Emma RadmoreThe All Party Parliamentary Groups for Anti-Corruption and Responsible Tax and for Fair Business Banking have published a manifesto looking at the scale of corruption and calling for significant greater transparency to address the risks. The manifesto recognises the work which has been done, but says it does not go nearly far enough. It wants the next Government to build on the pillars of transparency, regulation, enforcement and accountability and gives a long list of recommendations. The recommendations include:
- a failure to prevent fraud offence that applies to all companies;
- a new failure to prevent money laundering offence;
- senior executive and individual liability for economic crimes where a company has committed a crime as a result of neglect by the senior executive or where a senior executive has facilitated or failed to prevent these crimes; and
- broadening the scope of the MLRs to include institutions like private schools and universities, PR agencies, developers, all letting agents and commodity traders.