Under the Proceeds of Crime Act 2002, what is the offence of 'tipping off'?

Answer options:

Failing to report a suspicion of money laundering to the nominated officer.

Disclosing information that is likely to prejudice a money laundering investigation.

Assisting a client to hide the proceeds of criminal conduct.

Accepting cash payments over €10,000.

How to approach this question

Define the specific money laundering offence of 'tipping off'.

Full Answer

B.Disclosing information that is likely to prejudice a money laundering investigation.✓ Correct

Under s.333A of the Proceeds of Crime Act 2002, 'tipping off' occurs when a person in the regulated sector discloses that a suspicious activity report has been made, or that an investigation is underway, in a way that is likely to prejudice that investigation.

Common mistakes

Confusing 'tipping off' with 'failure to disclose'.

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Practice the full ACCA LW — Corporate and Business Law Practice Exam 1

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Under the Proceeds of Crime Act 2002, what is the offence of 'tipping off'?

How to approach this question

Full Answer

Common mistakes

Practice the full ACCA LW — Corporate and Business Law Practice Exam 1

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