The Failure to Prevent Fraud offence

Overview

Fraud has overtaken traditional crimes like theft and burglary to become the most commonly reported offence in the UK. With millions of cases reported each year, fraud poses a serious risk to individuals, businesses, and the wider economy. In response, laws are changing to hold companies more accountable for preventing such crimes.

Introduced under the Economic Crime and Corporate Transparency Act 2023, the Failure to Prevent Fraud offence makes organisations liable if they fail to prevent fraud committed by employees or agents for the organisation’s benefit and do not have reasonable fraud prevention procedures in place.

This e-learning course provides an overview of the Failure to Prevent Fraud offence, including its scope, organisational requirements, and expected implementation timeline. It also looks at some practical steps learners can take to help prevent fraud and ensure compliance.

Objectives

• Explain the Failure to Prevent Fraud offence and employee responsibilities
• Identify the various types of fraud
• Establish the meaning behind ‘Intention of Benefiting’
• Implement reasonable fraud prevention measures
• Explain liability and the penalties involved
• Determine reporting channels

Audience

This e-learning course is aimed at all employees and gives an insight of expectations and key requirements of fraud prevention.