More Action to fight fraud, Bribery and other economic crime
Businesses who commit fraud, money laundering and bribery will be subject to stricter scrutiny under new Home Office plans. The government has collaborated with prosecutors, the Law Commission, and the private sector to introduce the biggest reform of the identification doctrine – legislation used to hold companies criminally liable for offences – in more than 50 years. Under the proposal, added to the Economic Crime and Corporate Transparency Bill today, senior managers will be brought within scope of who can be considered the ‘directing mind and will’ of a business. It means if they commit an economic crime, the company…