Assignment on finance law/business law

PART A

Prepare a flow diagram illustrating the relationship between  international law and local law (England and Wales).  

(Tip to students:   Vienna – Palermo – EC Directives – POCA 2002, Part 7 – Money Laundering Regs 2007)

PART B

1.         How do you account for the increase in organised crime and money laundering?

2.         Explain the different ways in which money laundering offences can be committed  under the Proceeds of Crime Act 2002, part 7.

3.         Give examples of financial crime ie the specific offence.  What is the source of your example?

4.         Why do you think it might be easier to establish a money laundering offence  rather than a Theft Act 1968 related offence? (Tip to students:  knowledge of potential defendant).

PART C

Please read the following scenario and see if you can identify any money laundering issues.

Miss Wantmore (W) and Miss Hazbene (H) are the joint  owners of a small, local event management agency specialising in outdoor / adventure activities for the over 50s. W and H are civil partners whose business is renowned for its green credentials.  Earlier today as they were on their way to lunch they were approached by a collector with a charity collection tin.  W asked what the charity was and was told by the collector, that it was for an organisation called ‘Climate is Cool’. H dragged W away  and told her to call the police.  H explained that  ‘Climate is Cool’  are violently opposed to green policies as well as those known to be practising alternative life styles.  The group is suspected of recently orchestrating a series of attacks up and down the country.

W and H on their way home, bumped into their friendly bank manager, Mr Alcock (A).  They told A about their encounter with the charity collector.

The next day, A is approached by a person wishing to open a business account in the name of ‘Climate is Cool’.

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