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Money laundering is the process of changing large amounts of money obtained from crimes, such as drug trafficking, into origination from a legitimate source. It is a crime in many jurisdictions with varying definitions. It is a key operation of organized crime.
Embezzlement is the act of withholding assets for the purpose of conversion of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type of financial fraud. For example, a lawyer might embezzle funds from the trust accounts of their clients; a financial advisor might embezzle the funds of investors; and a husband or a wife might embezzle funds from a bank account jointly held with the spouse.
Veronica Guerin was an Irish crime reporter who was murdered by drug lords. Born in Dublin, she was an athlete in school and later played on the Irish national teams for both football and basketball. After studying accountancy she ran a public-relations firm for seven years, before working for Fianna Fáil and as an election agent for Seán Haughey. She became a reporter in 1990, writing for the Sunday Business Post and Sunday Tribune. In 1994 she began writing exposes about organised crime for the Sunday Independent. In 1996 she was fatally shot in a contract killing while stopped at a traffic light. The shooting caused national outrage in Ireland. Investigation into her death led to a number of arrests and convictions.
Confiscation is a legal form of seizure by a government or other public authority. The word is also used, popularly, of spoliation under legal forms, or of any seizure of property as punishment or in enforcement of the law.
The Assets Recovery Agency (ARA) was a non-ministerial government department in the United Kingdom. It was established under the Proceeds of Crime Act 2002 (POCA) to reduce crime by confiscating the proceeds of any crime. It was granted a new power of civil recovery through the High Court, and could also take over the powers of the HM Revenue and Customs (HMRC) to levy tax without identifying a source for taxed income.
The Criminal Assets Bureau (CAB) is a law enforcement agency in Ireland. The CAB was established with powers to focus on the illegally acquired assets of criminals involved in serious crime. The aims of the CAB are to identify the criminally acquired assets of persons and to take the appropriate action to deny such people these assets. This action is taken particularly through the application of the Proceeds of Crime Act 1996. The CAB was established as a body corporate with perpetual succession in 1996 and is founded on the multi-agency concept, drawing together law enforcement officers, tax officials, social welfare officials as well as other specialist officers including legal officers, forensic analysts and financial analysts. This multi-agency concept is regarded by some as the model for other European jurisdictions.
Thomas "Slab" Murphy is an Irish republican, believed to be a former Chief of Staff of the Provisional Irish Republican Army. His farm straddles County Armagh and County Louth on the border between Northern Ireland and the Republic of Ireland. In December 2015, Murphy was found guilty on nine counts of tax evasion following a lengthy investigation by the Criminal Assets Bureau of the Republic of Ireland. In February 2016, Murphy was jailed and sentenced to 18 months in prison. One of three brothers, Murphy is a lifelong bachelor who lived on the Louth side of his farm before his imprisonment.
Civil recovery is the method in some legal systems employed to recover the proceeds of crime, instead of, or in addition to, criminal.
The Proceeds of Crime Act 2002 (c.29) (POCA) is an Act of the Parliament of the United Kingdom which provides for the confiscation or civil recovery of the proceeds from crime and contains the principal money laundering legislation in the UK.
The Police and Criminal Evidence Act 1984 (PACE) is an Act of Parliament which instituted a legislative framework for the powers of police officers in England and Wales to combat crime, and provided codes of practice for the exercise of those powers. Part VI of PACE required the Home Secretary to issue Codes of Practice governing police powers. The aim of PACE is to establish a balance between the powers of the police in England and Wales and the rights and freedoms of the public. Equivalent provision is made for Northern Ireland by the Police and Criminal Evidence Order 1989 (SI 1989/1341). The equivalent in Scots Law is the Criminal Procedure (Scotland) Act 1995.
Asset forfeiture or asset seizure is a form of confiscation of assets by the authorities. In the United States, it is a type of criminal-justice financial obligation. It typically applies to the alleged proceeds or instruments of crime. This applies, but is not limited, to terrorist activities, drug-related crimes, and other criminal and even civil offenses. Some jurisdictions specifically use the term "confiscation" instead of forfeiture. The alleged purpose of asset forfeiture is to disrupt criminal activity by confiscating assets that potentially could have been beneficial to the individual or organization.
Possession of stolen goods is a crime in which an individual has bought, been given, or acquired stolen goods.
The New South Wales Crime Commission is a statutory corporation of the Government of New South Wales. It is constituted by the Crime Commission Act 2012, the object of which is to reduce the incidence of organised crime and other serious crime in the state of New South Wales, Australia.
Financial crime is crime committed against property, involving the unlawful conversion of the ownership of property to one's own personal use and benefit. Financial crimes may involve fraud ; theft; scams or confidence tricks; tax evasion; bribery; sedition; embezzlement; identity theft; money laundering; and forgery and counterfeiting, including the production of counterfeit money and consumer goods.
Organised crime in Australia refers to the activities of various groups of crime families, organised crime syndicates or underworld activities including drug trafficking, contract killing, racketeering and other crimes in Australia.
John Gilligan is a convicted Irish gangster. He was given a 28-year prison sentence for the trafficking of commercial quantities of cannabis resin. On appeal, this sentence was reduced to 20 years, and in October 2013, he was released after serving 17 years.
International asset recovery is any effort by governments to repatriate the proceeds of corruption hidden in foreign jurisdictions. Such assets may include monies in bank accounts, real estate, vehicles, arts and artifacts, and precious metals. As defined under the United Nations Convention against Corruption, asset recovery refers to recovering the proceeds of corruption, rather than broader terms such as asset confiscation or asset forfeiture which refer to recovering the proceeds or instrumentalities of crime in general.
The National Crime Agency (NCA) is a national law enforcement agency in the United Kingdom. It is the UK's lead agency against organised crime; human, weapon and drug trafficking; cybercrime; and economic crime that goes across regional and international borders; but it can be tasked to investigate any crime. The NCA has a strategic role in which it looks at the bigger picture across the UK, analysing how criminals are operating and how they can be disrupted. To do this, it works closely with regional organised crime units (ROCUs), local police forces, and other government departments and agencies.
The Garda National Economic Crime Bureau – informally known as the Fraud Squad – is a specialised division of Ireland's national police force, the Garda Síochána, that investigates economic crimes. The Bureau operates as part of the Garda Special Crime Operations branch, and works alongside other sections of the force, as well as the external Office of the Director of Corporate Enforcement (ODCE), an agency tasked with investigating white-collar crime. The Economic Crime Bureau is responsible for the investigation of serious financial fraud and corruption. It was established in April 1996 and is based at Harcourt Square, Dublin 2. The GNECB is headed by an officer of Detective Chief Superintendent rank, who reports to the Assistant Commissioner of Special Crime Operations.
The Criminal Finances Act 2017 is an Act of the Parliament of the United Kingdom that amends the Proceeds of Crime Act 2002 to expand the provisions for confiscating funds to deal with terrorist property and proceeds of tax evasion.
References
- ↑ "Proceeds of Crime Act, 1996". Irishstatutebook.ie. 4 August 1996. Retrieved 10 July 2010.
- ↑ "Proceeds of crime legislation in Ireland". I-law.com. 1 March 2001. Retrieved 10 July 2010.
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