CPA Bulletin

20 CPA Bulletin > February 2024 www.cpa.uk.net PLANT THEFT PLANT THEFT: 1 CPA supports specialist NCATT police unit The CPA recently announced that the association is committed to financially supporting the National Construction and Agriculture Theft Team (NCATT) to help tackle the ongoing theft of construction plant and equipment by organised criminal groups (OCGs). The significant commitment from the CPA over the next three years, reflects the unit’s ongoing success, led by Superintendent Andy Huddleston, in recovering £6m worth of agricultural and construction plant and equipment in 2023 alone. This long-term commitment by the CPA is to help address central government’s shortfall with all police force spending. The membership will be updated - where possible - of the successes this unit will bring in 2024. Failure to Fraud Offence Superintendent Andy Huddleston was a panel speaker at the CPA Conference 2023 The government obtained Royal Assent for the Economic Crime and Corporate Transparency Bill, which became law on 26th October 2023. The legislation was brought in to help tackle the growing issue of fraud and money laundering. This Act includes a new corporate criminal offence of failure to prevent fraud, which will apply to organisations meeting two of the following three criteria: Prevent • Companies with more than 250 employees • Companies which have a turnover of more than £36m • Companies with more than £18m in assets. The new Act has also created reforms to Companies House, by introducing identity verification for all new and existing registered company directors, as well as those classed as ‘People with Significant Control’ of the business itself. The government has produced a factsheet on this subject, and a copy can be found at www.gov/uk/government/publications/economic- crime-and-corporate-transparency-bill-2022-factsheets This Bill will also apply to the law governing Limited Liability Partnerships (LLPs).