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22 September 2023 / Richard Marshall , Kate Bridgland , Oliver Cooke
Issue: 8041 / Categories: Features , Criminal , Fraud
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The UK financial crime regime: fit for purpose? (Pt 3)

138502
Rounding up their series on economic crime in the UK, Kate Bridgland, Oliver Cooke & Richard Marshall assess the potential of the proposed ‘failure to prevent fraud’ offence
  • The government is proposing a new ‘failure to prevent fraud’ offence for large organisations.
  • While the new provisions are narrower in scope than many have called for, it would nonetheless be a welcome development by increasing the protections available for consumers and businesses.

In answer, at least partially, to calls which have existed for some time, particularly since the implementation of the Bribery Act 2010 (BA 2010) and the Criminal Finances Act 2017 (CFA 2017), the government is drafting a new ‘failure to prevent fraud’ offence. Billed as a measure to close loopholes in the existing statutory legislation, some will question whether the move goes far enough to close said loopholes, while others are likely to argue it is a practical, realistic and welcome step. So which is it?

What is proposed?

While

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MOVERS & SHAKERS

Bellevue Law—Lianne Craig

Bellevue Law—Lianne Craig

Workplace law firm expands commercial disputes team with senior consultant hire

EIP—Rob Barker

EIP—Rob Barker

IP firm promotes patent attorney to partner

Muckle LLP—Ryan Butler

Muckle LLP—Ryan Butler

Banking and restructuring team bolstered by insolvency specialist

NEWS
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’
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
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
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
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
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