Kambiz Larizadeh Quoted in CDR on Introduction of ‘Failure to Prevent Fraud’ U.K. Offence
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For its article “UK government to introduce ‘failure to prevent fraud’ offence,” Commercial Dispute Resolution (CDR) has quoted Akin disputes & investigations partner Kambiz Larizadeh. The article reports on the new criminal offence to be incorporated into the U.K. Government’s Economic Crime and Corporate Transparency Bill.
The introduction of the ‘Failure to Prevent Fraud’ offence, according to the article, comes after new government figures reveal fraud as the most common criminal offence in the U.K., accounting for 41% of all crimes committed between October 2021 – September 2022.
Kambiz commented, “there is no doubt that this is a significant development in that the effect of the offence will be to make it easier to prosecute a large organisation where an employee or agent commits a specified fraud offence for the organisation’s benefit, and where the organisation did not have reasonable fraud prevention procedures in place.”
The full article can be read here.
