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Economic crime

Access guidance, resources and tools relating to the prevention of economic crime, including legislative developments, anti-money laundering, fraud, bribery and corruption, and modern slavery.
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Regulation
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ICAEW Insights Podcast

A busy new tax year, plus progress on the Economic Crime Act

In this episode, we discuss why the arrival of the 2024/25 tax year is particularly busy for accountants, and the main changes to be aware of from 6 April.
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ICAEW Insights

What’s in the Economic Crime Act 2023?

In this Insights In Focus episode, we explore the contents and implications of the Economic Crime and Corporate Transparency Act 2023.
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ICAEW Insights Podcast

ISQM, preparing and filing accounts, and public practice

In this episode, we discuss how firms can maintain momentum on the International Standard of Quality Management, as well as changes in preparation and filing as a result of the Economic Crime and Corporate Transparency Act.
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Insights

Economic Crime and Corporate Transparency Act becomes law

We outline the changes and implications of the Economic Crime and Corporate Transparency Act.
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Guidance

Guide: Economic Crime Act 2022

Understand what the Economic Crime (Transparency and Enforcement) Act 2022 means in practice for accountants.
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Legislation

Economic Crime and Corporate Transparency Act becomes law
  • Article
  • ICAEW Insights
We outline the changes and implications of the Economic Crime and Corporate Transparency Act.
A guide to the Economic Crime Act 2022
  • Helpsheets and support
On 14 March 2022, the Economic Crime (Transparency and Enforcement) Act 2022 became law, following substantial amendments made by the House of Lords. The Government fast tracked this legislation in response to the Russian invasion of Ukraine. We take a look at some of the key considerations for accountants.
UK company law
  • Listing
  • Business Law
Guidance on company law developments tailored for those working in accountancy and finance. Browse key developments in regulation, prospective legislation and related matters of professional concern to accountants in practice, industry or commerce.
Corporate Criminal Offence: Why all businesses should be taking this seriously
  • Article
  • Lucy Sauvage
Lucy Sauvage, a Director in BDO’s Tax Risk team talks to ICAEW’s Tax Faculty and answers key questions about the effect of the pandemic on risks relating to the corporate criminal offence (CCO) and what organisations need to be thinking about.

Companies House reform

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal Assent on 26 October 2023. As well as measures to tackle economic crime, changes introduced will improve the quality of financial information available on the UK Company Register. Implementation will involve a significant programme of secondary legislation, which is anticipated to begin in early 2024 and be phased-in over several years.

Companies House activates new powers to combat fraud
  • Article
  • 04 Mar 2024
New Companies House regime aims to improve data quality and counter misuse – a timely introduction as banks are on high alert due to a spike in potential fraudulent company filings.
Exclusive CORPORATE REPORTING FACULTY Changes to accounts preparation and filing requirements
  • Article
  • 05 Jan 2024
As well as measures to tackle economic crime, the Economic Crime and Corporate Transparency Act aims to support economic growth by improving information held on the UK companies register. Sally Baker explains the changes the Act will bring in the coming years.
Companies House hails success of Register of Overseas Entities
  • Article
  • 16 Oct 2023
However, concerns remain that verifying documents could leave ICAEW member firms open to prosecution, and the register fails to tackle hidden identities of the Ultimate Beneficial Owners of trusts.
Exclusive CORPORATE REPORTING FACULTY Companies House reform
  • Article
  • 11 Jan 2023
Why credit reference agencies welcome the proposed changes to the filing requirements for small and micro-entities.
CORPORATE REPORTING FACULTY The Economic Crime and Corporate Transparency Act: accounts and filing aspects
  • Helpsheets and support
  • 28 Dec 2023
This page looks at the reforms to Companies House, introduced by The Economic Crime and Corporate Transparency Act, that impact the preparation and filing of accounts. It also signposts to information on other measures contained within the Act.
Changes for Limited Partnerships on the horizon
  • Article
  • 13 Dec 2022
The Economic Crime and Corporate Transparency Bill’s requirements for Limited Partnerships could affect many private fund managers. George Metcalfe, a partner at law firm Freeths, explains what the proposed changes mean in practice.

Changes to UK company law
  • Website
  • 18 Jan 2024
Information and guidance from the government on the changes to UK company law, including why they are important and who is affected.
News from Companies House
  • Website
  • 18 Jan 2024
A blog from Companies House providing tips, advice and news, including the latest developments in changes to UK company law.

