1
Q
To be effective, securities regulation must balance the legitimate needs of businesses to raise capital against the need _____________. In addition
A
need to protect investors.
In addition,
Fostering an active and competitive market
Maintaining market confidence
Reducing financial crime
Discouraging behavior that might harm
2
Q
World Bank Principles for Effective Insolvency and Creditor / Debtor Regimes (World Bank Principles) recommends that the administrator have broad powers, including:
A
- the right to cancel fraudulent contracts or transactions entered into by the debtor.
- the power to collect preserve, and dispose of the debtor’s property
- The ability to intervene with contracts to meet the objectives of the insolvency process
- The power to examine the debtor, the debtor’s agents, or other people with knowledge of the debtor’s affairs and compel them to provide relevant information.
3
Q
If a subject has purchased a large of number of bearer instruments, each for less than the jurisdiction’s threshold for mandatory reports on currency transactions, this could be an indication of:
A
structuring scheme
Structuring occurs when a deposit or other transfer is made using a method that is specifically designed to avoid regulatory reporting requirements or an institution’s internal controls.
4
Q
Two basic categories of admissible evidence:
A
direct evidence and circumstantial evidence
Direct evidence - evidence that tends to prove or disprove or disprove a fact in issue directly (EYEWITNESS TESTIMONY or a CONFESSION)
Circumstantial evidence - evidence that tends to prove or disprove facts in issue indirectly, by inference.
5
Q
To recover for defamation, the plaintiff must generally prove all the following elements:
A
- the defendant made an untrue statement of fact
- the statement was communicated to third parties
- the statement was made on an unprivileged occasion
- the statement damaged the subject’s reputation
6
Q
Burden of proof
A
the evidence one party must present to prove each element of a cause of crime.
Common law - beyond measurable doubt
Civil law - “conviction in time” or “inner conviction of the judge.
- Means that the fact finder needs to be convicted at the inner deep seated level.
- less certain beyond a reasonable doubt.
7
Q
In most common law countries, a criminal appellate court is generally permitted to make its own legal conclusions but not its own factual determinations when reviewing a case.
A
True
appeals in common law systems are typically limited to issues of law.
8
Q
Unlike the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act makes it a crime to bribe a foreign public official in connection with international business transactions.
A
False
Both the UK Bribery Act and the U.S. Foreign Corrupt Practices Act (FCPA) make it a crime to offer foreign public officials bribes or to accept bribes from them in connection with international business transactions, and their prohibitions on bribing foreign government officials are broadly comparable.
9
Q
Which of the following would be an example of a narrative question that an attorney might ask an expert witness during direct examination in an adversarial system?
A
“Could you please describe the steps you took during your examination? “
Narrative Questions - broad open-ended questions that allow experts to state their opinions in their own words with minimal prompting.
Direct examination is the initial questioning of a witness by the party that called the witness or the judge.
10
Q
Pretrial written examination for discovery
A
a method of pretrial civil discovery.
Deposition
- a list of questions that the party, usually through a lawyer, is required to answer in writing.
11
Q
Criminal income and wealth tax evasion:
A
Failing to submit a report
Intentionally misrepresenting one’s income or wealth
Pretending to transfer assets to another person or entity to lower tax liability
Intentionally failing to withhold the taxable portion of an employee’s income, if so required
Failing to report foreign bank accounts or other taxable assets, if required
Falsely claiming income was earned in another jurisdiction to lower tax liability
12
Q
Fraudulent conveyance
A
a transfer is a fraudulent conveyance if the purpose of the transfer is to hinder, delay, or defraud a creditor.
13
Q
What is the civil wrong that occurs when one party makes public statements about another party’s private life that are not of public concern?
A
Public disclosure of private facts
Public disclosure of private facts occurs when one party makes public statements about another party’s private life that are not of public concern.
14
Q
Abel, a fraud examiner, interviewed Beta, a fraud suspect. No other people were present at the interview. During the interview, Abel accused Beta of committing fraud. This accusation later turned out to be erroneous, and Beta sued Abel for damages.
If Beta sued Abel for slander, ________
A
Beta would not recover damages because Abel did not publish the accusation to a third party.
15
Q
In common law jurisdictions, the litigation privilege applies only to documents and things prepared in anticipation of litigation
A
True
16
Q
To recover for defamation, the plaintiff must generally prove all of the following elements:
A
- the defendant made an untrue statement of fact.
