Geoficiency launches UK platform to help firms meet new fraud rules

French accounting technology provider geoficiency has launched its automated accounting controls platform in the United Kingdom ahead of new regulatory requirements scheduled to come into effect in 2025 and 2026.

The arrival of the Economic Crime and Corporate Transparency Act (ECCTA) in September 2025, followed by UK SOX-inspired legislation in 2026, is set to create new obligations for large organisations around fraud prevention and internal control certification.

The ECCTA introduces a new corporate offence of failure to prevent fraud. Under the new provision, organisations will be held criminally liable if an associated person, such as an employee, agent or subsidiary, commits fraud for their benefit and the organisation has failed to implement reasonable procedures to prevent such fraud.

This regulatory development builds on previous UK legislation, such as the Bribery Act 2010 and the Criminal Finances Act 2017, which introduced similar 'failure to prevent' offences. The ECCTA is also expected to prompt a UK adaptation of the Sarbanes-Oxley Act (UK SOX) in 2026, which will require listed companies to certify internal controls in their annual reports.

Geoficiency's solution is already established in the French market, having been tested under the country's anti-fraud legislation, Sapin II, which has been in force since 2017. The platform leverages proprietary artificial intelligence to analyse large volumes of accounting transactions, detect anomalies, document controls, and automate routine tasks across a wide variety of enterprise resource planning (ERP) environments.

Olivier Cornet, UK Country Manager for geoficiency, said, "Geoficiency is already used by several of our international customers in the UK. Its local deployment will enable us to further strengthen our support. What makes geoficiency different? An intuitive solution that's quick to implement and, above all, perfectly adapted to the diversity of environments: ERPs, languages, currencies, volumes..."

Jean-Marc Allouët, the company's Chief Executive Officer, commented, "The UK is a key step in our European roadmap. The challenges of compliance, transparency and automation are now universal. geoficiency's success is based on a clear promise: to provide a robust, agile and immediately operational technology."

Since its establishment in France in 2020, geoficiency reports adoption by around 20% of CAC 40 companies and deployment in over 60 corporate groups across 70 countries. The company states its mission is to accelerate compliance and accounting quality for large organisations by enabling the detection of risks and errors, automating repetitive tasks and refocusing finance teams on high-impact assignments.

Olivier Warneck, Director of Accounting for the SPIE Group, a client in the energy and communications sector, said, "We see real added value in our approach to accounting and data control."

Warneck further noted, "geo is an additional control tool that strengthens the security of our financial data." He confirmed that SPIE initially trialled geoficiency across 10 entities operating in remote geographies with complex or unusual accounting systems to validate the approach.

According to the Association of Certified Fraud Examiners, 43% of fraud detection arises from tips rather than technological solutions, a point that is considered significant in light of the ECCTA's expected impact on senior management responsibility for corporate fraud. With regulations increasingly focusing on governance, prevention procedures, and demonstrable controls, solutions such as geoficiency are positioning themselves as tools to help organisations proactively meet regulatory requirements while also seeking efficiency gains.

Geoficiency's controls portfolio covers identifying loopholes, continuous improvement in accounting quality, automating tasks with low added value, and redirecting finance teams toward activities with higher strategic impact for the organisation.