Print Article

Failure to Prevent Economic Crime – One step closer?


Following six years of calls from parties interested in combatting economic crime, including the current Director of the Serious Fraud Office and her most recent predecessor, the House of Commons finally debated a proposed corporate offence of failure to prevent economic crime on Wednesday.

Fraud and money laundering continues to remain a serious global issue.

UK prosecutors have long argued that:

  1. Under the existing principles of corporate liability it is too difficult to hold a company to account where serious economic crime has taken place within the company, and
  2. Have advocated that the introduction of a ‘failure to prevent’ offence to address this issue.

The proposed offence was introduced in December 2020 as a late amendment to the Financial Services Bill. It was debated during the Bill’s Third Reading in the House of Commons on 13 January 2021.


The Team

Meet the team of industry experts behind Comsure

Find out more

Latest News

Keep up to date with the very latest news from Comsure

Find out more


View our latest imagery from our news and work

Find out more


Think we can help you and your business? Chat to us today

Get In Touch

News Disclaimer

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email