it’s too late.

Designed by our expert economic and corporate crime lawyers with many years of experience representing organisations and individuals in criminal and regulatory proceedings, the risk assessment tool takes the user through a series of pathways, referencing relevant Government guidance at every key point in the process.

With extensive experience of both prosecuting and defending offences of financial crime, we are uniquely placed to know exactly what the “red flags” are that prosecuting agencies will focus on. The tool is designed to actively guide users through a process to review and validate their existing processes and recommend improvements where necessary when it comes to anti fraud practice. This gives directors and senior managers the confidence that existing anti fraud measures are robust and are being followed and any issues are being identified, reported and addressed.

The tool also acts as a guide for business owners and leaders to identify common internal and external fraud risks and to address them so that your business is less likely to be impacted by fraudulent activity. Fraud costs businesses over £200 Billion every year, not including the reputational damage.

Our aim is to help you remain compliant and avoid disruptive and costly criminal investigations and prosecution.

This stand-alone tool does not have to be integrated into any existing systems. It has been designed as a GDPR compliance system, storing almost no data.
Provide a process to follow — and lay an audit trail, by providing a copy of the report to the user for their records.
Produce reports that identify areas of risk so these can be addressed.
Prove you have put the correct processes and systems in place to identify issues.
Ensure that your senior management team are conducting thorough and effective checks.
Give your team the support they need to investigate and challenge alleged fraudulent activity.
Produce an audit trail that you can rely upon during any regulatory investigation.
Ensure that your management team have advanced warning of any issues developing.
Help your business and directors comply with economic criminal legislation.
Reduce your risk.

Find out more

Get in touch with one of our team today to book a free 15-30 minute assessment to provide you with a report to identify areas of risk. This may then be followed by a consultation with one of our economic and corporate lawyers to review the assessment report, for a one-off fixed fee payment.