Law Related To Fraud Flashcards
(42 cards)
Which of the following is considered obstruction of justice?
A. Influencing a witness with bribes
B. Showing disrespect to a judge
C. Contacting a government investigator
D. Subpoenaing a government witness
A. Influencing a witness with bribes
The duty of loyalty means that people in a fiduciary relationship must act with such care as an ordinarily prudent person would employ in similar positions.
A. True
B. False
False
Which of the following is an element the government must prove to establish that an individual violated a law that criminalizes making false statements to government agencies?
A. The defendant made a false statement
B. The statement concerned a matter within the jurisdiction of a government agency
C. The false statement was material
D. All of the above
D. All of the above
Which of the following is one of the areas of primary concern in which the Organisation for Economic Co-operation and Development’s (OECD) Recommendation on Combating Bribery in International Business (the Recommendation) urges member states to take steps to combat the bribery of foreign public officials?
A. Tax systems and regulations
B. Laws and regulations regarding e-commerce
C. Public safety systems and regulations
D. Sensitive data protection laws
A. Tax systems and regulations
The UK Bribery Act has a broader application than the U.S. Foreign Corrupt Practices Act (FCPA) because, unlike the FCPA, it makes commercial bribery a crime.
A. True
B. False
True
Which of the following is an element that must be proven to establish a perjury offense?
A. The defendant made the statement with knowledge of its falsity
B. The defendant made a false statement while under oath
C. The defendant made a false statement that was material
D. All of the above
D. All of the above
Which of the following is an element that must be established to prove fraud based on the concealment of material facts?
A. The defendant failed to disclose a material fact that they had a duty to disclose
B. The defendant acted with intent to mislead or deceive the victim(s)
C. The defendant had knowledge of a material fact that they had a duty to disclose
D. All of the above
D. All of the above
The ABC Company, a UK company with securities that are registered in the United States, transferred $40,000 to a Japanese public official to influence the award of overseas contracts. This act would constitute a violation of the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act.
A. True
B. False
True
An action for fraud may be based on the concealment of material facts, but only if:
A. The victim had a duty in the circumstances to disclose.
B. The defendant had a duty in the circumstances to disclose.
C. The victim relied on the misrepresentation.
D. The defendant had a duty to investigate the material facts.
B. The defendant had a duty in the circumstances to disclose.
The U.S. Foreign Corrupt Practices Act (FCPA) has two major parts. The first part criminalizes the bribery of a foreign public official to obtain or retain business. The second part pertains to money laundering, requiring publicly traded companies to adopt policies, procedures, and internal controls reasonably designed to prevent money laundering.
A. True
B. False
False
The Organisation for Economic Co-operation and Development’s (OECD) Recommendation on Combating Bribery in International Business (the Recommendation) urges member states to combat the bribery of foreign public officials by taking steps to improve which of the following areas?
A. Banking and accounting requirements and practices
B. Tax systems and regulations
C. Laws and regulations related to public subsidies, licenses, and contract procurement
D. All of the above
D. All of the above
Craig and Donna each own 40% of the shares of Indiewealth and serve on its board of directors. Georgia is also a shareholder, but she is not a member of the board of directors. Donna dies, and her son, Steven, inherits her shares of Indiewealth and replaces her on the board. Steven, however, is inattentive to Indiewealth’s corporate affairs. During this time, Craig diverts corporate funds for personal use, and consequently, Indiewealth becomes insolvent. If Georgia decides to sue Steven for violating his fiduciary duties, under what theory is she likely to file the suit?
A. Violating the duty of loyalty
B. Violating the duty of reasonableness
C. Violating the duty of care
D. Violating the duty of responsibility
C. Violating the duty of care
Which of the following is a legal element that must be shown to prove a claim for fraudulent misrepresentation of material facts?
A. The victim failed to exercise due care in relying on the representation.
B. The defendant made a false statement (i.e., a misrepresentation of fact).
C. The defendant acted negligently.
D. The defendant had a duty to disclose the information.
B. The defendant made a false statement (i.e., a misrepresentation of fact).
To prove a conspiracy claim, the government must prove that the defendant knew all the details or objectives of the conspiracy, that the defendant knew the identity of all the participants in the conspiracy, and that the conspirators accomplished the purpose of the conspiracy.
A. True
B. False
False
To prove that a defendant committed perjury, the government prosecutor must show that the defendant, while in a court of law, knowingly made a false statement that influenced the jury’s decision.
A. True
B. False
False
In addition to prohibiting bribes to foreign officials for business purposes, the U.S. Foreign Corrupt Practices Act (FCPA) prohibits facilitating payments, or grease payments, made to foreign officials to facilitate the officials’ ability to perform their duties.
A. True
B. False
False
Which of the following is an element that must be established to prove fraud based on the concealment of material facts?
A. The defendant had knowledge of a material fact that concerned a matter within the jurisdiction of a government agency.
B. The defendant knew for certain the victim would be harmed.
C. The defendant acted with intent to mislead or deceive the victim(s).
D. The victim failed to exercise due care in relying on the defendant’s actions.
C. The defendant acted with intent to mislead or deceive the victim(s).
For a conflict of interest claim to be actionable, the conflict must be undisclosed.
A. True
B. False
True
Wire fraud is generally defined as the use of a country’s mail system to perpetrate fraud.
A. True
B. False
False
A defendant who destroys material documents or records that are intended to be used in a future criminal proceeding might be charged with obstruction of justice by the government.
A. True
B. False
True
Which of the following statements about the UK Bribery Act is INCORRECT?
A. Unlike the FCPA, the UK Bribery Act does not contain an explicit exception for facilitating payments.
B. The UK Bribery Act has a broader application than the FCPA because, unlike the FCPA, it makes commercial bribery a crime.
C. The UK Bribery Act exercises jurisdiction over all individuals and corporate entities for acts of corruption when any part of the offense occurs in the United Kingdom.
D. If an organization’s anti-corruption program complies with the FCPA, then it will also comply with the UK Bribery Act.
D. If an organization’s anti-corruption program complies with the FCPA, then it will also comply with the UK Bribery Act.
Which of the following is a legal element that must be shown to prove a claim for fraudulent misrepresentation of material facts?
A. The victim suffered damages because of the misrepresentation
B. The defendant knew the representation was false
C. The victim relied on the misrepresentation
D. All of the above
D. All of the above
In most countries, which of the following is something that a government prosecutor must prove to convict someone of the crime of making a false statement to the government?
A. The government was influenced by or suffered a loss because of the statement.
B. The statement was the result of a mistake or other innocent reason.
C. The individual acted knowingly and willfully when making the statement.
D. The individual made the statement directly to the government.
C. The individual acted knowingly and willfully when making the statement.
Which of the following is NOT a legal element that must be shown to prove a claim for official bribery?
A. The defendant gave or received something of value.
B. The government suffered damages as a result.
C. The defendant acted with corrupt intent.
D. The recipient was (or was selected to be) a public official.
B. The government suffered damages as a result.