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Economic crime

Access guidance, resources and tools relating to the prevention of economic crime, including legislative developments, anti-money laundering, fraud, bribery and corruption, and modern slavery.
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Companies House reform: first changes introduced

On 4 March 2024, the first set of measures to be rolled out by Companies House under the Economic Crime and Corporate Transparency Act 2023 came into effect. Fahad Asgar looks at the changes, how they contribute to tackling economic crime and how they fit in with the other upcoming changes.
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Insights

Companies House: proposed ID verification explained

Proposed amendments to the Companies Act 2006 introduce stringent identity verification for those setting up, running or controlling companies, in a bid to stamp out money laundering via fake identities.
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The Economic Crime and Corporate Transparency Act: accounts and filing aspects

This page looks at the reforms to Companies House, introduced by The Economic Crime and Corporate Transparency Act, that impact the preparation and filing of accounts. It also signposts to information on other measures contained within the Act.
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ICAEW Insights

What’s in the Economic Crime Act 2023?

In this Insights In Focus episode, we explore the contents and implications of the Economic Crime and Corporate Transparency Act 2023.
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Guidance

Guide: Economic Crime Act 2022

Understand what the Economic Crime (Transparency and Enforcement) Act 2022 means in practice for accountants.
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Legislation

Economic Crime and Corporate Transparency Act becomes law
  • Article
  • ICAEW Insights
We outline the changes and implications of the Economic Crime and Corporate Transparency Act.
A guide to the Economic Crime Act 2022
  • Helpsheets and support
On 14 March 2022, the Economic Crime (Transparency and Enforcement) Act 2022 became law, following substantial amendments made by the House of Lords. The Government fast tracked this legislation in response to the Russian invasion of Ukraine. We take a look at some of the key considerations for accountants.
UK company law
  • Listing
  • Business Law
Resources include relevant ICAEW technical releases, such as guidance on dividends and distributable profits, and updates on key developments in regulation, prospective legislation and related matters of professional concern to accountants in practice, industry or commerce.
Corporate Criminal Offence: Why all businesses should be taking this seriously
  • Article
  • Lucy Sauvage
Lucy Sauvage, a Director in BDO’s Tax Risk team talks to ICAEW’s Tax Faculty and answers key questions about the effect of the pandemic on risks relating to the corporate criminal offence (CCO) and what organisations need to be thinking about.

Companies House reform

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal Assent on 26 October 2023. As well as measures to tackle economic crime, changes introduced will improve the quality of financial information available on the UK Company Register. Implementation will involve a significant programme of secondary legislation, which is anticipated to begin in early 2024 and be phased-in over several years.

Exclusive CORPORATE REPORTING FACULTY Companies House reform: accounts and filing aspects
  • Webinar
  • 25 Sep 2024
This webinar offers an opportunity to hear from Companies House on changes to UK company law. As well as providing a broad overview of the Economic Crime and Corporate Transparency Act, the webinar focuses on accounts reform aspects, including changes to filing requirements.
CORPORATE REPORTING FACULTY The Economic Crime and Corporate Transparency Act: accounts and filing aspects
  • Helpsheets and support
  • 08 Aug 2024
This page looks at the reforms to Companies House, introduced by The Economic Crime and Corporate Transparency Act, that impact the preparation and filing of accounts. It also signposts to information on other measures contained within the Act.
Companies House: proposed ID verification explained
  • Article
  • 01 Jul 2024
Proposed amendments to the Companies Act 2006 introduce stringent identity verification for those setting up, running or controlling companies, in a bid to stamp out money laundering via fake identities.
Exclusive Companies House reform: first changes introduced
  • Article
  • 09 May 2024
On 4 March 2024, the first set of measures to be rolled out by Companies House under the Economic Crime and Corporate Transparency Act 2023 came into effect. Fahad Asgar looks at the changes, how they contribute to tackling economic crime and how they fit in with the other upcoming changes.
Companies House activates new powers to combat fraud
  • Article
  • 04 Mar 2024
New Companies House regime aims to improve data quality and counter misuse – a timely introduction as banks are on high alert due to a spike in potential fraudulent company filings.
Exclusive CORPORATE REPORTING FACULTY Changes to accounts preparation and filing requirements
  • Article
  • 05 Jan 2024
As well as measures to tackle economic crime, the Economic Crime and Corporate Transparency Act aims to support economic growth by improving information held on the UK companies register. Sally Baker explains the changes the Act will bring in the coming years.
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Changes to UK company law
  • Website
  • 18 Jan 2024
Information and guidance from the government on the changes to UK company law, including why they are important and who is affected.
News from Companies House
  • Website
  • 18 Jan 2024
A blog from Companies House providing tips, advice and news, including the latest developments in changes to UK company law.

