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Posted By UNICORN TRAINING

Have you educated your employees on the Criminal Finances Act 2017?

Unicorn Training Criminal Finances Act 2017 Course Screenshot

The Criminal Finances Act 2017, which came into effect on 30th September 2017 introduced two new corporate offences:

  • Failure by the organisation to prevent the facilitation, by an associated person, of UK tax evasion
  • Failure by the organisation to prevent the facilitation, by an associated person, of foreign tax evasion

Companies and partnerships are criminally liable if they fail to prevent tax evasion by either a member of their staff or an external agent, even where the business was not involved in the act or was unaware of it.

To help firms understand the new offences and take appropriate steps to prevent a breach of the laws, Unicorn is pleased to announce the release of a brand-new eLearning course ‘Compliance with the Criminal Finances Act 2017’.

The activities in the course focus on the two new offences, the warning signs of these offences and how organisations can help prevent a breach of the laws.

When learners have completed the pathway, they will be able to:

  • Understand the background to the legislation and the two new offences
  • Identify the difference between tax avoidance and tax evasion (legal vs Illegal)
  • Identify what constitutes an offence, its impact and what can be done to prevent it
  • Spot red flags, mitigate risk and report suspicious activity

The course is structured as a learning pathway containing the following activities

  • Introduction to the Criminal Finances Act
  • Tax evasion and tax avoidance
  • Changes to the law and the impact on organisations
  • Red flags and Risk
  • Assessment
  • Summary

The new course has been added to the Financial Crime catalogue within Unicorn’s Governance, Risk and Compliance library. It will provide learners with up to 60 minutes of CPD.

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