Financial crime is a broad term that encompasses a number of activities. In short, it refers to the deliberate misuse and abuse of financial systems for personal or corporate gain. As such, it tends to be prosecuted under a variety of different classifications, all of which can broadly be termed financial crime.
There are various types of offences under the Fraud Act 2006, including fraud by false representation, fraud by failing to disclose information, and fraud by abuse of position. Fraud can be defined as criminal deception which results in financial gain to a person or corporate or loss to another.
Money laundering investigations can be targeted towards individuals and/or corporations. Chapter 7 of the Proceeds of Crime Act 2002 captures money laundering offences, ranging from the concealment of assets to facilitate organised crime through to corporate offences such as failing to disclose and tipping off for FCA regulated companies.
Money laundering in its simplest terms can be defined as transferring or concealing the origins of illegally obtained funds, by means of transfers involving banks or legitimate companies. In certain cases, money laundering schemes use a web of seemingly legitimate companies to disguise the origins of illegitimate funds, using placement and extraction repeatedly; this is called layering. This activity is designed to prevent authorities or litigants from the tracing the transactions.
The Bribery Act 2010 makes it an offence to offer, give, promise or; request, accept or agree to accept, a financial or other advantage in exchange for improperly performing a relevant function or activity. The Act also makes it an offence for a corporation that fails to prevent bribery within its organisation or associated persons.
Examples of bribery might include the following:
If you’ve been accused of financial crime, the consequences can be serious. If you find yourself in this position, it’s important to seek legal advice as soon as possible.
Jeremy Gordon is regularly instructed in some of the most complex financial crime cases.
We strive for excellence and provide our clients with access to a team of diligent, experienced lawyers who are able to provide unrivalled, discrete representation with an emphasis on protecting you or your company’s reputation.
We are regularly instructed by company directors who have been contacted by various government agencies in respect of a criminal or civil investigations.
Contact London +44 7700 158304 or Manchester +44 7700 164107. Alternatively you can email info@jeremygordon.co.uk
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