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Anti-money laundering

Charity banking obstacles reach crisis point
  • Article
  • 22 Apr 2024
Difficulty opening accounts, accounts being frozen or closed without warning, inadequate customer service, high charges and lengthy delays in implementing new mandates among list of complaints.
Professional Standards Update April 2024 This month, we share more information about upcoming PII changes and invite you to ask your questions during a webinar on 21 May. We also highlight common mistakes firms make regarding Clients’ Money requirements, share a summary of recent disciplinary cases and signpost resources and updates according to your regulatory role.
Technical releases
  • Listing
  • 05 Apr 2024
ICAEW publishes technical releases offering support on legal and regulatory areas relevant for accountants.
Disciplinary update: April 2024
  • Newsletter
  • 04 Apr 2024
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
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Bribery and corruption

The auditor who fought Kenyan corruption
  • Article
  • 17 Apr 2024
This year’s ICAEW Achievement Award winner, Edward ‘Eddie’ Ouko, faced huge resistance in his role as Auditor-General of Kenya. Despite the threats, he stood his ground.
Public/private sector collaboration key to fighting corruption
  • Article
  • 12 Apr 2024
Closer working ties between businesses and enforcement agencies will boost the battle against corruption, expert speakers at a recent IFAC event agree.
Profession under microscope in major corruption study
  • Article
  • 27 Feb 2024
Universities and expert body unite to ramp up data on actions that enable corruption – with the influence of accountants high on the project’s list.
The UK’s corruption conundrum
  • Article
  • 08 Feb 2024
As the UK drops to its lowest-ever position in the global Corruption Perceptions Index, ICAEW’s Economic Crime Manager, Mike Miller, asks if this reinforces the view that the UK is a facilitator of economic crime.
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Fraud

How business should approach fraud risk
  • Article
  • 02 Apr 2024
Fraud volumes and values are rising annually. But new rules and governance regulations hope to help prevent business fraud before it happens and detect it when it does.
Articles on fraud and coronavirus
  • Listing
  • 19 Mar 2024
Read features and articles covering attempted fraud of the different government support schemes that were introduced to mitigate the impact of coronavirus on the economy and firms.
UK fraud makes massive leap to £2.3bn
  • Article
  • 28 Feb 2024
Reported cases of fraud are rising and the amounts involved are getting larger – but still fewer than one in seven fraud offences are reported to the police.
House of Lords reports on Finance Bill measures
  • Article
  • 06 Feb 2024
House of Lords agrees with the Tax Faculty recommendation that the start date for merged scheme for R&D tax relief should be delayed.
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Modern slavery

How accountants can help refugees and combat modern slavery
  • Article
  • 06 Jan 2023
ICAEW member Sarah Crowhurst volunteers helping refugees in Greece, providing support to those forced into prostitution. She explains why, and how accountants can help.
What makes a good modern slavery statement?
  • Article
  • 11 Jul 2022
Modern slavery is still all too common in the UK, with 10,613 potential victims identified in 2020. The modern slavery statement is designed to improve transparency and vigilance within businesses and their supply chains.
How do we improve modern slavery reporting?
  • Article
  • 27 Jun 2022
Around one in 10 British companies do not provide a modern slavery statement. Why aren’t organisations taking the problem seriously?
Modern slavery: nothing to do with me?
  • Article
  • 14 Jun 2022
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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Courses and videos

Risk management and fraud courses

ICAEW's risk management and fraud courses address topics relevant to all levels of your organisation. Designed and delivered by experienced financial risk professionals. All CPD courses are live virtual classrooms and can be delivered in-house.
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Mortarboard and books
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5 steps to know your client better using open source research, with Nick Bowen from the KPMG Forensic Team.
5 steps to know your client better using open source research, with Nick Bowen from the KPMG Forensic Team.
  • Video
  • 26 Jan 2021
Alongside existing CDD procedures, open source research using publicly available information can help you get to know your clients better – protecting your business and your brand.
The financial controller who stole £20,000: 4 lessons to help you stop internal fraud
The financial controller who stole £20,000: 4 lessons to help you stop internal fraud
  • Video
  • 17 Mar 2021
The real case of a financial controller who attempted to steal £20,000 from her business, and the steps that chartered accountants can take to help prevent internal fraud from happening in their organisation. Chartered accountants need to be alert to potential signs of fraud and manipulation of accounting records. We examine a real case of a business that discovered it had been the victim of internal fraud.
4 ways for chartered accountants to stop criminal activity in their organisation
4 ways for chartered accountants to stop criminal activity in their organisation
  • Video
  • 07 Apr 2021
Chartered accountants can help to spot and prevent fraud from taking place. We examine a real case of a business that discovered its chief financial officer had been falsifying accounts. The real case of a chief financial officer who tried to manipulate his company’s financial position to support its share price, and 4 ways that chartered accountants can help to stop similar criminal activity in their organisation.
How to prevent invoice fraud: A real life case of how a business that lost €500,000 to cyber criminals,
How to prevent invoice fraud: A real life case of how a business that lost €500,000 to cyber criminals,
  • Video
  • 05 Mar 2021
Chartered accountants more than ever need to be alert to potential signs of fraud and manipulation of accounting records. We examine a real case of a business which lost half a million euros to invoice fraud.
Displaying 1-4 of 4 results

Fraud Advisory Panel resources

Guidance, research and training resources on fraud and cybercrime.

Find out more
Fraud Advisory Panel

Further resources

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Business law and regulation
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