- the statement was communicated (published) to third parties.
- the statement was made on an unprivileged occasion.
- the statement damaged the subject’s reputation.
17
Q
Consumption taxes examples:
A
- Sales taxes - tax on goods or services, usually assess at the consumer level and collected by the retailer or seller at the point of sales.
- value added taxes - a system that imposes a tax on an item that is assessed incrementally based on its increase in clue at each point along a supply chain, from manufacture, to wholesale, to retailer, to consumer.
- Excise taxes - a tax on a narrow class of goods
18
Q
redemption scheme -
A
a money launderer purchases life insurance or a similar policy with a redemption provision and redeems the policy with the intent to make the income appear legitimate.
19
Q
DNFBPs - designated nonfinancial businesses and professions
A
- casinos
- real estate agents
- dealers in precious metals and stones
- legal professions at professional firms
- trust and company service providers.
20
Q
Perjury
A
- the defendant made a false statement
- the defendant made the false statement while under oath
- the false statement was material or relevant to the proceeding
- the defendant made the statement with the knowledge of its falsity.
21
Q
Financial Action Task Force (FATF) Recommendations advise that countries should require financial institutions to keep certain records and establish anti-money laundering (AML) policies.
True / False
A
True
22
Q
For a conflict of interest claim to be actionable, the conflict must be undisclosed.
True / False
A
True
23
Q
Bars, restaurants, and nightclubs are favorite businesses through which to launder funds because:
A
sales are generally in cash.
24
Q
Three stages of money laundering:
A
PLACEMENT - launderer introduces their illegal profits into the financial system. Incremental deposits.
LAYERING - create additional transfers and fake loans involving foreign entities
Integration - money is integrated back into the economy in a way that makes it appear to be part of a legitimate business transaction.
25
AML Program requirements -
- the development of internal procedures and controls, including adequate screening procedures to ensure high standards in employee hiring
- ongoing employee training programs on money laundering risks
- an independent audit function to test the effectiveness of the programs
- the designation of a compliance officer at the management level.
26
To prove that a defendant committed criminal perjury, the government prosecutor must show that the defendant while in the court of law, knowingly made a false statement that influenced the jury's decision.
True / False -
False -
no need to say it in the the court of law.
Perjury - The defendant made a false statement.
The defendant made the false statement while under oath.
The false statement was material or relevant to the proceeding.
The defendant made the statement with knowledge of its falsity.
To criminalize perjury, however, do not require that the false statement be given in a court of law or that the false statement influence a jury’s decision.
27
Churning
the excessive trading of a customer account to generate commissions while disregarding the customer's interests. Specifically, churning occurs when an investment professional excessively trades an account for the purpose of increasing their commissions instead of furthering the customer's investment goals.
28
International Organization of Securities Commissions Objectives and Principles of Securities Regulation (IOSCO) is based on the following objectives
- protection of investors
- ensuring that the markets are fair, efficient, and transparent
- reduction of systematic risk.
29
In Common Law jurisdictions, courts are bound by two sources of substantive law -
1. law from statues (including codes or other laws passed by legislatures)
2. judge-made law based on previous court decisions.
30
Common defenses to tax evasion:
- No tax deficiency / no tax liability
- Lack of willfulness: a good faith belief that one is not violating the tax law
- avoidance, not evasion:
- reliance on an attorney or accountant
31
Investment contract provides that a contract, transaction, or scheme is an investment contract if all of the following four elements are met:
- There is an investment of money or other asset.
- the investment is in a common enterprise
- the investment was made with expectations of making a profit.
- the profits are to come solely from the efforts of people other than the investor.
32
Walters is the mayor of a mid-size town. Because he is well-known and liked in the town, the prosecutor wants to move the trial to another town in which Walters is not known. The prosecution believes that such a move will ensure a more unbiased verdict. If the prosecution wishes to move the trial to a different city, it must request which of the following?
Change of venue.
Rules of venue can be based on a mixture of factors, including convenience to the parties (e.g., where they reside) and where the acts that underlie the case occurred. In some instances, there will be multiple courts that have jurisdiction over a case, and the parties that believe they are subject to prejudice in a court will seek to change the venue to a court more favorable to themselves.
33
relevant evidence -
evidence that tends to make some fact at issue more or less likely that it would be without the evidence.
34
To recover for intentional infliction of emotional distress
the plaintiff must prove all of the following elements:
- The defendant engaged in extreme and outrageous conduct.
