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. In 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: An overview of the UK’s new ‘failure to prevent fraud’ offence and how it shifts legal responsibility Who it applies to and the criteria for being affected The rationale for enactment and what it seeks to address What measures organizations can consider implementing to address fraud Potential effects on the cost of doing business in the UK, and international ramifications