The new corporate criminal offence of failure to prevent fraud (part of the Economic Crime and Corporate Transparency Act 2023) comes into force on 1st September 2025 in the UK.
This introduces a significant challenge that reaches into the organisation’s* governance, policy, guidance, risk assessment, training, due diligence, screening, and audits.
Relevant organisations in the UK must develop a proportionate response, as fraud committed by an employee, agent, or subsidiary could result in criminal sanctions.
We have collaborated with Gaon Hart, a senior lawyer and government advisor for financial crime, to develop a masterclass to support businesses preparing for this challenge.
A 3-hour virtual masterclass, led by Gaon will:
Act now and let us help you to interpret and comply with the guidance, ensuring you remain compliant and can demonstrate you’ve taken appropriate measures and put reasonable procedures in place.
* This applies only to ‘large organisations’ defined by employees (>250); turnover (>£36 million), or assets (>£18 million).
Course date: 5 March 2025 (09:30 -12:30 GMT)
ICA Members Fee: £350 + taxes
ICA Non Members Fee: £495 + taxes
'From 1st September 2025, if a member of your staff or a third party commits fraud benefiting your company, you could face multi-million-pound fines without 'reasonable procedures' in place to prevent it. Is your company ready? Attend this training urgently to learn what’s required and it will assist your company to have the right procedures, risk assessments, board-level support, policies, processes, technology, and control over your third parties. Most organisations have fraud prevention measures against external threats, but these must now extend significantly—and you have only 8 months left to comply!'
Interim Chair, NHS Counter Fraud Authority
This course is designed primarily for those in:
It will also benefit professionals who support policy and advisory functions, including:
Although the offence of failure to prevent fraud currently applies only to large organisations, this masterclass provides valuable best practice and guidance for smaller organisations looking to protect their business whilst remaining compliant with existing regulatory requirements.
