Author: Azizur Rahman 3 November 2023
The Times asked Aziz Rahman for his thoughts on the Economic Crime and Corporate Transparency Act.
With the Act having just passed into law, Aziz praised its creation of a criminal offence of failure to prevent fraud. This, he explained, will mean that large organisations can be held criminally liable if they benefit from a fraud committed by one of their employees. He stated that this could lead to an increase in deferred prosecution agreements.
Aziz said that lawyers and investigators are likely to welcome the new Act. But he added: “there are still serious questions about whether it will have a significant impact on efforts to counter economic crime without additional resources and funding being made available for law enforcement”.
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Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.