“But it will also help the people who are using our data to make our lives healthier, safer, and more prosperous. That’s because we’ve co-designed it with those people, to ensure that our regulation reflects the way real people live their lives and run their businesses.
The Parliamentary debate coincides with the Global Cross-Border Privacy Rules Forum in London. Over four days of workshops starting today the UK will lead global discussions between government officials, regulators and privacy experts, exploring how global privacy regimes can be more compatible and improve data transfers.Government debates new data laws to reduce cookie pop-ups and crack down on nuisance calls
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Firms could face unlimited fines if employees commit fraud for company benefit
“This government is committed to fighting economic crime, as demonstrated by our recently launched Economic Crime Plan 2 which set out how we will give law enforcement more state of the art resources to tackle high level offending.
“The new legislation will protect the public from a wide range of harms including dishonest sales practices, false accounting and hiding important information from consumers or investors.” It could also hold companies to account for dishonest practices in financial markets. The new powers follow on from recommendations made by the Law Commission’s 2022 review of corporate criminal liability. Prosecutors will independently consider whether a prosecution is in the public interest before any charges are brought. A business could face legal action if employees were selling products to a customer under false pretences, or if employees falsify accounts to mislead investors. Under both examples, a business could receive an unlimited fine if it is found to not have reasonable fraud prevention procedures in place. This enforcement not only ensures justice is secured for victims, it also encourages companies to create an environment where it is difficult for fraudulent tactics to thrive. There will be no requirement to prove that company bosses ordered or knew about a fraud committed by an employee. Andrew Penhale, Chief Crown Prosecutor for the CPS, said: “The scale of fraud in the UK – now accounting for 41% of all criminal activity – is so significant that extra measures to help prevent it and protect people from falling victim to this crime is welcome. “The new corporate offence of failing to prevent fraud is another important measure to drive better corporate behaviours and will complement existing measures for prosecutors.“Larger corporate enterprises, which fail to put in place reasonable measures to prevent fraud being committed by their employees, may be held criminally liable for that failure.”