- The defendant acted intentionally or recklessly (i.e., the defendant intended that their conduct would cause severe emotional distress, or they acted recklessly with regard to whether their actions would cause severe emotional distress).
- The victim actually did suffer emotional or mental distress as a result of the defendant's conduct.
35
In most common law jurisdictions, for a document to be admitted into evidence, it must be properly __________; that is, the party offering the document must produce some evidence to show it is, in fact, what the party says it is.
authenticated
36
Which of the following would be an example of direct evidence?
A. In an embezzlement trial, expert testimony regarding the defendant’s mental functioning and drug addiction
B. In a misappropriation trial, eyewitness testimony of someone saying that they saw the defendant steal items from the inventory of the defendant's employer
C. In an embezzlement trial, witness testimony about a suspicious situation in which the defendant was involved
D. In a misappropriation trial, testimony that the defendant deposited $2,000 into their account and that, on the same day, $2,000 was stolen from the defendant's employer
B. in a misappropriation trial eyewitness testimony of someone saying that they say the defendant steel items from the inventory of the defendant's employer.
Direct evidence - evidence that tends to prove or disprove a fact in issue directly, such as eyewitness testimony or a confession.
37
To determine whether authorization (e.g., a search warrant) by a judicial officer or other sanctioned official is required to conduct a search in a jurisdiction with laws granting people the right to be free from unreasonable search and seizure by authorities, it is necessary to first determine whether or not _____________ is/are involved in the search.
Government authorities.
38
Which of the following is a common law invasion of privacy civil wrong that occurs when an individual intentionally encroaches into an area where another individual has a reasonable expectation of privacy and the encroachment would be highly offensive or objectionable to a reasonable person?
Intrusion into an individual's private matters
39
The purpose of the authentication requirement in most common law systems is to ensure ______
that evidence is what it purports to be and is genuine, not a forgery.
40
Myopic vision
a tactic primarily used against expert witnesses, entails getting the expert witness to admit excessive time being spent on a specific matter, and then selecting an area to highlight in which the witness is unsure or has not done much work. This area might not be central to the issues in the case or to the conclusions reached.
Then, the questioning party will make a large issue of it and suggest that the witness's vision is myopic in that the work was limited in extent or scope and, as such, substandard.
41
Purposes of opposing counsel during the cross-examination of a witness:
- Dismiss the importance of the witness's testimony
- Discredit the witness's testimony itself
- to make the witness contradict former statements the witness made during the litigation process.
42
Generally before allowing an expert to testify before a jury in an adversarial jurisdiction, a judge will make three determinations:
- Is the person qualified as an expert witness?
- Will the expertise of the witness assist the jury in understanding the evidence or determining a fact at issue? In other words, is the proposed testimony relevant to the facts of the case?
- Is the testimony reliable?
43
To recover for defamation, the plaintiff must generally prove all of the following elements:
- the defendant made an untrue statement of fact.
- the statement was communicated (published) to third parties
- the statement was made on an unprivileged occasion.
- the statement damaged the subject's reputation.
44
Difference between the appointment of expert witnesses in most adversarial and inquisitorial jurisdictions:
Experts in inquisitorial jurisdictions are primarily appointed and presented by the court, whereas the parties usually select and present experts in adversarial jurisdictions.
45
Items that can affect the rights that employees may have during an internal investigation
- existence of a collective bargaining agreement
- existence of an employment contract
- existence of a union contract.
46
If the evidence clearly shows that a suspect has mitted a crime, it is permissible for a fraud examiner to testify that, in their opinion, the suspect is guilty because the evidence has established all of the essential elements of the offense charged.
FALSE
IN the ACFE Code of Professional Ethics, fraud examiners are prohibited from expressing opinions as to the guilt or innocence of any person or party.
47
During cross-examination in adversarial proceedings, it is a general rule for opposing counsel to cross-examine a witness only if it would benefit the case.
TRUE
Never underestimate the expertise of the opposing counsel in adversarial proceedings. Opposing counsel's general rule is to cross-examine only if it would benefit the case. In asking questions of the witness, opposing counsel will generally ask either short questions in plain words or will ask leading questions. Opposing counsel usually knows the answers to the questions it poses.
48
Some common law countries allow parties to conduct an ____________, which is sworn testimony given by a party or witness upon questioning by counsel for one of the parties before trial and outside of court, usually in a lawyer's office.
