Summary

In January 2017, the UK government launched a call for evidence to examine the case for reform of the law on corporate liability for economic crimes.

The consultation, which closes in late March, is designed to gather expert perspectives on criminal offences for crimes such as false accounting, money laundering and fraud committed or facilitated by companies. Currently, under the identification doctrine, prosecutors have to identify a ‘controlling mind’ in order to bring a criminal case against individuals within a company. In modern multinationals with thousands of employees, this can be practically impossible. The consultation is being run with a view to possible reform of the law to circumvent this issue.

Nicholas Ryder is Professor of Financial Crime at the University of the West of England and is a regular contributor to KYC360. He is the founder and series editor of Routledge’s ‘The Law Relating to Financial Crime Series’ and co-series editor for Palgrave’s ‘Risk, Crime and Society. His expertise spans banking regulation, consumer credit regulation and all aspects of financial crime.

Hannah Laming is a partner at Peters and Peters Solicitors LLP, specialising in financial crime. She has helped corporations devise compliance regimes in relation to the UK Bribery Act, global sanctions and, most recently, the prospective offence of failing to prevent tax evasion. She has also been involved in a number of cases where the issue of corporate liability, on the basis of the attribution principle, has been key and is closely familiar with the difficulties the concept poses to multi-nationals.

 

Learning outcomes:

  • Understand the UK government’s objectives and the implications for possible developments in law down the line
  • Gain insight into what corporate liability for economic crime would mean for companies, especially those in the financial sector

Especially relevant to:

  • Compliance officers in any sector
  • NGO / Policy professionals
  • Regulators
  • Legal professionals
  • Law enforcement

Sectors & regions:

  • UK
  • AML / CFT
  • Banking
  • Governmental
  • Due diligence & compliance

Nic Ryder

Guest presenter

Nic Ryder

Professor of Financial Crime at UWE

Hannah Laming

Guest presenter

Hannah Laming