Fines and Penalties Flashcards
1
Q
What is the fine or penalty for Money Laundering?
A
An unlimited fine and/or a prison sentence of up to 14 years.
2
Q
What is the fine or penalty for Terrorist Financing?
A
An unlimited fine and/or a prison sentence of up to 14 years.
3
Q
What is the maximum fine or penalty for Tipping Off?
A
5 years imprisonment and/or a fine.
4
Q
What is the maximum fine or penalty for prejudicing an investigation?
A
5 years imprisonment and/or a fine.
5
Q
What is the maximum fine or penalty for failing to disclose information?
A
5 years imprisonment and/or a fine
Under the POCA
6
Q
What may an accountant also face if they fail to disclose a suspicion of money laundering?
A
Disciplinary action by the professional accounting body they are a member of, eg AAT