Oral examination
AKA deposition.
49
Three common types of civil remedies:
monetary remedies (Damages)
declaratory remedies -
They allow businesses or individuals to seek a court's direction at the early stages of a controversy. When there is uncertainty as to the legal obligations or rights associated with a potential future course of action, declaratory relief offers an immediate means to resolve this uncertainty.
equitable remedies. - in addition to monetary damages, typically require someone to either perform or refrain from performing, a specific act.
50
If an employee commits internal fraud, the employer recovers losses:
Many businesses have fidelity insurance that covers fraud losses.
Fidelity insurance is a type of insurance under which the insured entity is covered against losses caused by the dishonest or fraudulent acts of its employees.
51
Two types of alternative dispute resolution:
mediation or arbitration:
Mediation is a BINDING contract, & its the process whereby an impartial third person assists the parties in reaching a resolution to the dispute. The mediator does not decide who decide who should win but instead works with the parties to reach a mutually agreeable settlement.
Arbitration - can be BINDING or NONBINDING.
If the arbitration is binding, then the decision of the arbitrator is final, and the parties cannot later submit their dispute to a judge or jury for determination. Conversely, if the arbitration is nonbinding, the arbitrator's determination is not binding upon the parties.
52
In most common law jurisdictions, plaintiffs in a civil trial must prove:
Preponderance of the evidence
that it is more probably than not that the defendant is liable.
The plaintiff does not have to prove liability beyond a reasonable doubt, as in a criminal case.
53
injunction
a type of equitable remedy in which a court orders a party to perform, or refrain from performing, a specific act.
54
Probation
occurs when an offender's jail sentence is suspended in exchange for a promise of good behavior and being places under supervision within the community.
55
Bargaining agreements
are more commonly accepted in common law jurisdictions than in civil law jurisdictions.
occur when a defendant makes an agreement with prosecutors to plead guilty or submit a recorded confession in exchange for lesser charges or a reduced sentence.
56
In most jurisdictions, police must always have a warrant to arrest a person for investigative purposes.
True / False
False
Generally, the government may not make an arrest unless there is a good reason to believe that the suspect committed an offense.
Exceptions:
- an offense that occurred in the presence of an officer
- The discovery of contraband in the suspect's possession
- emergency situations
57
Appeals process in criminal cases
- in most jurisdictions, a convicted defendant has the right to appeal their conviction and sentence
- in many jurisdictions, an appellate court will reverse a conviction only if it finds an error that likely affected the trial's outcome and denied the defendant a fair trial.
- Appellate courts will generally only accept an appeal if the petition has been filed in a timely manner following the prior court's judgment.
58
Under the United Nations’ (UN) International Covenant on Civil and Political Rights (ICCPR)
ICCPR states that all people accused of crimes are entitled to a fair hearing before a court or other tribunal and that the results of the trial should be made public to protect the criminal justice system's transparency.
- adequate time to prepare a defense
- the ability to be represented by legal counsel of the defendant's choosing and to freely communicate with counsel
- the right to have accusations and the procedures explained through a translator for free, if necessary
- the right to be tried for changes without undue delay
- the right to be tried for changes without undue delay
- the right to examine or have examined the witnesses against the accused
- Freedom from testifying against oneself or compelled confessions.
59
In jurisdictions that allow criminal bargaining agreements, what party generally has the discretion to decide whether to settle charges with a bargaining agreement?
The prosecution.
prosecutorial discretion, meaning that the decision to prosecute and the decision to allow a bargaining agreement are left to the discretion of the appropriate jurisdictional authority.
60
Custodial arrest occurs when
a law enforcement officer indicates that the suspect is no longer free to leave.
61
Criminal proceedings in inquisitorial jurisdictions divided into three phases:
- investigative phrase
- examining phase
- the trial
62
In common law jurisdictions, what parties typically serve as the fact finder in criminal trials?
a jury.
BUT not a must.
for some cases, usually minor criminal offenses, a jury trial might not be available.
When no jury is present, the judge serves as the fact finder.
63
Probation
typically occurs when an offender's jail sentence is suspended in exchange for a promise of good behavior and being placed under supervision within the community.
64
Blake, a CFE, testifies during a criminal trial that $25,000 was withdrawn without authorization from the plaintiff's business account, and, one week later. $20,000 was deposited into an account owned by the defendant. In the criminal trial of the defendant for theft, Bake's testimony would be considered:
Circumstantial evidence.
