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.
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