Remove Monetary Loss Remove Payments Trends Remove Regulatory Compliance
article thumbnail

Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

The issue of fraud is growing in the UK, with the average monetary loss per corporate fraud case being 21,433 in Q2 2023 , the highest among all fraud types. While the offence primarily applies to large UK companies and partnerships, smaller entities may also come under scrutiny depending on their activities.

Crime 88