The business climate in the UK deals with many challenges among which financial crimes are the most serious.

Fraud, bribery, corruption and money laundering are financial crimes which the authorities in Great Britain have an eye on through all sorts of regulations in order to try and tackle them on a daily basis.

The Fraud Act 2006 is the main regulatory framework which defines serious financial crimes and the punishments involved.

The Fraud Act 2006

Obtaining services in a dishonest manner as a natural person or as a representative of a business in the UK is considered fraud.

This serious financial crime may take three different forms: fraud by abuse of position, by false representation, or by failing to disclose information.

Complex fraud cases are usually inspected by the Serious Fraud Office in the UK through local representatives if such cases cannot be investigated by the police.

A solid defence is mandatory for individuals or companies accused of financial crimes like fraud.

In a financial crime case in the UK, persons can be arrested and kept in custody until further evidence is presented in the case.

Theft charges in the UK as part of financial crime cases

In the business environment, theft takes other serious forms which, in many cases, involves the owners or the directors of a business.

According to the Theft Act, false declarations and false accounting are serious financial crimes for which offenders can face imprisonment.

Business fraud in the UK continues to be in the attention of the authorities, particularly for the Financial Conduct Authority (FCA) which continues to fight financial crimes through varied regulations.

Companies need to have a clear idea about internal measures and policies in order to reduce the risk of fraud which might lead to other serious financial crimes.

Penalties for business crimes

Fraud and theft charges are indictable if the evidence in such cases is sustained in the court of law.

Fines and imprisonment of up to five years are linked to corporate offenders accused and found guilty of financial crimes in the UK.

The Sentencing Council for Fraud, Bribery and Money Laundering Offences in the UK is the authority that sets out the punishments for the aforementioned financial crimes.

Without a doubt, a proper defence in a financial crime case should be of utmost importance to both companies and persons who face such serious accusations.

If you have been accused of a financial crime and require legal support, contact Defence Solicitors London.