Failure to Prevent Fraud and What It Means for Your Conveyancing Business
The new corporate offence of failure to prevent fraud is live, and the SFO has made clear it intends to prosecute. Conveyancing firms handle some of the largest financial transactions most people will ever make, and the sector's exposure to payment diversion, identity fraud, and internal misconduct makes this offence acutely relevant.
In our latest blog, we look at what the offence means in practice for conveyancing businesses, how "reasonable procedures" translate into the day to day reality of property transactions, and why the reach of the offence extends well beyond the handful of firms that meet the size threshold in their own right.
If your firm handles conveyancing work, this is worth ten minutes of your time.
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