Circumstantial evidence is evidence that tends to prove or disprove facts in issue directly, by inference.
65
The World Bank Principles for Effective Insolvency and Creditor / Debtor Regimes (World Bank Principles) recommends that the administrator have broad powers including:
- The right to cancel fraudulent contracts or transactions entered into by the debtor
- The power to collect, preserve, and dispose of the debtor's property
- the ability to interfere with contracts to meet the objectives of the insolvency process
- The power to examine the debtor, the debtor's agents, or other people with knowledge of the debtor's affairs and compel them to provide relevant information.
66
There are three basic options by which organizations can legitimize cross-border transfers of personal information:
- obtain the consent of the data subject.
- establish a contract between the entities exchanging the information
- if transmitting from the EU to non-EU countries, rely on adequacy decisions by the European Commission. That is, limit the transfer of data to countries that offer an adequate level of protection, as determined by the European Commission.
67
In a civil action for fraud, a court orders a defendant not to spend the proceeds of the alleged fraud or transfer any property while the lawsuit is ongoing. Which type of provisional remedy does this BEST describe?
Prejudgment attachment.
Depending on the jurisdiction, however, the order may be called a freezing order, a precautionary attachment, a preventative injunction, or a similar term.
68
Which of the following is a basic exception for the requirement that a police officer must obtain a search warrant before conducting a search of a person, location, or vehicle for evidence of a crime.
Searches conducted pursuant to a valid, voluntary consent.
69
The fact that an item of evidence is relevant does not automatically mean that it will be admitted in adversarial trials. Evidence might be relevant but still excluded for other reasons. What are the reasons?
Misleading
Unduly prejudicial
Waste of time.
70
A private UK company transfers $60,000 to a Chinese public official to influence the award of a public construction contract. This act would constitute a violation of the U.S. Foreign Corrupt Practices Act (FCPA).
True / False
False
The UK Company did not violate the FCPA.
71
Sanctions for violating the common law duty to preserve information relevant to anticipated or existing litigation can only arise from intentional acts, not from negligent acts.
False
Erasing computer files (e.g., documents, images, or databases) relevant to anticipated or existing litigation
Losing or destroying physical evidence relevant to anticipated or existing litigation
Losing, destroying, or altering documents or records relevant to anticipated or existing litigation
Failing to suspend routine destruction of electronic data relevant to anticipated or existing litigation
72
Integrative bargaining is the process whereby an impartial third person assists the parties to a dispute in reaching a resolution.
False
Mediation is the process whereby an impartial third person assists the parties in reaching a resolution to the dispute. The mediator does not decide who shold
73
ABC Corporation is involved in a reorganization bankruptcy proceeding, after which it will continue operations. Under the World Bank Principles for Effective Insolvency and Creditor/Debtor Regimes (World Bank Principles), which of the following parties is an appropriate option for managing ABC during the proceedings?
A. Exclusive control by an independent insolvency representative
B. ABC's management maintains control
C. Supervision of ABC's management is undertaken by an an independent insolvency representative
D. All of the above
D. All of the above.
74
Which of the following does NOT accurately reflect the customer due diligence (CDD) procedures for financial institutions under the Financial Action Task Force (FATF) Recommendations?
A. The institution should identify the beneficial owner of the account.
B. The customer’s identity should be verified through reliable, independent sources.
C. The customer’s business relationships and transactions should be checked once to ensure that they are consistent with the customer’s profile.
D. The institution should discover the intended nature of the customer’s account or service.
C.
The FATF Recommendations state that the customer's business relationships and transactions should be subject to ongoing monitoring and not just a single check.
75
Common Law vs. Civil Law
Common law - case law predominates (published judicial opinions.
Common laws functions as an adversarial system.
Civil Law - codified statutes predominate.
Civil law is primarily inquisitorial.
76
In jurisdictions that allow criminal bargaining agreements, which of the following parties generally has/ have the discretion to divide whether to settle charges with a bargaining agreement?
The prosecution
- meaning that the decision to prosecute and the decision to allow a bargaining agreement are left to the discretion of the appropriate jurisdictional authority.
77
Which of the following tax evasion schemes would be accurately classified as an income and wealth tax evasion scheme?
A. Fraudulently applying for a refund of a value-added tax
B. Smuggling goods into a jurisdiction to avoid paying excise taxes
C. Pretending to transfer assets to another person or entity to lower tax liability
D. All of the above
C. pretending to transfer assets to another person or entity to lower tax liability.
78
Which of the following statements concerning judges and juries is MOST ACCURATE?
