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Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
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Niall Hearty considers the authorities’ ability to prosecute corporate offending

Author: Niall Hearty  21 April 2024

Claims that there is a lack of senior executive accountability for economic crime were assessed by Niall Hearty.

In his article, which was published by The European Financial Review, Niall details a report by Spotlight on Corruption that argues that agencies are struggling to bring prosecutions against senior executives in large firms, with directors from small and medium-sized enterprises (SMEs) more likely to be convicted.

Niall explains that the Economic Crime and Corporate Transparency Act, which came into effect last year, means that companies now face greater scrutiny, as well as unlimited fines regarding conduct that may previously have gone unpunished or been treated as a civil law matter. He cites the Act’s new offence of failure to prevent fraud, which now applies to larger companies and their subsidiaries, and its expansion of the reach of the identification doctrine as ways that may see more companies held to account for wrongdoing.

Niall also refers to the Serious Fraud Office which, he says, “appears to be on a mission to cover as much ground as possible’’ and is keen to use the Act. Although Niall outlines concerns that the Act may only be fully effective if more resources are made available to law enforcement.

The full article can be read here.

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Niall Hearty

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Niall has a wealth of corporate crime expertise and an ability to coordinate global bribery and corruption cases. His achievements in such investigations have made him a logical choice for corporate clients.

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