Financial Crime World

Counter-Terrorism Regulations in the UK

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The Counter-Terrorism Regulations in the UK outline various offenses and penalties related to designated persons, breach of requirements under Treasury licenses, breach of reporting obligations, failure to comply with requests for information, and other offenses.

These offenses relate to providing financial or economic resources, or facilitating business activities with a designated person.

Benefiting from a Designated Person

  • Providing financial or economic resources, or facilitating business activities with a designated person.
  • Penalty: Imprisonment for up to 12 months in England and Wales, 6 months in Scotland, or 6 months in Northern Ireland, or a fine (up to £5,000 in Scotland or Northern Ireland).

Circumventing Prohibitions

  • Directly or indirectly bypassing regulations related to designated persons.
  • Penalty: Imprisonment for up to 7 years or a fine.

Breach of Requirements under Treasury Licenses

These offenses relate to knowingly providing false information, failing to comply with conditions, and other breaches of requirements.

Knowingly Providing False Information

  • Providing incorrect information to obtain a Treasury license.
  • Penalty: Imprisonment for up to 12 months in England and Wales, 6 months in Scotland, or 6 months in Northern Ireland, or a fine (up to £5,000 in Scotland or Northern Ireland).

Failing to Comply with Conditions

  • Breaching the terms and conditions of a Treasury license.
  • Penalty: Imprisonment for up to 12 months in England and Wales, 6 months in Scotland, or 6 months in Northern Ireland, or a fine (up to £5,000 in Scotland or Northern Ireland).

Breach of Reporting Obligations

These offenses relate to failure to inform the Treasury, providing false information, and other breaches of reporting obligations.

Failure to Inform the Treasury

  • Failing to notify the Treasury about knowledge or reasonable suspicion that someone is a designated person.
  • Penalty: Imprisonment for up to 6 months in England and Wales, Scotland, or Northern Ireland, or a fine (up to level 5 on the standard scale).

Failure to Provide Information

  • Failing to supply the Treasury with relevant information.

Failure to Disclose Funds

  • Failing to notify the Treasury about funds held for a designated person.

Failure to Comply with Requests for Information

These offenses relate to failure to provide information, providing false information, and other breaches of requests for information.

Failure to Provide Information

  • Refusing to provide information in response to a request from the Treasury.
  • Penalty: Imprisonment for up to 12 months, or a fine (up to level 5 on the standard scale).

Providing False Information

  • Knowingly and recklessly providing incorrect information.

Evasion of Requests

  • Intentionally avoiding or obstructing Treasury requests for information.
  • Penalty: Imprisonment for up to 12 months, or a fine (up to level 5 on the standard scale).

Other Offenses

These offenses relate to breach of confidential information provision and other breaches.

Breach of Confidential Information Provision

  • Disclosing confidential information without authorization.
  • Penalty: Imprisonment for up to 2 years or a fine.