Download - Bribery and money laundering
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Introduction to the Bribery Act and recent developments in Money Laundering.
Marie Dancer
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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
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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
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Bribery Act Introduction and Money Laundering Update
General Bribery Offences
• Function or Activity
• Improper Performance
• Expectation
• Territorial Application
• Defences
• Penalties
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Bribery Act Introduction and Money Laundering Update
Bribery of foreign public officials
• Definition
• Penalties
• Prosecution against individuals – consent or connivance of a senior officer
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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
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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
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Bribery Act Introduction and Money Laundering Update
Case law examples
• Previous case law
• Cases under the Bribery Act
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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
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Bribery Act Introduction and Money Laundering Update
Money Laundering Introduction
• What is Money Laundering?
• How does Money Laundering work?
• SOCA
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Bribery Act Introduction and Money Laundering Update
Principal Money Laundering Offences
• Criminal Property
• Concealing
• Arrangements
• Acquisition, Use and Possession
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Bribery Act Introduction and Money Laundering Update
Defences to Principal Money Laundering Offences
• Authorised Disclosure
• Reasonable Excuse
• Adequate Consideration
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Bribery Act Introduction and Money Laundering Update
Failure to Disclose
• Knowledge / Suspicion / ‘ought to’
• Regulated Sector
• Can identify person / proceeds
• Failure to Disclose
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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’
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Bribery Act Introduction and Money Laundering Update
Tipping Off
• Offence
• Defence
• Recent Case
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Bribery Act Introduction and Money Laundering Update
Money Laundering Regulations
• Reporting
• Customer Due Diligence
• Record Keeping
• Policies
• Training
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Bribery Act Introduction and Money Laundering Update
Money Laundering Regulations (cont)• Registration
• Recent Developments
• Accountants in the news
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Bribery Act Introduction and Money Laundering Update
Miscellaneous Issues• Production Orders
• Warrants
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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