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UK economic crime plan draws allegations of ‘policy capture’ from critics

A new UK plan to tackle economic crime would fail to hold companies sufficiently liable for illicit activity beyond bribery and tax evasion, anti-corruption campaigners told the Financial Times.

  • Shared by KYC360
  • July 15, 2019
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Under current laws, British firms can only be deemed guilty of other financial crimes if the “directing mind”—a senior manager empowered to implement a criminal scheme—is proven to be involved in, or have known of, the illicit activity. Nonprofit groups and others have campaigned for reforms that would make it possible to prosecute companies even when a “directing mind” can’t be explicitly tied to criminality.

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