McDermott Will & Schulte, a global law firm

Failure to prevent fraud, a new offense under a 2023 UK economic crime law, casts a wide net that’s expected to fall well outside the nation’s borders, extending to companies in the US and elsewhere. Simon Airey and Andrew Butel of McDermott, Will & Schulte explore what types of organizations are covered and why corporate reporting structures that don’t enable direct access between compliance and the board could spell trouble.