Combating Financial Crime – Quiz 06

Last Updated: June 2024

Table of Contents

CISI – Combating Financial Crime Quiz 06 is covered –
know international EU and US approaches to improving tax compliance • Foreign Account Tax Compliance Act (FATCA) • Crown Dependencies and Overseas Territories (CDOT) regulation • OECD’s Common Reporting Standard for Automatic Exchange of Financial Information (CRS) • EU’s list of non-cooperative tax jurisdictions
understand the difference between individual and corporate liability
know how tax evasion is detected
know the extra-territorial reach of the Act
know the offences introduced by the Criminal Finances Act (2017)
understand the liabilities corporate entities face from “Associated Persons”
know the meaning of strict liability and ‘reasonable procedures’
know the six principles for tax evasion prevention and their legal context
know the maximum penalties under the Act
know the purpose and application of financial sanctions screening in relation to • terrorist financing • proliferation finance • other foreign policy objectives

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