The Serious Fraud Office director stressed that corporate fraud undermines confidence in UK firms and impacts taxpayers, emphasizing the law's role in holding firms accountable.
With the new guidelines, businesses must proactively prevent fraud to avoid criminal liability, showcasing the government's commitment to tackling economic crime.
The Home Office's guidelines define large businesses as those with over 250 employees, a £36m turnover, or £18m in assets, clearly targeting significant organizations.
Businesses have nine months to implement fraud prevention measures, making it imperative for them to act timely to avoid prosecution under the new law.
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