Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Ethics > Legal Considerations > Flashcards

Legal Considerations Flashcards

1
Q

What is a reputational risk

A

Threat to the way the company is perceived

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is the litigation risk

A

Damage as a consequence of legal action

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is a process risk

A

Resulting from poorly designed business processes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the people risk

A

Losses resulting from human error or deliberate actions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is a systems risk

A

Losses resulting from poorly designed systems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is an event risk

A

Threats from a one off incident such as fire

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is criminal law

A

The enforcement of particular forms of behaviour by the state which acts to ensure compliance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is civil law

A

To settle disputes between individuals and to provide remedies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is money laundering

A

Criminally obtained money or assets which are exchanged for clean money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are the three phases of money laundering

A

Placements
Layering
Integration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the procedure for reporting money laundering

A

Submit a suspicious activity reports (SAR)
Airport to your money laundering reporting officer (MLRO)
Advise the NCA if no money laundering reporting officer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is protected disclosure

A

Person is protected against allegations of breach of confidentiality

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is authorised disclosure

A

This may provide defence against charges of money laundering provided it is made before the act is carried out

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is tipping off

A

Telling the potential offender of money laundering necessary authorities have been informed.
Disclose anything that might prejudice an investigation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is the penalty for tipping off

A

Maximum five years imprisonment and/or unlimited fine.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is due diligence

A

Customer due diligence must be applied to all clients before services are provided to them.

17
Q

What are the three elements to customer due diligence for new clients.

A

Find out who the client claims to be.
Satisfy you know who the beneficial owners are.
Obtain information on the purpose and intended nature of the transaction.

18
Q

What is whistleblowing

A

Disclosing information that is evidence of illegality gross waste, waste mis-management abuse of power and specific danger to the public health and safety.

19
Q

What are the operational risks?

A 
Reputational risk
Litigation risk
Process risk
People risk
Systems risk
Event risk

Ethics (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions