The Economic Crime and Corporate Transparency Act (ECCT) became law in 2023, but many managers are unaware of the extensive new requirements it introduces for all businesses operating in the UK, with unlimited fines for non-compliance. It brings UK legislation more in line with existing US law, which has resulted in legal judgements and significant financial penalties for businesses like Uber. 

Key features include companies being held liable for criminal acts by a wider range of employees - not just senior leadership - a new legal requirement to prevent fraud, and a need for robust processes and documentation to prove your business is aware of its responsibilities and has taken steps to meet them. Without them, you can face an unlimited fine for actions taken by managers well below C-suite level.

In this webinar Luke Kiely, CISO for GetBusy and Robbie Hadfield, Director of Solutions Engineering for Payhawk, discuss some of these significant lesser-known requirements and how business leaders should prepare for them. Workiro’s extensive experience in financial workflow and tracking, and Payhawk’s expertise in financial services for business, both integrated via Oracle NetSuite, make them perfectly placed to advise on best practice for medium and large-scale businesses who need to prepare for ECCT enforcement.