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At a glance
Tax evasion is a serious crime that deprives countries of revenue and can serve as a tool for further criminal activities like money laundering and terrorist financing. The UK Criminal Finances Act is an important law that aims to combat this by holding organizations liable for tax evasion facilitation by associated individuals.
NAVEX’s UK Criminal Finances Act course teaches the essentials of the Act, from key definitions and liability under the law to consequences for violations. Coverage also includes reasonable steps for prevention, such as due diligence and risk assessment. The course then explores the warning signs of tax evasion and how to report misconduct.
Training employees how to prevent, spot and report crimes like tax evasion is the first step to keeping it out of an organization. And it’s a critical piece of promoting a zero-tolerance policy against tax evasion facilitation – which can help preserve a positive workplace culture and trustworthy organizational reputation.
- Purpose and application of the Act
- Definitions of “relevant body” and “associated person”
- When the law applies
- Liability under the law
- Consequences for violations
- Stages of tax evasion facilitation and what it can look like
- Assessing for tax-evasion risks
- Following policies and procedures
- Due diligence compliance and third-party monitoring
- Communication and training around the zero-tolerance-for-crime policy
- Examples of tax evasion warning signs
- The importance of ongoing vigilance
- Where to report
- Reporting best practices
- A reminder of their important responsibilities
- An opportunity to review key policies and certify