Employers Could Face Jail for Failing to Prevent Money Laundering, Corruption and Fraud by Their Staff

Ministers are set to carry forward new legislation that would make company boards criminally liable for a number of offences committed by their staff members. The changes to corporate criminal law could see directors and bosses facing prosecution if they have failed to prevent employees from committing fraud, corruption and money laundering. The proposals, which were first put forward by David Cameron, will mirror the tough stance on ‘white-collar crime’ in the U.S. and aims to tackle ‘boardroom excess’.