Teiss guest blogger Nick Henderson, Course Director at compliance specialist VinciWorks, explains the importance of the new Criminal Finances Act.
Under the Act, your business could be criminally liable for the actions of your employees. The Act requires businesses to have “reasonable procedures” in place to ensure that employees are not helping someone evade their taxes, wherever in the world it is owed.
Also of interest: Preventing cyber crime
Companies at risk from third parties
“Criminal facilitation” (acting in a way that helps someone else commit a crime) can occur without the knowledge of anyone else in the company.
And it isn’t just a problem for companies that give financial advice
... read more at: https://teiss.co.uk/threats/tax-evasion-new-criminal-finances-act-2017/