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 RICHARD NELSON LLP Experts in: Financial Crime Regulatory Issues Professional Disciplinary (solicitors, accountants, medics) Directors Disqualification Civil/Commercial Litigation Family Law Road Traffic Wills & probate Offices in London, Nottingham, Manchester, Birmingham, Bristol and Cardiff