A. Inquisitorial judicial processes are those that do not use juries in a fact-finding role.
B. Juries primarily decide issues of law in adversarial jurisdictions.
C. In serious cases, some inquisitorial jurisdictions use juries that include both judges and laypersons.
D. In a bench trial in adversarial jurisdictions, the judge only decides questions of law.
C. In serious cases, some inquisitorial jurisdictions use juries that include both judges and laypersons.
79
Which of the following is NOT a favorite front business for laundering money?
A. Restaurants
B. Vending Machines
C. Electronics stores
D. Wholesale distribution
C. Electronics Stores
80
Blue is a defendant on trial for fraud in a common law jurisdiction. One of the key pieces of evidence in the trial is a handwritten letter written by Blue that indicates his intent to commit the fraud. Before the letter can be admitted into evidence, Blue’s authorship of the letter must be established. Which of the following statements about establishing the authenticity of the letter is CORRECT?
A. The letter’s authenticity can be established by having the jury review the document and vote on its authenticity
B. The letter’s authenticity can be established by having a witness testify that they saw Blue write the letter
C. Because the letter is self-authenticating, it needs no additional authentication to be admitted
D. None of the above
B. the letter's authenticity can be established by having a witness testify that they saw Blue write the letter.
81
Which of the following scenarios would potentially result in the waiver of a client’s legal professional privilege over confidential communications with the client's legal representative?
A. The client intentionally shares privileged communications with an unrelated third party who has no need to know the information
B. The client inadvertently forwards an email with privileged information to unrelated third parties who have no need to know the information
C. The client's legal representative shares privileged communications with an unrelated third party who has no need to know the information
D. All of the above
All of the above.
82
In adversarial judicial processes, which of the following parties typically gathers evidence for the case and conducts the questioning of witnesses at trial?
The parties or their legal counsel.
83
Which of the following statements regarding the General Data Protection Regulation (GDPR) is MOST ACCURATE?
An organization must inform data subjects that they can withdraw their consent for the collection of data at any time.
84
In jurisdictions that recognize the civil wrongs constituting invasion of privacy, the civil wrong regarding intrusion into an individual’s private matters occurs when one party makes public statements about another party’s private life that are not of public concern.
True / False
False
Public disclosure of private facts occurs when one party makes public statements about another party’s private life that are not of public concern.
The civil wrong regarding intrusion into an individual’s private matters (often referred to as intrusion upon seclusion) occurs when an individual intentionally intrudes into another individual’s private matters and the intrusion would be highly offensive or objectionable to a reasonable person.
85
Under the ACFE Code of Professional Ethics, fraud examiners who testify as witnesses are prohibited from:
B. Testifying to opinions concerning the defendant's innocence
86
Which of the following statements concerning appellate procedure in criminal cases is MOST ACCURATE?
B. Appellate courts in civil law jurisdictions are generally permitted to make their own factual determinations and legal conclusions when reviewing a case.
87
Generally, before allowing an expert to testify before a jury in an adversarial jurisdiction, a judge will make three determinations:
1. Is the person qualified as an expert witness?
2. Will the expertise of the witness assist the jury in understanding the evidence or determining a fact at issue? In other words, is the proposed testimony relevant to the facts of the case?
3. Is the testimony reliable?
Bias is a relevant issue. However, in adversarial systems, witness bias is readily addressable by the parties' legal representatives, rather than being predetermined by the judge.
88
Under the European Union's (EU) General Data Protection Regulation (GDPR), organizations are not required to obtain the consent of data subjects before collecting or processing their personal information.
True / False
False
Under the General Data Protection Regulation (GDPR), organizations must obtain the consent of data subjects before collecting or processing their personal data. Data subjects must give their consent via a statement or clear affirmation action. In addition, data subjects must be informed that they can withdraw their consent at any time. and withdrawal of their consent must be as easy as providing consent.
89
In common law jurisdictions, the litigation privilege applies only to documents and things prepared in anticipation of litigation.
True.
90
In most common law systems, relevant documents in civil cases are listed and described by the party that holds them in what format?
Affidavit of documents or records
91
What best describes the purpose of expert testimony in judicial proceedings?
To assist the trier of fact to understand the evidence or determine the fact in issue.
