Financial Crime Definition in United Kingdom: A Comprehensive Overview
In the United Kingdom, financial crime refers to any criminal conduct relating to money or financial services or markets. This definition is intentionally broad and encompasses a wide range of offenses, including fraud, dishonesty, misconduct in or misuse of information relating to a financial market, handling the proceeds of crime, and breaches of data security.
What Constitutes Financial Crime?
According to section 1H(3) of the Financial Services and Markets Act 2000 (FSMA 2000), financial crime includes:
- Fraud
- Tax evasion
- Financial sanctions
- Bribery
- Corruption
- Money laundering
and more. This means that any conduct that is deemed illegal and related to finance can be considered a form of financial crime.
Resources for Legal Professionals
For legal professionals seeking to stay up-to-date on the latest developments in this area, LexisNexis offers a range of resources, including:
- 274 practice notes
- 32 precedents
- 27 Q&As related to financial crime
- Latest news articles on financial crime (over 2,000 available)
Tools for Streamlining Legal Work
To stay ahead of the curve and streamline legal work, LexisNexis offers a range of tools, including:
- Instant clarification on points of law
- Smart search capabilities
- Workflow tools
- Access to 41 practice areas
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