Economic Crime and Corporate Transparency Bill back in Lords

As expected, when the Economic Crime and Corporate Transparency Bill was discussed in the Commons on 4 September, it disagreed with some of the Lords’ amendments, so the Bill has been returned to the Lords for further consideration.  This will take place on 11 September. Among the changes the Commons proposed was to agree the Lords’ proposal for a new “failure to prevent fraud” clause, but to apply it only to large organisations, and to disagree with the proposal to introduce a “failure to prevent fraud and money laundering” offence on the basis it had previously stated  – ie that it thinks the law already makes sufficient provision in relation to money laundering.

Emma Radmore