bribery and money laundering
Post on 26-May-2015
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Introduction to the Bribery Act and recent developments in Money Laundering.
Marie Dancer
Bribery Act Introduction and Money Laundering Update
Introduction• General Bribery Offences
• Bribery of foreign public officials
• Failure of commercial organisations to prevent bribery
• MOJ Guidance on the Bribery Act
• Case Examples
• The next steps
Bribery Act Introduction and Money Laundering Update
General Bribery Offences
• Offences of Bribing Another▫ Case 1▫ Case 2
• Offences relating to being bribed▫ Case 3▫ Case 4▫ Case 5▫ Case 6
Bribery Act Introduction and Money Laundering Update
General Bribery Offences
• Function or Activity
• Improper Performance
• Expectation
• Territorial Application
• Defences
• Penalties
Bribery Act Introduction and Money Laundering Update
Bribery of foreign public officials
• Definition
• Penalties
• Prosecution against individuals – consent or connivance of a senior officer
Bribery Act Introduction and Money Laundering Update
Failure of commercial organisations to prevent bribery
• Definition of offence
• Penalties
• Relevant Commercial Organisations
• Associated Person
• Adequate Procedures
• Facilitation Payments
• Corporate Hospitality
Bribery Act Introduction and Money Laundering Update
MOJ Guidance
1. Proportionate procedures
2. Top level commitment
3. Risk Assessment
4. Due diligence
5. Communication (including training)
6. Monitoring and review
Bribery Act Introduction and Money Laundering Update
Case law examples
• Previous case law
• Cases under the Bribery Act
Bribery Act Introduction and Money Laundering Update
Bribery Act – the next steps
• Read the CIMA and MOJ guidance
• Prepare/review anti bribery policies and procedures
• Train staff
• Consider updating risk assessments
• Seek legal advice if unsure
Bribery Act Introduction and Money Laundering Update
Money Laundering Introduction
• What is Money Laundering?
• How does Money Laundering work?
• SOCA
Bribery Act Introduction and Money Laundering Update
Principal Money Laundering Offences
• Criminal Property
• Concealing
• Arrangements
• Acquisition, Use and Possession
Bribery Act Introduction and Money Laundering Update
Defences to Principal Money Laundering Offences
• Authorised Disclosure
• Reasonable Excuse
• Adequate Consideration
Bribery Act Introduction and Money Laundering Update
Failure to Disclose
• Knowledge / Suspicion / ‘ought to’
• Regulated Sector
• Can identify person / proceeds
• Failure to Disclose
Bribery Act Introduction and Money Laundering Update
Exceptions to failure to disclose• Professional Legal Adviser
• Privileged Circumstances
• Privilege for accountants
• Reasonable Excuse
• Inadequate Training – ‘ought to’
Bribery Act Introduction and Money Laundering Update
Tipping Off
• Offence
• Defence
• Recent Case
Bribery Act Introduction and Money Laundering Update
Money Laundering Regulations
• Reporting
• Customer Due Diligence
• Record Keeping
• Policies
• Training
Bribery Act Introduction and Money Laundering Update
Money Laundering Regulations (cont)• Registration
• Recent Developments
• Accountants in the news
Bribery Act Introduction and Money Laundering Update
Miscellaneous Issues• Production Orders
• Warrants
Bribery Act Introduction and Money Laundering Update
RICHARD NELSON LLPExperts in:
• Financial Crime• Regulatory Issues• Professional Disciplinary (solicitors, accountants, medics)• Directors Disqualification• Civil/Commercial Litigation• Family Law• Road Traffic• Wills & probate
Offices in London, Nottingham, Manchester, Birmingham, Bristol and Cardiff
www.richardnelsonllp.co.uk
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