Rhys Novak and Robin Hayden write for Personnel Today on the failure to prevent fraud offence and considerations for HR professionals
min readThe new offence of failure to prevent fraud carries the penalty of an unlimited fine for organisations within scope and the danger of significant reputational damage.
Rhys Novak, Partner, and Robin Hayden, Associate, provide guidance on the key considerations HR professionals should bear in mind to ensure their organisations are protected.
The article covers:
- What is the failure to prevent fraud offence?
- Which organisations are affected?
- What types of fraud are covered?
- Impact of successful compliance
- How to be compliant:
• Risk assessment
• Fraud prevention plan
• Monitor and review - Top tips for HR professionals
See one top tip below:
HR professionals need to work with compliance colleagues and senior leadership as part of the team implementing the organisation’s anti-fraud procedures. Many organisations have found it helpful to have a specific person responsible for leading on the implementation, supported by a working group and external support where necessary.
Read the full piece in Personnel Today here.
