ExpertMedium2 marksMultiple Choice
Corporate fraudulent and criminal behaviourCorporate fraudulent and criminal behaviourMoney laundering
ACCA · Question 20 · Corporate fraudulent and criminal behaviour
Section A
Which TWO of the following are principal offences under the Proceeds of Crime Act 2002 (POCA) relating to money laundering?
Section A
Which TWO of the following are principal offences under the Proceeds of Crime Act 2002 (POCA) relating to money laundering?
Answer options:
A.
Concealing, disguising, converting, or transferring criminal property.
B.
Failing to prevent bribery by an associated person.
C.
Acquiring, using, or having possession of criminal property.
D.
Trading based on inside information.
How to approach this question
Identify the specific offences created by the Proceeds of Crime Act 2002 regarding the handling of criminal property.
Full Answer
The three principal money laundering offences under POCA 2002 are: concealing/disguising criminal property (s.327), arranging/facilitating the acquisition of criminal property (s.328), and acquiring/using/possessing criminal property (s.329).
Common mistakes
Confusing money laundering offences with bribery or insider dealing.
Practice the full ACCA LW — Corporate and Business Law Practice Exam 6
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