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Law > Chapter 11 - Criminal law > Flashcards

Chapter 11 - Criminal law Flashcards

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1
Q

What does the term money laundering cover?

A

Proceeds of crime turned into legit money

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2
Q

What does proceeds of crime mean?

A

Any assets which have been procured by a criminal act

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3
Q

What are the different money laundering offences under Proceeds of Crime Act (POCA) 2002?

A

Concealing criminal property

Use/control of criminal property

Acquiring/using/possessing criminal property

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4
Q

What are the Money Laundering Regulations 2017?

A

Set out prescriptive approach in the form of a firm-wide written risk assessment

Amendments in 2019

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5
Q

Who do sole traders report suspicions of money laundering to?

A

National crime agency

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6
Q

If accountancy firms find discrepancies between of info about a customer what should they do?

A

Report to companies house

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7
Q

What are privelaged circumstances?

A

Limited to provision of legal advice and acting in respect of litigation

No ML report filed

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8
Q

What are the main offences of the Bribery Act 2010?

A

Bribing another person

Being bribed

Bribing a foreign official

Corporate failure to prevent a bribe

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9
Q

What does bribing another person entail?

A

Offering/promising/giving a financial offer/advantage to induce that person to perform an act improperly

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10
Q

What is the offence of being bribed?

A

Requesting/accepting/agreeing to receive financial offer/advantage to perform an act improperly

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11
Q

What is the offence of bribing a foreign public official?

A

Person offers/promises/gives financial offer/advantage to official/third party with official consent

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12
Q

What is the offence of corporate failure to prevent a bribe?

A

Commercial organisation fails to stop employee from accepting bribe

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13
Q

Who’s consent can institute proceedings under Bribery Act 2010?

A

Director of Public Prosecutions

Director of Serious Fraud Office

Director of Revenue and Customs Prosecutions

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14
Q

What is the max pen under Bribery Act 2010?

A

10 years imprisonment and/or unlimited fine

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15
Q

What are the offences punishable under Fraud Act 2006?

A

Fraud by false representation

Fraud by failing to disclose info

Fraud by abuse of position

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16
Q

What is the max pen for fraud under Fraud Act 2006?

A

10 years imprisonment and an unlimited fine

17
Q

What are the controls that protect against cybercrime?

A

Firewalls

Secure settings

Malware protection

Patching

18
Q

What does the Computer Misuse Act 1990 aim to do?

A

Secure computer material against unauthorised access or modification

19
Q

What does the Computer Misuse Act make it illegal to do?

A

Obtain unauthorised access to computer material

Obtain unauthorised access with internet to commit offences

Making/obtaining/supplying articles for unauthorised access

20
Q

What is fraudulent trading?

A

Business conducted with intent to defraud creditors

21
Q

How is fraudulent trading punished?

A

Unlimited fine and/or imprisonment for up to 10 years under Companies Act 2006

22
Q

What is fraudulent trading based on case law?

A

Dishonesty must be present

Intent to defraud

23
Q

What are the punishments to directors found guilty of fraudulent trading?

A

Disqualification from being a directors for up to 15 years

24
Q

Does fraudulent trading carry civil liabilities?

A

Yes for knowing persons

25
Q

When does a civil offence apply?

A

Only in liquidation scenarios

26
Q

What is insider dealing governed by?

A

Criminal justice act 1993

27
Q

What is an offence in insider dealing?

A

Dealing in securities while in possession of inside info as an insider with price effect on the securities as a result of info

28
Q

What is the max pen for insider dealing?

A

7 years imprisonment and/or unlimited fine

29
Q

Is there an offence committed where info is disclosed as part of employment?

A

No

30
Q

What legislation protects whistleblowers?

A

Public interest disclosure act 1998

31
Q

What does the criminal finances act 2017 do?

A

Potentially makes companies criminally liable if involved in tax evasion of any form

32
Q

Is market abuse civil or criminal law?

A

Civil

33
Q

What is the accountancy sector fraud charter?

A

Voluntary agreement entered into by law enforcement agencies, pro supervisory bodies and government to deal with fraud

Law (13 decks)

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