Chapter 3 - Predicate Offences of Financial Crime Flashcards Preview

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Flashcards in Chapter 3 - Predicate Offences of Financial Crime Deck (8)
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1

What does Article 23 of the UN Convention Against Crime (UNCAC) make a criminal offence?

Laundering the proceeds of crime when committed intentionally.

2

Which article makes money laundering a criminal offence?

Article 23 - UN Convention Against Crime

3

What does UNCAC Article 23 prohibit?

1a. Converting or transferring property whilst knowing it's a proceed of crime to cover it up.

1b. Concealment or disguising the true source, location, disposition, movement or ownership of property, knowing that it is a proceed of crime.

2a. Acquisition, possession or use of property knowing at the time of receipt that it is a proceed of crime.

2b. Participating or association with a conspiracy to commit, attempts to commit and aiding, abetting, facilitating and counselling the commission of any of the offences established in the article.

4

What are examples of predicate offences?

1. Fraud
2. Embezzlement
3. Bribery
4. Corruption

5

What is fraud?

Obtaining value by deceptive means where that value is in the form of goods and services.

6

What is embezzlement?

Act of dishonestly appropriating or secreting assets by one or more individuals to whom such assets have been entrusted.

7

What is bribery?

Giving of money or something of value with the intention of influencing the behaviour of the recipient.

Black's Law provides the definition.

8

What is corruption?

Abuse of power.