HOW A NEW GERMAN ANTI-FRAUD ACT MAY FORCE COMPANIES TO INVESTIGATE THEMSELVES

On 27 January, Control Risk published an article saying that Germany’s proposed Association Sanctions Act may force companies to investigate themselves.  The Federal Ministry of Justice published a first draft of the “Association Sanctions Act” in August 2019.  The article says that, if implemented in its current form, associations headquartered in Germany – including corporations and enterprises – will, for the first time, be subject to criminal prosecution as legal persons – finally bringing German law into line with US and British counterparts in accepting that it is not just individuals, but also the culture and larger structural failings of a company that can produce malfeasance.

https://www.controlrisks.com/our-thinking/insights/upping-the-ante-on-fighting-fraud

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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