{"href":"https://api.simplecast.com/oembed?url=https%3A%2F%2Fmoodys-talks-kyc-decoded.simplecast.com%2Fepisodes%2Ffailure-to-prevent-fraud-episode-CjcjmxE_","width":444,"version":"1.0","type":"rich","title":"Failure to prevent fraud episode","thumbnail_width":300,"thumbnail_url":"https://image.simplecastcdn.com/images/48d244e8-5815-45c1-9b60-b03aceaa2ad5/b8edaaa9-fc5c-4cac-baad-56d0c1463b4c/bx4808risk_reframedwide1080x1080.jpg","thumbnail_height":300,"provider_url":"https://simplecast.com","provider_name":"Simplecast","html":"","height":200,"description":"Fraud is one of the most pervasive challenges in the modern economy, accounting for enormous financial and societal harm. In response to this growing crisis, the UK has introduced a ‘failure to prevent fraud’ offence—a transformation that holds organizations accountable for their role in preventing fraudulent activities. \n \nIn this episode, Moody’s Industry Practice Lead, Ted Datta, joins host Alex Pillow. Together, they dive into the implications of this new offence, exploring how it reshapes corporate responsibility, impacts global businesses, and sets the stage for compliance standards in the fight against financial crime. Key topics include: \nAn overview of the UK’s new ‘failure to prevent fraud’ offence and how it shifts legal responsibility \nWho it applies to and the criteria for being affected \nThe rationale for enactment and what it seeks to address \nWhat measures organizations can consider implementing to address fraud \nPotential effects on the cost of doing business in the UK, and international ramifications "}