Director disqualified over £13.9 million Barclays scam - what this means for corporate liability reforms

The disqualification comes as businesses face tougher corporate liability rules for offences committed by senior managers.

Daryl Dylan from Dublin allowed unarranged overdrafts with Barclays Bank to be used to make transfers of more than £1.6 million from the accounts of Oldcocdt Ltd and Oldcostl Ltd in 2021.

Most of the transfers were to connected companies controlled by his half-brother, Scott Dylan, and associates. Daryl Dylan failed to ensure the funds could be repaid to Barclays on demand, breaching the bank’s terms and conditions. He has been banned from being a company director for seven and a half years. Scott Dylan, 42, is currently serving a 13-year disqualification after being described as “the driving force” behind the scheme.

Ben commented: "The directors disqualification scheme can be a strong deterrent but it doesn't always worry the most unscrupulous. It will be interesting to see if s250 of the Crime and Policing Act 2026 will be the catalyst for tighter fraud prevention measures and a reduction in fraud of this type. Businesses will have to tighten up their fraud prevention measures to reduce the opportunity for senior staff to commit fraud or other offences which, under s250, could then make the organisation liable too."

Read Ben’s comments in the media:

• International Comparative Legal Guide (ICLG)

• Financial Reporter

For more information, please get in touch with Ben Hay or a member of VWV's specialist Fraud team.