Comments on Drafts of the Corruption Watch Report: The Corporate Crime Gap: How the UK Lags Behind the US in Policing Corporate Financial Crime

Impact

Description of impact

The UK needs to update its corporate liability regime to make it easier for prosecutors to get convictions, and review its regulatory penalty regime. Feeds into the corporate liability reform, which is essential to ensure that companies can be found criminally liable for wrongdoing and regulatory penalties must be reviewed to ensure they provide real incentive for companies to operate on the right side of the law

Who is affected

UK, businesses, compliance professionals

Narrative

The UK has a serious problem holding its companies to account. If you’re a big multinational company and you’re caught engaging in serious economic crime such as financial fraud or money laundering in the UK, there’s a very good chance that you won’t be found criminally liable. If you’re unlucky, you might be let off with a relatively small fine.
Impact statusClosed
Impact dateMar 2019