Navigating the Economic Crime and Corporate Transparency Act in Aerospace

In this episode of the North West Aerospace Alliance News, Emma and Daniel explore the newly implemented Economic Crime and Corporate Transparency Act and its profound implications for the aerospace sector. They discuss how this legislation increases corporate liability, particularly in fraud prevention, and the necessity for companies to review and enhance their fraud prevention procedures. The conversation highlights the importance of regular employee training, conducting fraud risk assessments, and adopting best practices to stay compliant. With insights from Dan Stowers of Brabners Law Firm, the episode provides actionable advice for aerospace companies to adapt to these changes and protect themselves from financial crime. Tune in to learn how the North West aerospace industry can navigate this critical time and ensure they remain secure and compliant.