Do we need a failure to prevent fraud offence?

This chapter considers the case for extending the ‘failure to prevent’ offence to Fraud. It analyses the offence in the context of recent litigation involving section 7 of the Bribery Act 2010 and considers in particular the way a quasi-code of corporate governance has been created around the provision making a demonstrable change in corporate culture. Comparisons are made with previous attempts to effect cultural change through Corporate Governance Codes and also section 172 of the Companies Act 2006. The chapter concludes by highlighting aspects of the offence that would make it potentially suited for the Fraud Act 2006.