Ethics

Question 1

What would you do if you were offered a Bribe?

Answer 1

Ensure awareness of RICS countering bribery, corruption, money laundering and terrorist financing 2019 to identify bribe

I would follow guidance under our Anti-Bribery Policy 2018

report a bribe initially to my line manager and report on iethics under Network Rails anti-bribery policy 2018.

I would then use our internal ‘speak out’ service to advise them of the bribe so that they could investigate.

This would then be reported to serious fraud office

Question 2

Give me an example of when you have provided a high level of service?

Answer 2

I believe I provided a high level of service when I directed my client to seek advice where I felt I wasn’t competent to advise on a defect in an archway property.

Question 3

Give me an example of when you acted with integrity?

Answer 3

I believe I acted with integrity when I began rent review negotiations with a tenant in Paisley, whom I felt wasn’t clear on the process. I was happy to explain the rent review process however I advised the Tenant to seek professional advice.

I believe I acted honestly and fairly, considering how I would want to be treated. I didn’t take advantage of the Tenant. They sought advice of a solicitor who began rental negotiations on their behalf.

Question 4

When did the Bribery Act 2010 come into effect?

Answer 4

July 2011

Question 5

What are the 4 offences under the bribery act?

Answer 5

1) Bribing
2) Receiving a bribe
3) bribing a foreign official
4) failing to prevent a bribe

Question 6

What are the 6 principles of the Bribery act?

Answer 6

Proportionality
Top level commitment
Risk assessment
Due diligence
Communication
Monitoring and review

Question 7

What is the maximum cash payment that can be received?

Answer 7

No more than 10,000 euros

Question 8

What would you do if you were offered a gift?

Answer 8

Check RICS countering bribery, corruption, money laundering a terrorist financing document alongside company policy on gifts.

Also dependent on what stage of instruction I’m at - is it appropriate?

If above £15 value reject entirely.

If less than £15 and at end of instruction, register on iethics which is my company’s gift register

Question 9

What are the penalties for non-compliance with the Bribery act 2010?

Answer 9

Maximum penalty of 10 years imprisonment and/or an unlimited fine

In 2016 Sweet company were prosecuted by the serious fraud office in respect of a bribe offered to win Middle Eastern business and fined £1.4m. RICS then fined them £125,000 and costs.

Question 10

What is money laundering?

Answer 10

The legitimisation of proceeds of crime

Question 11

What customer due diligence checks should you undertake on an individual?

Answer 11

Verify client and identity
Usually ask for a copy of passport/driving licence
Copy of council tax and utility bill no longer than 3 months old

Question 12

What checks would you take on a private limited company?

Answer 12

Certificate of incorporation
Full name, registered number, registered office, business address, names of all directors and shareholders with 25% more holding

Question 13

Where should your report money laundering suspicion?

Answer 13

MLRO then to National Crime Agency

Question 14

What are the main objectives of the Client money handling professional statement?

Answer 14

• protect client money
• client accounts are used for appropriate purposes only
• RICS regulated firms have appropriate controls and procedures to keep client money safe