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Navigating the Failure to Prevent Fraud: Key Insights and Implications

Navigating the Failure to Prevent Fraud: Key Insights and Implications

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 Welcome to Season 2 of the award-winning Data Driven Compliance. In this new season, we will examine the new Failure to Prevent Fraud offense. Join host Tom Fox as we explore this new law and how to comply with it through the lens of data-driven compliance. This podcast is sponsored by konaAI. In this concluding episode of Season 2, Tom Fox is joined by Steptoe LLP partners Zoe Osborne, Judy Krieg, and Matt Galvin for an in-depth discussion on the UK’s new fraud prevention offense. The panel explores the jurisdictional reach of the law, highlighting the broad scope that can impact U.S. companies, even those with limited ties to the UK. They delve into the roles of potential enforcers such as the Serious Fraud Office, the Crown Prosecution Service, and the Financial Conduct Authority. Practical advice is shared on leveraging AI for compliance, maintaining robust fraud prevention measures, and documenting decision-making processes to ensure transparency and accountability. This episode provides comprehensive insights essential for corporate compliance professionals navigating these complex regulatory landscapes. Key highlights: Overview of Failure to Prevent Fraud Offense Enforcement Agencies and Their Roles Technological Solutions for Fraud Prevention UK DPA Process and Jurisdictional Issues Resources: Steptoe LLP Matt Galvin Zoe Osborne Judy Krieg Click here for konaAI White Paper Rethinking Compliance: Practical Steps for Adapting to the UK's New Fraud Legislation Connect with Tom Fox on LinkedIn
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