Companies face prosecution risk as new fraud law comes into force

CPS hails major step forward in crime prevention with potential for companies to receive unlimited finesCompanies could be prosecuted and face unlimited fines if they fail to prevent fraud that their firm profits from under a corporate offence coming into force on Monday.Under the new failure to prevent fraud law, large companies can be held criminally liable where an employee, agent, subsidiary or other associated person commits a fraud intending to benefit the organisation.