Bribery and money laundering

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An introduction to the Bribery Act and recent developments in Money Laundering by Marie Dancer and covering general bribery offences, bribery of foreign public officials, failure of commercial organisations to prevent bribery, MOJ guidance on the Bribery Act and Case Examples.

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Bribery and money laundering

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

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