Corporate crime (whether bribery, corruption, fraud, money laundering, or breach of sanctions) is a problem not only from an ethical and competition-distorting perspective, but also because of the risk it creates to the reputation of any affected business and the potential financial implications of a finding of wrongdoing. Businesses need to stay ahead of developments in this rapidly evolving area of law. Directors are obliged to comply with the increasingly complex requirements of criminal law compliance. Any board of directors that does not give due consideration to these issues runs a substantial risk of failing in its duties.
An increasingly proactive approach by prosecutors and regulators to policing corporate crime, using both traditional and more innovative civil and criminal remedies from the ever-growing arsenal available to them, together with the expansion of criminal offences designed to make prosecuting companies easier, have created an imperative for businesses to treat this as a major business issue.
Reactive compliance is not enough; to avoid liability in future, management will be expected to demand, exemplify and achieve the highest standards of ethical conduct and compliance with the criminal law, and its secondary requirements at all levels within their organisation.
