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Conference Papers

Fraud and the liability of company directors

Brent Fisse

Published in:
Complex commercial fraud : proceedings of a conference held 20-23 August 1991
Peter N Grabosky (ed)
ISBN 0 642 16992 6 ; ISSN 1034-5086
(AIC Conference Proceedings; no. 10)

Abstract

Three significant developments concerning directors' liability for fraud related conduct are the broadening of the concept of dishonesty as it applies to corporate officers; the extension of liability to cover passive neglect by corporate officers; and the application of money laundering offences under Commonwealth proceeds of crime legislation. The effectiveness of legislation in dealing with fraud in these areas is discussed, using cases which illustrate how the law has been applied. The major question is whether law reform can be matched by effective enforcement so as to achieve real change.