92
A criminal is attempting to launder stolen funds. To confuse the money trail for the funds, the criminal purchases an expensive insurance contract with the illicit funds, cancels the policy shortly after, and receives a refund in a foreign bank account. What best describes the criminal's money laundering scheme?
Canceled policy scheme.
93
In serious cases, some inquisitorial jurisdictions use juries that include both __________
judges and laypersons
The judge in an inquisitorial process both serves as the traditional fact finder and makes determinations on issues of law.
However, some inquisitorial systems will use juries, laypersons, or a combination of judges and laypersons in serious cases.
94
In jurisdictions that recognize corporate criminal liability, to find a corporation vicariously liable for the acts of one of its employees, it is typically necessary that someone in management was involved in the offense or knew about the offense and should have stopped it.
False -
Generally vicarious liability is very broad and imposes liability on a corporation even if those in management had not knowledge or participation in the underlying events.
95
Which of the following outcome to criminal allegations of fraud against an organization occurs when prosecutors agree not to prosecute claims as long as the organization reforms its practices and reduces the risk of illegal activities.
Deferred prosecution agreement.
96
Civil trail processes in a civil law jurisdiction is a continual series of meetings and written correspondences, rather than a single event.
True or False
True
Civil trial - Continual series of meetings and written correspondences, rather than a single event.
Common is a single event - there is a clean division between the pretrial and trial stages found in common law civil trials.
97
Appellate courts in ______ law jurisdictions are generally permitted to make their own factual determinations and legal conclusions when reviewing a case.
Common
98
Even if a warrant is technically required, there are a number of recognized exceptions to the warrant requirement. They are:
Consent searches and evidence in plain view.
99
General Data Protection Regulation
an organization must obtain the consent of data subjects before collecting processing their personal data.
organizations must obtain the consent of data subjects before collecting or processing their personal data.
100
Public disclosure of facts
occurs when one party makes public statements about another party's private life that are not of public concern.
101
In criminal trials in common law jurisdictions, a jury must service as the fact finder.
False
While jury trials are typically used in criminal proceedings in common law jurisdictions, this is not always the case.
102
Criminal appellate court
Common law vs. civil law
Common law jurisdictions- criminal appellate court is generally permitted to make its own legal conclusions but not its own factual determinations when reviewing a case.
Civil law jurisdictions - generally permitted to make their own factual determinations and legal conclusions when reviewing a case.
103
In most jurisdictions, police ______ always have a warrant to arrest a person for investigative purposes.
does not always need to have a warrant.
104
over-invoicing or under-invoicing scheme
over-invoicing
under-invoicing scheme, the exporter invoices goods or services to the importer at a price below their market value.
105
Legal elements that must be shown to prove a claim for fraudulent misrepresentation of material facts?
- the defendant made a false statement
- the false statement was material
- the defendant knew the representation was false
- The victim relied on the misrepresentation
- The victim suffered damages as a result of the misrepresentation.
106
Generally, to prove a violation, the government must show that the defendant:
- Knowingly an willfully
- Made a false claim or statement
- That was material
- regarding a matter within the jurisdiction of a government agency
- With knowledge of its falsity.
107
Primary sources of law in civil law jurisdictions
- codified principles or statutes.
108
A transfer of assets is fraudulent conveyance of the purpose of the transfer is to hinder, delay, or defraud a a creditor.
True
109
Organization for Economic Co-operation and Development's (OECD) to improve the following areas within their respective infrastructures:
- criminal, civil, commercial, and administrative laws.
- Tax systems and regulation
- Banking and accounting requirements and practices
- laws and regulations related to public subsidies, licenses, and contract procurement.
110
The U.S. federal wire fraud statute makes it a crime to use telephone, television, internet, or other electronic communications to perpetrate a scheme to defraud a victim of money or property.
True
111
In a civil action for fraud, a court orders a defendant not to spend the proceeds of the alleged fraud or transfer any property while the lawsuit is ongoing. Which type of provisional remedy does this BEST describe?
Prejudgment attachment -
112
Bustout is a planned bankruptcy. Steps of a bustout.
1. Close and file Bankruptcy
2. Purchase large quantities of goods on credit
3. Obtain credit from vendors
4. Sell the inventory at deep discounts.
113
Assuming that the relevant jurisdiction recognizes each of the legal defenses below, which of the following is the best defense against a tax evasion charge, provided that the facts will support the defense?
Lack of tax deficiency
CFE
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