Introducing "The Briefing": this is our inaugural webinar, packed with cutting-edge updates and exclusive industry insights you can't afford to miss. Follow us on LinkedIn to stay in the loop.
Introducing "The Briefing": this is our inaugural webinar, packed with cutting-edge updates and exclusive industry insights you can't afford to miss. Follow us on LinkedIn to stay in the loop.
Trading in the UK? You can't ignore the ECCTA
Everything You Need to Know About the ECCTA
If you’re trading in the UK and you don’t know about the ECCTA you’re in trouble. The Economic Crime and Corporate Transparency Act (ECCTA) threatens unlimited fines for a vast array of fraudulent activities, and time is running out to safeguard your organisation.
Tune in to this essential on-demand session to discover how to protect your business.
Duration: 45 minutes
What You'll Learn
- What is the ECCT Act: Key requirements every business trading in the UK must understand and follow.
- Liability Expansion: How the Act holds companies accountable for criminal acts by employees.
- Fraud Prevention Mandate: New legal obligation to actively prevent fraud.
- Compliance Essentials: Necessary processes and documentation to avoid unlimited fines.
- Expert Advice: Best practices to ensure your business meets ECCT requirements.
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.
Learn more about ECCT
Find out how Workiro can help
A foundational requirement of the ECCT Act is maintaining secure and accurate records of company ownership, activities and decision-making, and future implementation will require digital filing in a specified format.
Workiro’s robust record-keeping functionality, with seamless integration with NetSuite and Office365, makes it easy for businesses to manage, track and report at every stage of the operational flow, positioning you for ECCT compliance without requiring extensive changes to your business process. Book a short demo to find out more.
Book a chat
What to expect:
• Practical advice based on your unique needs for managing communications, documents and approvals across multiple apps with many different stakeholders.
• Insights, benchmarking and best practice from your industry/sector.
• An opportunity to address any specific challenges you are facing in strictest confidence.
• 15-minutes Zoom based call.
