The Criminal Finances Act & HR

The Criminal Finances Act 2017, what does it actually mean in terms of the HR's role and responsibility within an organisation.

This should actually be good news however, with the underlying fact that many organisations may be found guilty of this very criminal offence, if/when their individual HR functions are not up to date in terms of various aspects that need to be in place e.g. risk assessments both internally within the organisation and clients within whom it engages.

Thankfully, the new law does with ease enable the calling to account where non-compliance in a discrete mode. However, for any of this to become effective as originally intended "prevention is better than cure" hence, HR need to be upskilled within this area to ensure maximum occupational competency.

There are some crucial steps that need to be taken by organisations in relation to HR monitoring and implementation ranging from:

• What constituents into such an offence.

• Effective strategies required by HR to be put in place in the form of relevant policies and procedures (preventative).

• Management (Senior Level) involvement.

"The future, can surely be bright" depending on how efficient and effective overall HR strategies in place are.

Let us know of your views on this topic we would love to know what your experiences, challenges or new suggestions are within this area. Alternatively, drop us an email at: info@ecservices-global.com