RSA: brokers need to help clients prepare for new tougher anti-fraud legislation
Nearly 25,000 UK businesses could be at risk of criminal liability under the new crime and transparency act.
That is the warning from RSA Insurance, which is calling on the industry to prepare for the Failure to Prevent Fraud (FTPF) offence, which comes into effect on the 1st September, 2025.
The Intact-owned insurer is calling on the industry, including brokers, to help clients understand and manage this emerging risk.
The Failure to Prevent Fraud offence, introduced under the Economic Crime and Corporate Transparency Act 2023 (ECCTA) places a legal obligation on organisations to implement robust fraud
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