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Economic crime

Access guidance, resources and tools relating to the prevention of Economic Crime, including Anti-money laundering, Sanctions, Fraud, Bribery and Corruption.

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Last updated: 28 November 2022

CCAB statement

CCAB joint statement to the profession following recent and on-going developments in the Ukraine.
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  • 02/03/2022
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A guide to the Economic Crime Act 2022

On 14 March 2022, the Economic Crime Act 2022 became law, following substantial amendments made by the House of Lords. It had been fast tracked through parliament in response to the Russian invasion of Ukraine. We take a look at some of the key considerations for accountants.
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  • 17/03/2022
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Key topics

Anti-money laundering Guidance and other work that we have done on anti-money laundering law and practice, in the UK and internationally.
Bribery and Corruption
  • Listing
Bribery and Corruption has long been perceived as a major obstacle for socio-economic development; distorting national and international economic relations.
Company reform and economic crime
  • Hub page
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.
Fraud
  • Listing
Fraud is usually taken to mean the gaining of an illicit advantage through deception and in particular the manipulation of financial information or accounting records.
Anti-money laundering supervision
  • Hub page
ICAEW is the largest accountancy professional body supervisor in the UK. Learn more about our role

Articles

Enforcement
  • Article
  • 09 Mar 2023
How rules are enforced, how breaches are investigated, the sanctions available and who adjudicates.
Tax news in brief 1 March 2023
  • Article
  • 28 Feb 2023
Highlights from the broader tax news for the week ending 1 March 2023, including: advisory fuel rates; stamp taxes newsletter; HMRC’s SDLT postcode; arrests connected with Euro Pacific bank; ATED revaluations; and economic crime levy guidance.
Economic Crime Bill: Lords urged to consider further amendments
  • Article
  • 08 Feb 2023
As the Economic Crime and Corporate Transparency Bill enters its second reading in the House of Lords, ICAEW has reached out to Lords encouraging them to consider two elements of the Bill.

CPD and training

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

Podcasts

A person working at a desk with laptop, calculator, papers and pen.
Economic crime, Russia/Ukraine and the Spring Statement
  • Podcast
  • 29 Mar 2022
On the latest ICAEW Insights podcast, we look at the fight to remove Russian economic criminals from the UK, and whether the Spring Statement does enough to address current economic pressures.
People planting a tree
Charity challenges, non-financial misconduct and tax fraud
  • Podcast
  • 20 Jan 2022
In this episode of ICAEW Insights, we look at the issues facing charities in the UK, the increasing focus of regulators, investors and stakeholders on non-financial misconduct and what’s new with tax.
A person looking a computer screens showing graphs
National Insurance rise, ransomware and charity fraud
  • Podcast
  • 23 Sep 2021
In this ICAEW Insights podcast we examine the government’s new Health and Social Care Levy, look at the rising tide of ransomware, and outline how the pandemic has changed fraud in the charity sector.

Videos

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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.

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Fraud Advisory Panel