Bribery, fraud and anti-money laundering | UK Regulatory Outlook October 2023

Economic Crime and Corporate Transparency Act

The Economic Crime and Corporate Transparency Act received Royal Assent on 26 October 2023, introducing greater powers which will allow authorities to prevent fraud, tackle corruption and deal with economic crime.

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Government launches Independent Review of Disclosure and Fraud Offences

On 12 October 2023, the Home Office launched an independent review into disclosure and fraud, with the aim of speeding up criminal investigations and increasing the number of prosecutions.

The government committed to launching an independent review into the operation of the disclosure regime and the challenges of investigating and prosecuting fraud offences in the digital age in its Fraud Strategy, published in May 2023.

The Chair of the Review, Jonathan Fisher KC, will report with recommendations on how to reform the disclosure regime in the summer of 2024, and give wider recommendations on fraud offences by spring 2025. See the terms of reference for the review.