ECCTA compliance series: Introduction to the Act
The Economic Crime and Corporate Transparency Act 2023 (ECCTA) marks one of the most significant shifts in corporate criminal liability in decades. On 26 December 2023, the Act introduced changes to the test for corporate criminal liability for all economic crime, significantly lowering the threshold for liability. A new Failure to Prevent Fraud offence goes live on 1 September 2025. The new criminal offence will affect both UK and international companies.
In November 2024, the UK Government issued formal statutory guidance to support organisations in meeting the reasonable fraud prevention procedures threshold under the ECCTA. This guidance outlines six key principles:
- Top level commitment
- Risk assessment
- Proportionate risk-based prevention measures
- Due diligence
- Communication (Including training)
- Monitoring and review
In this new video series, our experts will break down what these mean and demonstrate how each can be applied to establish effective fraud prevention frameworks.
Quinton Newcomb and Shiv Haria-Shah kick off the series in the following introductory video.
