Lords report calls for 'failure to prevent fraud' offence

A House of Lords committee on fraud has called for a new cabinet-subcommittee and higher prioritisation by law enforcement to tackle the problem; the introduction of a new corporate criminal offence of 'failure to prevent fraud'; for banks to slow down payments in some situations; along with more accountability for telecoms companies and their regulator, Ofcom. Paul Brehony and Kate Gee of Signature Litigation report.

Paul Brehony (+44 (0)20 3818 3500, paul.brehony@signaturelitigation.com) is a partner and Kate Gee(+44 (0)20 3818 3500,kate.gee@signaturelitigation.com) is counsel at Signature Litigation.

A House of Lords committee on fraud has called for a new cabinet-subcommittee and higher prioritisation by law enforcement to tackle the problem; the introduction of a new corporate criminal offence of 'failure to prevent fraud'; for banks to slow down payments in some situations; along with more accountability for telecoms companies and their regulator, Ofcom. Paul Brehony and Kate Gee of Signature Litigation report.