Introduction to the Bribery Act and recent developments in Money Laundering.

Marie Dancer

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

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

Bribery Act Introduction and Money Laundering Update

General Bribery Offences

• Function or Activity

• Improper Performance

• Expectation

• Territorial Application

• Defences

• Penalties

Bribery Act Introduction and Money Laundering Update

Bribery of foreign public officials

• Definition

• Penalties

• Prosecution against individuals – consent or connivance of a senior officer

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

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

Bribery Act Introduction and Money Laundering Update

Case law examples

• Previous case law

• Cases under the Bribery Act

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

Bribery Act Introduction and Money Laundering Update

Money Laundering Introduction

• What is Money Laundering?

• How does Money Laundering work?

• SOCA

Bribery Act Introduction and Money Laundering Update

Principal Money Laundering Offences

• Criminal Property

• Concealing

• Arrangements

• Acquisition, Use and Possession

Bribery Act Introduction and Money Laundering Update

Defences to Principal Money Laundering Offences

• Authorised Disclosure

• Reasonable Excuse

• Adequate Consideration

Bribery Act Introduction and Money Laundering Update

Failure to Disclose

• Knowledge / Suspicion / ‘ought to’

• Regulated Sector

• Can identify person / proceeds

• Failure to Disclose

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’

Bribery Act Introduction and Money Laundering Update

Tipping Off

• Offence

• Defence

• Recent Case

Bribery Act Introduction and Money Laundering Update

Money Laundering Regulations

• Reporting

• Customer Due Diligence

• Record Keeping

• Policies

• Training

Bribery Act Introduction and Money Laundering Update

Money Laundering Regulations (cont)• Registration

• Recent Developments

• Accountants in the news

Bribery Act Introduction and Money Laundering Update

Miscellaneous Issues• Production Orders

• Warrants

Bribery Act Introduction and Money Laundering Update

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