From 1 September 2025, the new ‘failure to prevent fraud’ offence will take effect, placing greater responsibility on large companies to ensure they have adequate procedures in place to deter and detect fraudulent activity.
The legislation is particularly relevant to the construction sector, which is considered to face a higher risk of fraud. Companies that fail to implement robust compliance procedures could find themselves exposed to significant legal and reputational consequences.
Our legal partners at Pinsent Masons have published a detailed article to help businesses understand the implications of the new offence and prepare effectively.