Corporate criminal liability
Jon Mack FRSA argues that irrespective of their corporate structures, institutions should not be able to evade liability for economic crime and that the time has come for new legislation to reflect this.
In 2019 the government recognised that corrupt practices in the oil and gas, extractives, overseas development and construction industries pose “a significant reputational risk to the UK.” The World Economic Forum estimates that corruption costs at least $2.6 trillion per year. The abuse of corporate structures to launder money, or the commission of offences by corporations and the inability to hold corporations to account for the most serious criminal offences damages confidence in the UK.