The threat of fraud has never been greater for UK companies.
The UK has recently been described as fertile ground for fraudsters. In response, the Government is placing greater emphasis on corporate responsibility to combat fraud through measures contained in the Economic Crime and Corporate Transparency Act.
We have been closely monitored the Act as it progressed through Parliament, considering at each stage its implications for organisations.
We have interviewed 1,000 UK senior managers as part of this research. Our findings suggest that companies are ready and willing to act, but that there is a lack of understanding about what to do and who to notify. Help is clearly needed to tackle fraud, introduce internal controls, and prepare for the new law.