Great Britain: corporates can soon be held liable for employee fraud

On 18 April the UK House of Lords embarks on the committee stage in its consideration of the Economic Crime and Corporate Transparency Bill. This government-drafted bill is approaching its final stages before enactment. In particular the text provides that companies failing to detect an internal fraud will be held legally responsible and possibly fined (no ceiling). Furthermore, the prosecutor will not have to prove that the company knew about the fraud. Currently, a company can only be convict