On 12 July 2019, the UK government published its "Economic Crime Plan, 2019 to 2022" (the "Paper"), a policy paper setting out seven strategic priorities, each with action plans ("Actions"), for combatting economic crime. Those priority areas are stated policy objectives developed by the Economic Crime Strategic Board, a new ministerial level public-private taskforce created by the Cabinet in January 2019 with a mandate to set priorities and direct resources pursuant to the UK Government's Serious and Organised Crime Strategy. The Paper provides a "collective articulation of the action being taken by the public and private sectors" in preventing and combatting economic crime. The existence of a policy paper at all setting out a plan against which the government's progress can be measured will be viewed by many as a positive development in terms of accountability. This Update highlights some key features of the strategic priorities of the Paper as well as their accompanying Actions, evaluates some of the criticisms which have already been made of the Paper, and asks whether any observations can be drawn regarding the general direction of travel of legislation and enforcement in these areas.
Stay up-to-date on our perspectivesSubscribe to Email