The Home Office published their long-awaited guidance on the new failure to prevent fraud offence on 6 November 2024. The FTPF Offence, introduced by the Economic Crime and Corporate Transparency Act 2023, allows for large organizations to be held criminally liable where their employees, agents, subsidiaries, or other “associated persons” commit a base fraud offence intending to benefit the organization or its clients, and it is determined the organization failed to implement “reasonable fraud prevention procedures”. All large, incorporated bodies and partnerships are in scope of the FTPF Offence, and it applies both to UK-based organizations and organizations based abroad with a UK nexus. The Government also announced that the FTPF Offence will come into force on 1 September 2025.