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Insights special

Company reform and economic crime

The Economic Crime Act 2022 became law in March and part two of the bill is incoming. From risks to required changes, we explore key considerations for accountants on the issue.

Latest articles

Article
A hand pointing at a graph on a screen 27 Jun 2022
How do we improve modern slavery reporting?

Around one in 10 British companies do not provide a modern slavery statement. Why aren’t organisations taking the problem seriously?

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Article
Skyscrapers seen from below 24 Jun 2022
Corporate liability: is the net closing in?

The Law Commission has put forward a range of options for enhancing the legal system’s ability to prosecute corporations for economic crime. Do the proposals go far enough?

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Article
Dark close-up of hands typing on a laptop 21 Jun 2022
Why does the UK have such a problem with fraud?

Britain has long had a problem with fraud, but in the past few years the scale and complexity of fraudulent activities has increased to even more worrying levels.

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Article
People in a dark office with several screens showing data 20 Jun 2022
Londongrad: how the City became a money-laundering haven

Which key factors have conspired to make the UK capital synonymous with financial crime? Insights outlines the root causes, and ICAEW’s Michelle Giddings highlights emerging vulnerabilities.

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Article
Dark close-up of a laptop 17 Jun 2022
Corporate Criminal Liability: 10 options for tougher accountability

The Law Commission has released an options paper relating to the law on corporate criminal liability, covering “the challenges faced by the criminal justice system under the current law relating to corporate criminal liability”.

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Article
People in an office discussing data shown on a screen wall 17 Jun 2022
How to tackle high-end money laundering

Don’t be distracted by the label’s exclusive connotations: high-end money laundering is a problem that should be on every accountant’s radar, says ICAEW’s Michelle Giddings.

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Article
A person in an office looking at data displayed on a screen wall 14 Jun 2022
Major changes to government sanctions’ enforcement powers

The Economic Crime Act gives the Office of Financial Sanctions Implementation more power to impose penalties.

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Article
A person looking at a display 14 Jun 2022
Why do we need the Economic Crime Bill 2.0?

The Economic Crime Act was brought in swiftly in order for the UK to respond effectively to Russia’s actions in Ukraine. The second Economic Crime Bill is on the way. Why is it necessary?

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Article
A person working at a desk with screens showing maps and data 14 Jun 2022
Modern slavery: nothing to do with me?

The combination of existing skills and new tools means that ICAEW members can play a pivotal role in the fight against modern slavery, say Dipak Vashi and Hope Sherwin.

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