Economic Crime Bill: implications for accountants

Accountants and company directors will need to be careful when completing due diligence when wide reaching Economic Crime Bill comes into force, explain Paul Brehony, partner, and Kate Gee, counsel, Signature Litigation

In May, the Home Office tweeted about the Economic Crime and Corporate Transparency Bill (the Bill): ‘Driving out dirty money from the UK. Strengthening the UK's reputation for supporting legitimate business to thrive.’ Shortly thereafter, the Department for Business, Energy and Industrial Strategy claimed that the Bill would enable the government to ‘crack down on kleptocrats, criminals and terrorists who abuse our open economy’.

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