Types of Business Crimes in UK

Updated on Thursday 26th May 2016

Types of Business Crimes in UK Image
Business crimes, like fraud cases or money laundering, are inspected in the United Kingdom by the Financial Conduct Authority (FCA), which has the legal power to give penalties for enterprises that are suspected of financial crimes. Money laundering cases, investment fraud, bribery, and corruption are all major problems that can be encountered in the U.K. and you will need a defence solicitor in London if you get involved in such legal issues. 
 

Money laundering cases

The money laundering term is used to define the method by which criminals disguise the original ownership and control of the profits made through criminal conduct by making such proceeds seem to have come from a legitimate cause. The procedures by which illegally derived possessions may be laundered are widespread. Every year, in the United Kingdom, billions of dollars of criminally derived money are laundered through financial institutions, according to statistics in this domain.
 

Investment fraud

The investment fraud is an arrangement or deception relating to investments that affect an individual or a corporation. Here we mention prime bank investments schemes, illegal trades, fraudulent manipulation of the stock market. Prime bank investments schemes describe legitimate financial societies that issue investments and these schemes frequently claim false associations with organizations like the International Chamber of Commerce (ICC) and International Monetary Fund (IMF). Illegal trades or illegal insider trading refer to company insiders that violate their firm’s confidentiality and secretly share or sell private data or records to other corporation.

Fraudulent manipulation of the stock market involves situations where telemarketers or spammers use convincing procedures to realize attractive pictures of frequently unsuccessful investments over the phone or through unwanted emails.
 

Bribery

Bribery is an act of taking or getting something with the intention of influencing the receiver in some way favorable to the party offering the bribe. Bribery is considered illegal and it is punished with jail time or stiff fines if authorities find out about the inducement.
 

Fraud

Fraud refers to deliberate deception in order to secure an unfair or illegal profit or to leave a victim without his legal rightsFraud itself can be a civil wrong, a criminal wrong or it may cause no money loss, possessions or legal right, but still be a part of another civil or criminal offence. The purpose of fraud can be monetary profits and other welfares.

Our team of defence solicitors in London is specialized in a wide range of criminal offences that include also cases of business crimes, so please feel free to contact us.