The following Practice Compliance practice note provides comprehensive and up to date legal information covering:
This Practice Note explains counter-terrorist financing (CTF), including the offences and obligations contained in the Terrorism Act 2000 (TA 2000) and related legislation. It outlines what terrorist financing is, how it relates to the anti-money laundering (AML) regime and why it is important for law firms.
Terrorists need funds to plan and carry out attacks. TA 2000 criminalises both the participation in terrorist activities and terrorist financing.
In general terms, terrorist financing is the provision or collection of funds from legitimate or illegitimate sources with the intention or in the knowledge that they should be used to carry out any act of terrorism, whether or not those funds are in fact used for that purpose.
Counter-terrorist financing (CTF) and AML are different concepts, albeit with similar aims. The CTF and AML regimes run together in UK legislation. Many of the provisions of the Proceeds of Crime Act 2002 (POCA 2002) and TA 2000 closely mirror one another and the definitions in each are deliberately matched. Both Acts run parallel to the Money Laundering Regulations 2017 (MLR 2017), SI 2017/692 in terms of required systems and controls.
Both AML and CTF regimes require a risk-based approach under MLR 2017. However, since terrorist funds can originate from a legitimate source, it can be much harder to detect. The risk-based approach, permitted by the
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The principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is irrelevant as D
This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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