Skip to Content

Company bosses may be held responsible for staff fraud.

Plans are being considered by ministers to hold company bosses liable if they fail to prevent a member of staff from committing fraud.

The measures, if passed, could have wide reaching implications for those potentially liable for corporate crime.

The new measures, yet to be unveiled, follow a crackdown on corporate crime and will follow on from proposals to make company boards liable for tax evasion.

The changes should form part of the new criminal finance bill, covering money-laundering, false accounting and fraud.

The changes are designed to give the authorities greater powers to prosecute those responsible, and act as a deterrent.

A spokes person said, 'it is important that companies take all precautions to ensure staffs do not commit fraud and if a company neglects this, then those responsible can be prosecuted'.

During the recent Libor fixing scandal many were held to account but it was only in America that employers were taken to court.

The Criminal Finance Bill 2016-17

The bill is designed to amend the Proceeds of Crime Act of 2002 and will-

- Legislate on terrorist's property/assets.
- Create corporate offences, in connection with fraud including tax evasion.

In October 2016 the Bill received its first reading in the House of Commons.

For details of its progress

http://services.parliament.uk/bills/2016-17/criminalfinances.html


Company bosses may be held responsible for staff fraud.
Image Description
related news
recent articles
Double Jeopardy Law

What is Double Jeopardy? and is it still Law in the UK?..

link

Double Jeopardy Law

What is Double Jeopardy? and is it still Law in the UK?..

Computer & IT Law

Computer and IT Law.
Computer Law is concerned with controlling and securing information stored on and transmitted between computers. Computer networks contain..

Making a Small Claim.

The small claims process covers disputes of £10,000 or less. There are a few exceptions in personal injury cases, or landlord and tenant disputes, but in genera..

What is a Section 60 notice?

Over 2000 section 60 notices have been issued in London last year..

link

What is a Section 60 notice?

Over 2000 section 60 notices have been issued in London last year, what are they and do they work?..

Social media in the work place

Social media in the work place - Staff using social media in the work place can become a problem, productivity and performance can be affected by the time spent..

Bankruptcy Guide

Bankruptcy Guide - Understand how you become bankrupt and what happens to you..

Stop and Search Laws to be changed?

Police Chiefs are calling for a change in the 'stop and search' l..

link

Employment Law Solicitors for Employers.

Employment Law Solicitors for Employers. If you're the employer of people, you want excellent solicitor's representation that giving expert advice...

Corporate Finance Law.

Corporate finance Solicitors will be able to assist with mergers and acquisitions, the buying of one company of another (M&A), and equity fundraising, or any ot..

Reporting a Crime.

If the crime is ongoing call 999, you should not put yours or anyone else’s safety at risk by taking action yourself...

Image Description
Is there anything wrong with this page? - any amendments will receive accreditation - email us

Solicitors.com are not a firm of solicitors, and any content on the site should not be used in substitute for obtaining Legal advice from a solicitor regulated in the UK, Solicitors.com recommends that you contact a firm of solicitors to discuss your individual legal requirement. Whilst we strive to bring you accurate up to date content, all content on this site is not legal advice and is not guaranteed to be correct. Use of this site does not create a client relationship.

Information by area of law
Back to top