Partner Oren Warshavsky will take part in a panel titled “Corporate Liability for Failing to Spot or Prevent Fraud: When Can an Organization be Prosecuted or Found Liable for Failing to Prevent Fraud or Other Economic Crime Offence?” at the C5 Fraud, Asset Tracing and Recovery Geneva conference, March 12-13, 2026, in Geneva, Switzerland. The panel will address some of the scenarios in which corporations and financial institutions could be liable for fraud. Some topics include:
- Civil, regulatory and potential criminal liability
- The UK Failure to Prevent Fraud (FTPF) offence:
- The scope of criminal liability for large organizations if an “associated person” commits a fraud offence intended to benefit the organization
- Were the fraudsters’ actions intended to benefit the organization
- The actual receipt of a tangible “benefit” is not required
- Defining if “reasonable fraud prevention procedures” are adequate and in place
- Limitations and restrictions on acquiring the necessary data to prosecute or open formal investigations
- Liability for actual and additional damages