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Anti-money laundering

Man in suit pulling out some bank notes from an envelope
ICAEW AML report highlights need for customer due diligence
  • Article
  • 18 Nov 2024
Firms should ensure they have adequate CDD procedures in place, particularly around verification and ongoing monitoring, the latest Anti-Money Laundering Supervision Report suggests.
Financial Crime Guide (June 2024): Combating the exploitation of international students as money mules
  • Newsletter
  • 13 Nov 2024
  • PDF (844kb)
This financial crime guide has been developed to assist government agencies and financial service providers, including remittance service providers and digital currency exchanges, to understand and identify signs of criminal networks exploiting vulnerable members of the community as money mules.
Exclusive Alternative Banking Platforms (ABPs) Money Laundering and Tax Fraud
  • Newsletter
  • 13 Nov 2024
  • PDF (316kb)
Extract from NCA Amber ALERT of November 2023 (Reference 0734-NECC)
Professional Standards Update November 2024 Read recently updated FAQs around continuing professional development requirements, a summary of the latest disciplinary cases and the latest guidance and resources to support you in your role.
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Bribery and corruption

Accountants must rally together to combat corruption
  • Article
  • 25 Nov 2024
ICAEW is contributing to the battle against procurement fraud and is sharing best practices to combat corruption, which costs the global economy £2trn annually. Discover how you can make a difference.
Companies House reform
  • Listing
  • 12 Aug 2024
Articles, helpsheets and resources covering issues related to Companies House reform under the Economic Crime and Corporate Transparency Act 2023.
Accountants in business ‘must lead’ anti-corruption action
  • Article
  • 03 Jul 2024
ICAEW joins forces with the International Federation of Accountants and the Basel Institute to offer anti-corruption guidance for accountants.
Public and private sector collaboration key to fighting corruption
  • Article
  • 14 May 2024
Closer working ties between businesses and enforcement agencies will boost the battle against corruption, expert speakers at a recent IFAC, ICAEW and IBA event agree.
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Fraud

Accountants must rally together to combat corruption
  • Article
  • 25 Nov 2024
ICAEW is contributing to the battle against procurement fraud and is sharing best practices to combat corruption, which costs the global economy £2trn annually. Discover how you can make a difference.
Exclusive Alternative Banking Platforms (ABPs) Money Laundering and Tax Fraud
  • Newsletter
  • 13 Nov 2024
  • PDF (316kb)
Extract from NCA Amber ALERT of November 2023 (Reference 0734-NECC)
Exclusive Virtually squatting – typologies and preventative measures
  • Newsletter
  • 13 Nov 2024
  • PDF (164kb)
Extract from NCA Amber ALERT of June 2024 (Reference 0742 - NECC)
The role of the accountant in tackling economic crime
  • Article
  • 07 Nov 2024
At ICAEW’s ethics event, Serious Fraud Office Chief Investigator hails accountants’ “critical role” in fighting against wrongdoing, as an expert panel weighs implications of the Economic Crime and Corporate Transparency Act.
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Modern slavery

Modern slavery signs that accountants are well placed to spot
  • Article
  • 30 Jul 2024
Businesses are increasingly raising concerns of modern slavery and recognising risks in their supply chains. Which red flags must accountants be particularly alert to?
The role of ethics within AI to combat modern slavery
  • Article
  • 05 Jul 2024
We complete our iEARTHS miniseries journey through an ethical lens. The ethical risks and challenges are real and require thoughtful reflection to protect what really matters: vulnerable individuals.
Diving deeper into the data for combating modern slavery
  • Article
  • 26 Jun 2024
The challenges around understanding what the data does or doesn’t tell us is a major factor in making AI work effectively. In the latest in his series, David Wray looks at getting data right and how causal AI might aid in offering decision-useful options.
Combating modern slavery: when Gen AI isn't enough
  • Article
  • 20 Jun 2024
Following his introduction to the iEARTHS’ artificial intelligence (AI) solution, David Wray discusses why causal AI was chosen over generative AI and how the team tackled bias and hallucinations.
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Courses and videos

Risk management and fraud courses

ICAEW's risk management and fraud courses address topics relevant to all levels of your organisation. Designed and delivered by experienced financial risk professionals. All CPD courses are live virtual classrooms and can be delivered in-house.
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Mortarboard and books
Displaying 1-4 of 4 results
5 steps to know your client better using open source research, with Nick Bowen from the KPMG Forensic Team.
5 steps to know your client better using open source research, with Nick Bowen from the KPMG Forensic Team.
  • Video
  • 26 Jan 2021
Alongside existing CDD procedures, open source research using publicly available information can help you get to know your clients better – protecting your business and your brand.
The financial controller who stole £20,000: 4 lessons to help you stop internal fraud
The financial controller who stole £20,000: 4 lessons to help you stop internal fraud
  • Video
  • 17 Mar 2021
The real case of a financial controller who attempted to steal £20,000 from her business, and the steps that chartered accountants can take to help prevent internal fraud from happening in their organisation. Chartered accountants need to be alert to potential signs of fraud and manipulation of accounting records. We examine a real case of a business that discovered it had been the victim of internal fraud.
4 ways for chartered accountants to stop criminal activity in their organisation
4 ways for chartered accountants to stop criminal activity in their organisation
  • Video
  • 07 Apr 2021
Chartered accountants can help to spot and prevent fraud from taking place. We examine a real case of a business that discovered its chief financial officer had been falsifying accounts. The real case of a chief financial officer who tried to manipulate his company’s financial position to support its share price, and 4 ways that chartered accountants can help to stop similar criminal activity in their organisation.
How to prevent invoice fraud: A real life case of how a business that lost €500,000 to cyber criminals,
How to prevent invoice fraud: A real life case of how a business that lost €500,000 to cyber criminals,
  • Video
  • 05 Mar 2021
Chartered accountants more than ever need to be alert to potential signs of fraud and manipulation of accounting records. We examine a real case of a business which lost half a million euros to invoice fraud.
Displaying 1-4 of 4 results

Fraud Advisory Panel resources

Guidance, research and training resources on fraud and cybercrime.

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Fraud Advisory Panel

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