The Economic Crime and Corporate Transparency Act (ECCTA) of 2023 is a UK law that aims to improve corporate transparency and fight economic crime. The act includes new reporting and disclosure requirements, and a new corporate criminal offence for failing to prevent fraud. The Act comes into effect on 1 September 2025.
In this webinar Consultant, Bill Dixon and Solicitor, Sarah Lonergan, in our Dispute Resolution & Litigation team provide a concise overview which covers:
- The implications and risks for businesses
- Why smaller organisations can’t afford to ignore the new Act
- What will trigger liability?
- Can you be liable for the acts of third parties outside your organisation?
- Can you be liable for acts outside the UK?
- What you need to do now to prepare and to help build a defence in advance of September 2025.
The main takeaways from the webinar are the 6 action points:
1. Put someone in charge – The Government are expecting high level commitment, organisations should therefore lead from the top
2. Risk assessment – Carry out to identify where your organisation’s risks are
3. Anti-fraud policy – This can be a standalone policy or incorporated into existing policies
4. Additional policy review – An anti-fraud or fraud prevention policy on its own will not be sufficient – other policies should be reviewed and amended
5. Contract review – Ensure supplier contracts incorporate anti-fraud obligations
6. Training – Provide training to your organisation that are proportionate to the risks.
If you have any questions following the session which you did not get a chance to ask or if you would like further information about the ways in which we can assist with the 6 Action Points, please do not hesitate to get in touch with Bill Dixon at: [email protected] or Sarah Lonergan at [email protected].
The webinar concludes with a live question and answer session from the audience.
** Please note this is a recording of a live webinar **
The data contained in this presentation is for general information only and was recorded on 29th April 2025. The law and practice changes from time to time. This presentation is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from taking any action as a result of the contents of this presentation.
