Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures
The Payments Association
FEBRUARY 10, 2025
The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-prevent fraud” offence, and outlines how businesses can mitigate fraud risks. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability. Why is it important?
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