Corporate criminal liability refers to how companies can be prosecuted for crime. Incentivising companies to comply with the law is key to deterring corruption and money-laundering. We advocate that both companies and the senior executives who oversee their activities need to face criminal investigation and sanction where egregious corporate wrongdoing occurs.
We assess how companies and senior executives are being held to account under the UK’s economic crime laws to ensure that the laws apply fairly. We also undertake in-depth research into how the corporate liability regime affects implementation of the UK’s anti-corruption laws.
The Serious Fraud Office (SFO) will not have to pick up the legal bill for former defendants in its collapsed London Mining case, after a judge yesterday rejected claims that the agency should pay up because of alleged misconduct in their handling of the probe.
Today the Serious Fraud Office (SFO) and Ultra Electronics Holdings Limited (Ultra Electronics) entered into a Deferred Prosecution Agreement (DPA), with the defence and security company paying almost £15 million to resolve a long-running bribery probe. This penalty includes a £10 million penalty plus £4.8 million to cover the SFO’s costs.
The UK has a serious accountability gap when it comes to senior executives. Those at the helm of large firms that engage in economic crime, financial wrongdoing or regulatory breaches...
Introduced in the wake of Russia’s full-scale invasion of Ukraine, which highlighted the UK’s role as a hub for illicit Russian money, the Economic Crime and Corporate Transparency Act (ECCTA)...
The House of Lords yesterday voted through three key amendments to the Economic Crime and Corporate Transparency Bill (ECCTB) at Report Stage. Spotlight on Corruption has long advocated the measures...
In the wake of Russia’s full-scale invasion of Ukraine, the Economic Crime and Corporate Transparency Bill is a crucial contribution to improving the UK’s armoury for tackling dirty money. However,...
Government amendment 84A to the Economic Crime and Corporate Transparency Bill introduces a new ‘failure to prevent fraud’ offence. This implements an important part of the Law Commission’s recommendations on...
The introduction of the failure to prevent fraud offence is a major milestone for the UK. If this offence had been in place at the time of the financial crisis,...
