Author: Azizur Rahman 11 April 2023
Aziz Rahman called moves to introduce an offence of failure to prevent fraud a potential game changer for the Serious Fraud Office.
Law360 asked Aziz for his thoughts on the UK government’s announcement that it is set to create a new offence that will make companies criminally liable for failing to prevent fraud by their employees.
Aziz Rahman emphasised that the new offence "looks set to be a game-changer’’ that businesses need to view as “a compliance alarm call’’.
He added: “It gives the SFO a new line of attack - and corporates have to ensure they do all they can to ensure they have an adequate defence."
Aziz explained that a failure by corporates to assess their internal compliance and fraud prevention procedures may mean they cannot rely on the reasonable measures defence that would be available to the offence, which could prove costly.
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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.