New criminal law for businesses
14 Sep 2016

According to Attorney General, Jeremy Wright, The Government will be undertaking discussions to determine how to make it easier to prosecute companies who cause corruption in the UK economy.

Speaking at the Cambridge International Symposium on Economic Crime earlier this month, Mr Wright said that the Prime Minister has prioritised economic opportunities meaning that businesses of any size should be held accountable for any failures they may make.

For years, prosecutors and corruption lobbyists have petitioned for the Government to widen the bribery laws in the UK to enable companies to be held accountable for economic crimes including fraud and money laundering. After discussions last year, the Government abandoned the change which was due to be implemented last September claiming there would be little evidence of corporate economic wrongdoing.

The decision was however, reversed earlier this year after David Cameron confirmed the discussion had been reopened following the Anti-Corruption Summit in London. Mr Wright’s comments indicate that discussions have been pushed forward by Theresa May after taking office in July following the Referendum result.

Mr Wright said “The Government will soon consult plans to extend the scope of criminal offence of corporation ‘failing to prevent’ offending beyond bribery to other economic crimes such as money laundering, false accounting and fraud.”