White collar and organised crime

Question 1

Who was convicted of fraud and obstruction in 2007?

Answer 1

Conrad Black

Question 2

Is white collar crime usually dealt with criminally or non-criminally?

Answer 2

Non-criminally

Question 3

What replaced then Serious Organised Crime Agency (SOCA) and why?

Answer 3

The National Crime Agency (NCA) because SOCA was not arresting enough people.

Question 4

How much does the UN confiscate a year?

Answer 4

£250 million max

Question 5

The Financial Conduct Authority is part of the prosecution bodies in England and Wales. What does it involve?

Answer 5

Prosecution of insider trading and money laundering

Question 6

Which Act requires the financial institutions in the US to assist US government agencies to detect and prevent money laundering?

Answer 6

Bank Secrecy Act (1970)

Question 7

Within the Bank Secrecy Act (1970) how much does a cash purchase have to be to have to keep a record of and file a report on it?

Answer 7

Over £10,000

Question 8

What is Terry Adams known as and what did he do?

Answer 8

1. Known as the British ‘god father of crime’

2. Failed to report his income

Question 9

What 4 powers do fraud fighters have?

Answer 9

1. Telephone-tapping and bugging
2. Financial Reporting Orders
3. Serious Crime Prevention Orders - restrict you to try and disrupt potential criminal activity
4. If there are reasonable grounds custom officers can seize cash at the border - if the cash is crime proceeds, used for unlawful conduct and more than £1000

Question 10

Which sector has the highest amount of IDENTIFIED fraud?

Answer 10

Individuals with £9.1 billion

Question 11

What sector has the highest amount of HIDDEN fraud?

Answer 11

The public sector with £19.9 billion

Question 12

What does the Financial Action Task Force (1989) do?

Answer 12

Develop policies to combat money laundering and terrorism financing.