header-logo header-logo

Home Login E-newsletter About us
08 March 2024 / Tom Forster KC , Katie Bacon
Issue: 8062 / Categories: Features , Commercial , Fraud , Criminal
printer mail-detail

Corporate liability: a missed opportunity?

© Copyright LexisNexis 2026. All Rights Reserved.
162791
Does the Economic Crime and Corporate Transparency Act 2023 work hard enough to promote good corporate governance? Tom Forster KC and Katie Bacon discuss
  • An in-depth discussion of the Economic Crime and Corporate Transparency Act 2023, which extends the ambit of criminal liability for corporates, and imposes on large organisations a ‘failure to prevent’ fraud duty.
  • Sets out the background to the Act and discusses its scope, asking if it is performative law-making or a driver for real change.

Economic crime is prevalent in society today. According to the Office for National Statistics, fraud accounted for an estimated 60% of the main crime types experienced by adults in the year ending June 2023. The National Crime Agency’s assessment is that it is a realistic possibility that over £100bn is laundered every year through the UK or through UK corporate structures using money-laundering methods.

The government’s response, in part, has been the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023). It received Royal Assent on 26 October

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Read All
Cripps—Radius Law

Cripps—Radius Law

Commercial and technology practice boosted by team hire

Switalskis—Grimsby

Switalskis—Grimsby

Firm expands with new Grimsby office to serve North East Lincolnshire

Slater Heelis—Will Newman & Lucy Spilsbury

Slater Heelis—Will Newman & Lucy Spilsbury

Property team boosted by two solicitor appointments

NEWS
Read All
NLJ this week: Surrogacy children caught in succession gap
A High Court ruling involving the Longleat estate has exposed the fault line between modern family building and historic trust drafting. Writing in NLJ this week, Charlotte Coyle, director and family law expert at Freeths, examines Cator v Thynn [2026] EWHC 209 (Ch), where trustees sought approval to modernise trusts that retain pre-1970 definitions of ‘child’, ‘grandchild’ and ‘issue’
NLJ this week: Online safety law at a crossroads
Fresh proposals to criminalise ‘nudification’ apps, prioritise cyberflashing and non-consensual intimate images, and even ban under-16s from social media have reignited debate over whether the Online Safety Act 2023 (OSA 2023) is fit for purpose. Writing in NLJ this week, Alexander Brown, head of technology, media and telecommunications, and Alexandra Webster, managing associate, Simmons & Simmons, caution against reactive law-making that could undermine the Act’s ‘risk-based and outcomes-focused’ design
NLJ this week: Do Mandelson and Mountbatten-Windsor meet the misconduct bar?
Recent allegations surrounding Peter Mandelson and Andrew Mountbatten-Windsor have reignited scrutiny of the ancient common law offence of misconduct in public office. Writing in NLJ this week, Simon Parsons, teaching fellow at Bath Spa University, asks whether their conduct could clear a notoriously high legal hurdle
NLJ this week: Supreme Court unlocks ‘lost years’ windfall for injured children
A landmark ruling has reshaped child clinical negligence claims. Writing in NLJ this week, Jodi Newton, head of birth and paediatric negligence at Osbornes Law, explains how the Supreme Court in CCC v Sheffield Teaching Hospitals NHS Foundation Trust [2026] UKSC 5 has overturned Croke v Wiseman, ending the long-standing bar on children recovering ‘lost years’ earnings
NLJ this week: Finality trumps freedom in arbitration showdown
A Court of Appeal ruling has drawn a firm line under party autonomy in arbitration. Writing in NLJ this week, Masood Ahmed, associate professor at the University of Leicester, analyses Gluck v Endzweig [2026] EWCA Civ 145, where a clause allowing arbitrators to amend an award ‘at any time’ was held incompatible with the Arbitration Act 1996
Copyright © 2026 LexisNexis
back-to-top-scroll