Tesco Accounting Scandal Overview

<p>£129 million (A)</p> Signup and view all the answers

<p>£85 million (D)</p> Signup and view all the answers

<p>£1.1 billion (B)</p> Signup and view all the answers

<p>November 2014 (D)</p> Signup and view all the answers

<p>Market abuse (C)</p> Signup and view all the answers

<p>To protect his company's reputation (D)</p> Signup and view all the answers

<p>Manipulating price to the detriment of investors (B)</p> Signup and view all the answers

<p>Eight weeks imprisonment and a $30,000 fine (D)</p> Signup and view all the answers

<p>To make illicit property appear legal (D)</p> Signup and view all the answers

<p>Criminals concealing sources of illegal funds (C)</p> Signup and view all the answers

<p>Increased share prices significantly (A)</p> Signup and view all the answers

<p>Distorted perception of asset value (D)</p> Signup and view all the answers

<p>Breaking the evidence link between criminals and property (A)</p> Signup and view all the answers

<p>601 months (B)</p> Signup and view all the answers

<p>5.8% (C)</p> Signup and view all the answers

<p>Manipulating investors through misleading financial reports. (B)</p> Signup and view all the answers

<p>Intellectual property fraud (D)</p> Signup and view all the answers

<p>Acquiring new investors to pay existing ones. (A)</p> Signup and view all the answers

<p>€412 billion (D)</p> Signup and view all the answers

<p>He was sentenced to 108 months in prison. (C)</p> Signup and view all the answers

<p>Counterfeiting luxury brand products (D)</p> Signup and view all the answers

<p>Offering detailed investment reports. (A)</p> Signup and view all the answers

<p>€60 billion (A)</p> Signup and view all the answers

<p>$20 million (C)</p> Signup and view all the answers

<p>96 convictions (B)</p> Signup and view all the answers

<p>A judgment of over $5.5 million was against him. (D)</p> Signup and view all the answers

<p>Mechanical failures leading to accidents (C)</p> Signup and view all the answers

<p>He improved his schemes by avoiding detection. (C)</p> Signup and view all the answers

<p>By offering low-risk, high-yield earnings. (C)</p> Signup and view all the answers

<p>To conceal the original source of criminal proceeds (D)</p> Signup and view all the answers

<p>Introducing illicit money into the financial system (C)</p> Signup and view all the answers

<p>By converting cash into high-value goods and reselling them (A)</p> Signup and view all the answers

<p>It complicates the ability to trace the source of funds (D)</p> Signup and view all the answers

<p>Cash, high-value goods, and other forms (C)</p> Signup and view all the answers

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

<p>It obscures the illegal origin through complex transactions (C)</p> Signup and view all the answers

<p>The bank may become suspicious of those deposits (D)</p> Signup and view all the answers

<p>White-collar, corporate, occupational, and economic crime (C)</p> Signup and view all the answers

<p>Desire to support a charity (A)</p> Signup and view all the answers

<p>It fails to track all illegal funds (B)</p> Signup and view all the answers

<p>Anyone with access to sensitive information (B)</p> Signup and view all the answers

<p>To prevent and detect financial crime (B)</p> Signup and view all the answers

<p>Trading based on non-public, material information (B)</p> Signup and view all the answers

<p>Enhance customer due diligence (A)</p> Signup and view all the answers

<p>Both involve concealing the source of funds (C)</p> Signup and view all the answers

The practice of intentionally manipulating financial records to create a false impression of a company's financial performance.

An individual who reports suspected illegal or unethical activities within a company.

An official statement that details a company's current financial performance and outlook.

An investigation by a government agency focused on suspected criminal activity related to financial practices.

An agreement that allows prosecution to be withheld if the company meets specific conditions, usually involving a significant fine.

A regulator responsible for overseeing financial markets and protecting investors.

An instance of providing misleading information about a company's financial situation to manipulate the market.

A formal payment levied against a company for violating regulations or engaging in illegal activities.

A type of fraud where investors are tricked by misleading financial information, resulting in stolen capital or income.

A fraudulent investment scheme where early investors are paid returns with money from new investors, creating a pyramid structure.

Example of a Ponzi scheme where Charles Ponzi promised excessive returns, costing victims $20 million when it collapsed.

The act of misleading investors with false promises of high-yield earnings and returns to entice them to invest their money.

A common practice in Ponzi schemes, where the perpetrator uses newly invested money to pay earlier investors, creating an illusion of legitimacy while actually stealing funds.

A consequence of Ponzi schemes when the flow of new investors dries up, leading to the collapse of the scheme and financial losses for investors.

Financial crimes involving the fraudulent use of electronic communication channels, such as wire transfers, to steal money.

The act of concealing and hiding stolen money and assets in multiple countries to evade detection and prosecution.

The use of criminal funds (proceeds of crime) to make them appear legitimate.

The first stage of money laundering, where criminal proceeds are introduced into the financial system.

The second stage of money laundering, where criminal funds are moved through various transactions to obscure their origin.

The final stage of money laundering, where criminal proceeds are integrated into the legitimate economy.

The motivation to conceal or distance criminal property from its illegal origin.

The motivation to use criminal proceeds for personal gain or enjoyment.

The practice of concealing the illegal source of funds or property.

Intellectual property fraud refers to the illegal use, theft, or infringement of intellectual property rights like trademarks, brands, patents, designs, copyrights, or customer lists. This can be done by employees or external parties.

Counterfeiting involves creating and selling fake versions of genuine products. This can be anything from luxury goods like designer clothes to vital products like medical equipment.

Counterfeit goods can be harmful due to their potential for causing injury or illness. Fake products often contain substandard materials and lack quality control, leading to dangerous consequences.

The economic impact of counterfeiting is significant. Counterfeit products steal revenue from legitimate businesses and cost governments tax revenue.

Manipulating market information to deceive investors and gain an unfair advantage.

Counterfeit goods represent a substantial part of international trade. According to studies, counterfeit products can comprise a significant percentage of global trade, impacting several industries.

The deliberate process of creating misleading price movements in financial markets.

Counterfeit products have a serious impact on the EU economy. Studies show they represent a significant percentage of imports and cost the European economy billions of euros annually.

Using false information or misleading impressions to create a false perception of a company's financial health.

The amount of money generated from counterfeiting is higher than the income from illegal drugs. Counterfeit products are a sizable and profitable criminal enterprise.

Counterfeit products are especially damaging because they can steal away valuable intellectual property rights. Brands and trademarks are vital for businesses, and counterfeiting undermines their value.

The act of concealing the source of criminal proceeds to avoid detection by law enforcement.

Preventing authorities from connecting criminals to illegally obtained assets.

Financial crime includes white-collar crime, corporate crime, occupational crime, and economic crime.

Fraudulent activities that involve deception, manipulation, or abuse of trust for personal gain.

Trading securities based on private, non-public information, which gives an unfair advantage.

Manipulating financial markets by spreading false or misleading information to gain an advantage.

The process of concealing the origins of illegally obtained money to make it appear legitimate.

Financial institutions are required to identify and prevent money laundering activities.

Terrorist organizations may utilize financial institutions for funding their operations.

Money laundering and terrorist financing both involve hiding the origin of funds and disguising their activities.