Corruption and Economic Development

<p>Lack of enforcement of environmental regulations leads to environmental damage. (D)</p> Signup and view all the answers

<p>It leads to the depletion of national wealth. (B)</p> Signup and view all the answers

<p>To hide the origin of illicit funds. (A)</p> Signup and view all the answers

<p>It leads to the diversion of public funds for personal gain. (D)</p> Signup and view all the answers

<p>By using money laundering schemes. (C)</p> Signup and view all the answers

<p>Promoting cooperation between nations to share information and expertise. (A)</p> Signup and view all the answers

<p>Establishing a global council for financial transparency. (D)</p> Signup and view all the answers

<p>To combat tax evasion and financial fraud within the European Union. (D)</p> Signup and view all the answers

<p>It acts as a platform for collaboration between tax enforcement agencies. (B)</p> Signup and view all the answers

<p>To protect the integrity of financial markets and institutions. (D)</p> Signup and view all the answers

<p>Increased economic instability and weakening of governance. (B)</p> Signup and view all the answers

<p>To prevent tax evasion and financial fraud. (B)</p> Signup and view all the answers

<p>Raising awareness about the risks and consequences of money laundering. (D)</p> Signup and view all the answers

<p>To promote global economic stability by enhancing international monetary cooperation, trade and sustainable growth, recognizing the impact of financial crime on these objectives. (D)</p> Signup and view all the answers

<p>The potential for widespread economic destabilization. (C)</p> Signup and view all the answers

<p>By providing technical assistance and financial resources to countries to strengthen their AML/CFT frameworks. (B)</p> Signup and view all the answers

<p>To deter criminals from committing illegal activities by reducing their potential profits. (C)</p> Signup and view all the answers

<p>By increasing the potential for cross-border criminal activity and terrorism. (D)</p> Signup and view all the answers

<p>By providing financial assistance with conditions attached to strengthen AML/CFT measures. (B)</p> Signup and view all the answers

<p>To provide guidance and technical assistance to countries to strengthen their AML/CFT frameworks. (A)</p> Signup and view all the answers

<p>The fear of economic destabilization caused by over-exposure to illegally derived funds. (A)</p> Signup and view all the answers

<p>To disguise the source and ownership of illegal funds (A)</p> Signup and view all the answers

<p>Using a credit card to make small purchases (B)</p> Signup and view all the answers

<p>Money launderers are easy to spot (A)</p> Signup and view all the answers

<p>Investing in real estate (A)</p> Signup and view all the answers

<p>Criminals often skip stages or use alternative methods (C)</p> Signup and view all the answers

<p>They are less likely to engage in money laundering because they generate smaller sums. (C)</p> Signup and view all the answers

<p>Self-laundering and direct deposits are both considered money laundering practices. (B)</p> Signup and view all the answers

<p>Depositing a large sum of cash into a bank account and claiming it as legitimate income (A)</p> Signup and view all the answers

<p>Reduced funding for vital public services (B)</p> Signup and view all the answers

<p>The illegal non-payment or under-payment of taxes (A)</p> Signup and view all the answers

<p>Weak AML frameworks promote tax evasion by making it easier to hide illicit financial flows. (A)</p> Signup and view all the answers

<p>By encouraging international cooperation to deter, detect, investigate, and prosecute tax crimes. (D)</p> Signup and view all the answers

<p>Lack of transparency. (B)</p> Signup and view all the answers

<p>To avoid paying taxes. (D)</p> Signup and view all the answers

<p>They believe it is a global issue that requires collaboration. (D)</p> Signup and view all the answers

<p>To increase government revenue. (A)</p> Signup and view all the answers

<p>Import tariffs (A)</p> Signup and view all the answers

<p>To freeze the funds and economic resources of individuals and entities named in UN lists (C)</p> Signup and view all the answers

<p>To influence the behavior of other states and alter their actions (B)</p> Signup and view all the answers

<p>It is an intergovernmental organization of Arab states in the Middle East and North Africa (A)</p> Signup and view all the answers

<p>Suspended Syria from the organization (C)</p> Signup and view all the answers

<p>Sanctions imposed by regional organizations like the EU and the Arab League (A)</p> Signup and view all the answers

<p>UK nationals, including those outside the UK, and bodies incorporated under UK law (C)</p> Signup and view all the answers

<p>The reinstatement of sanctions by the Arab League on Syria (D)</p> Signup and view all the answers

The process of making illegally obtained money appear legitimate.

Money obtained through illegal activities.

When criminals deposit their illegal gains into their own accounts.

A model outlining the stages of money laundering: placement, layering, and integration.

Significant amounts of money typically involved in laundering.

Funds put into property as a method of laundering money.

Using laundered money to pay for daily costs.

Techniques used to hide the illegal origin of funds.

Corruption is the abuse of power for personal gain, undermining public resources and trust.

Corruption depletes national wealth by misallocating public resources to benefit the corrupt.

Corruption undermines trust in political systems, eroding societal norms and engagement.

Corruption leads to the exploitation of natural resources and environmental laws are ignored.

Corruption hinders fair competition and deters investment by creating an unfair market.

Offering money or gifts to influence a public official's actions or decisions.

Corruption leads to public funds being invested in high-profile projects rather than urgent needs.

The illegal non-payment or under-payment of taxes.

Anti-Money Laundering framework designed to prevent financial crimes.

Illegal movement of money across borders, often linked to crime.

Organisation for Economic Co-operation and Development that combats tax evasion.

Guidelines by OECD for countries to combat tax crime effectively.

Collaboration among countries in law enforcement against tax evasion.

Finances derived from taxes that support community needs like health.

Insufficient legal frameworks that allow tax evasion to occur.

The process of providing financial support to terrorist organizations.

Legal and regulatory measures to prevent money laundering and terrorist financing.

The IMF supports global economic stability by combating money laundering.

Agencies that collect and analyze information regarding financial transactions.

Economic instability often caused by illegal financial activities.

Laws aimed at depriving criminals of their illegal gains.

Countries significantly influenced by drug trafficking and the criminal economy.

Collaboration between countries to combat money laundering and terrorism financing.

Tax crimes must be recognized as a basis for money laundering enforcement.

Agreements aimed at ensuring tax compliance globally.

Exchanging tax data between jurisdictions to combat evasion.

Coalition of countries working together on tax fraud enforcement.

Assistance provided to help countries enforce tax standards.

Increasing understanding of tax obligations among individuals and businesses.

Establishing legal penalties for tax crimes.

Prevention is crucial as it destabilizes economies and weakens governance.

An intergovernmental organization of Arab states in the Middle East and North Africa.

All UN member states must freeze assets of specified legal persons under international law.

Sanctions can include trade bans, travel bans, and financial freezes imposed by organizations.

A structure where regional organizations like the EU and Arab League enforce sanctions.

The UK imposes sanctions such as trade restrictions, travel bans, and financial freezes.

Syria was suspended from the Arab League due to government crackdowns during protests.

Actions taken to freeze the economic resources of named individuals or entities by member states.

Member states must report when they suspect matches to designated names in sanctions lists.