The Government is bringing in new legislation that will extend the existing 'failure to prevent' offences relating to bribery and tax evasion to a third offence of failure to prevent fraud by large corporations. The Economic Crime and Corporate Transparency Act will also extend the concept of the 'identification doctrine', meaning that criminal acts committed by a company officer may be attributed to the company itself more easily.
This two-hour course will introduce you to the concept of 'failure to prevent' (FTP) and explain the new FTP offences, the impact of recent changes to the law and what you must do to meet your legal responsibilities.
What will be covered?
- The concept of 'failure to prevent' offences
- Existing obligations under the Criminal Finances Act 2017 and the Bribery Act 2010
- The new offence of 'failure to prevent fraud'
- The history of the 'identification doctrine'
- The impact of the new 'identification doctrine' definition
- Managing your corporate responsibilities
The course will answer the following questions.
- What is 'failure to prevent'?
- What are the FTP offences?
- What is the significance of the 'identification doctrine'?
- What does the legislation say?
- What are my legal responsibilities and the penalties for getting it wrong?
- What are the responsibilities of a company director or senior manager?
- How do I train my staff effectively?
- What policies, controls and procedures do I need to introduce?
- What are the six guiding principles to financial crime risk management?
- What developments can I expect in the financial crime landscape in the next 24 months?
This course is ideal for company directors, managers and senior compliance officers. It is essential training for those with financial responsibility in large or regulated companies.
