Failure to prevent the facilitation of UK and foreign tax evasion have been implemented as new corporate offences under the Criminal Finances Act.

“Failure to prevent” economic crime at heart of Ministry of Justice consultation to reform corporate law.

Inadequate investment in compliance is now the biggest threat to a company’s bottom line. Simon Airey and Joshua Domb of law firm DLA Piper argue that time and resources devoted to compliance will pay dividends.

UK attorney general reveals that “failure to prevent” law is to expand beyond tax evasion to other offences such as money laundering, false accounting and fraud.