UK Criminal Finances Act 2017 | Are You Compliant?


This Special Report provides important information regarding two new corporate criminal offences under the UK Criminal Finances Act 2017 (Act) that came into effect on 30 September 2017.
To comply with the Act and to protect your organisation from criminal liability under these new offences, you will need to implement policies and procedures aimed at preventing employees and other associated persons from deliberately and dishonestly helping others to evade UK or foreign taxes (i.e., anti-tax evasion facilitation policies and procedures), even if the risk of your organisation being exposed to such illegal activity is low.
Heads of legal, risk and compliance and other key senior personnel should read this article, as they will be responsible for overseeing the implementation of anti-tax evasion facilitation policies and procedures for their employer organisation in accordance with the guidelines set out herein, to the extent they have not already done so.