The UK government is moving towards introducing a new corporate criminal offence: Failure to Prevent Fraud and Money Laundering. The draft offence, contained in the Economic Crime and Corporate Transparency Bill, would hold companies criminally liable for fraud or money laundering offences committed by associated persons if they do not have reasonable procedures in place to prevent these offences. With the Bill currently working its way through the legislative process and expected to receive Royal Assent this year it is important for companies to start thinking about their fraud prevention strategies now, including those that deal with insider risk.