Terrorism Definition

GLOSSARY

What does Terrorism mean?

Terrorism in essence involves the use or threat of force for political, religious, ideological or racial causes.

The Terrorism Act 2000, s 1, provides: “(1) In this Act 'terrorism' means the use or threat of action where– (a) the action falls within subsection (2), (b) the use or threat is designed to influence the government or an international governmental organisation or to intimidate the public or a section of the public, and (c) the use or threat is made for the purpose of advancing a political, religious, ideological or racial cause. (2) Action falls within this subsection if it– (a) involves serious violence against a person, (b) involves serious damage to property, (c) endangers a person's life, other than that of the person committing the action, (d) creates a serious risk to the health or safety of the public or a section of the public, or (e) is designed seriously to interfere with or seriously to disrupt an electronic system”.

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EU and UK Wire Transfer Regulations—timeline to 31 December 2023 [Archived]

EU and UK Wire Transfer Regulations—timeline to 31 December 2023 [Archived] ARCHIVED: This Practice Note is archived and is no longer maintained. For UK developments see: AML/CTF/CPF—timeline of UK legal and regulatory developments for financial services. For EU developments see: AML/CTF/CPF—timeline of EU legal and regulatory developments for financial services. This timeline outlines the developments in relation to the Wire Transfer Regulation (Regulation (EU) 2015/847) (also known as the Funds Transfer Regulation (FTR)), its predecessor the Wire Transfer Regulation (Regulation (EU) 1781/2006) and the Recast EU WTR2 (also referred to as the Recast EU Transfer of Funds Regulation (EU FTR2)) which entered into force in June 2023 and applies from 30 December 2024 and forms part of the wider European Commission 2021 legislative package overhauling the European Union’s AML/CTF legal framework and regulatory requirements. It further includes the onshoring of EU WTR2 through the Retained Regulation (EU) 2015/847 (UK WTR2) and relevant updates brought in through the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017,...

Issues with franchising in an overseas territory—checklist

Issues with franchising in an overseas territory—checklist This Checklist sets out the issues for a franchisor to consider when preparing to operate the franchise in an overseas territory. The advance of technology has helped facilitate the rise of a global economy. This has led to the creation of opportunities for companies to trade outside of their domestic markets and exploit developing territories. However, a number of issues arise when a franchisor is preparing to operate in an overseas territory some of which are detailed below. PESTLE analysis A franchisor may wish to carry out a political, economic, environmental, sociological, technological, legal and environmental factors (PESTLE) analysis in relation to a new territory. The information obtained from the analysis can be used as a guide to strategic decision making when considering international franchising. Below is a list of legal and non-legal issues that might arise with international franchising. Political • There may be increased political or legislative risks that should be taken into consideration by businesses before they commence operations in...

Counter-terrorist financing—key information for law firms

This Practice Note explains counter-terrorist financing (CTF), including the offences and obligations contained in the Terrorism Act 2000 (TA 2000) and related legislation. It outlines what terrorist financing is, how it relates to the anti-money laundering (AML) regime and why it is important for law firms.What is terrorist financing?Terrorists need funds to plan and carry out attacks. The TA 2000 criminalises both the participation in terrorist activities and terrorist financing.In general terms, terrorist financing is the provision or collection of funds from legitimate or illegitimate sources with the intention or in the knowledge that they should be used to carry out any act of terrorism, whether or not those funds are in fact used for that purpose.Counter-terrorist financing and anti-money launderingCTF and AML are different concepts, albeit with similar aims. The CTF and AML regimes run together in UK legislation. Many of the provisions of the Proceeds of Crime Act 2002 (POCA 2002) and the TA 2000 closely mirror one another and the definitions in each are deliberately matched. Both...

Designation of sanctions targets under the UN sanctions, UK sanctions and EU sanctions regimes

In the UK, ministers the power to implement sanctions regimes under the Sanctions and Anti-Money Laundering Act 2018 (SAMLA 2018).For information about SAMLA 2018, see Practice Notes: International sanctions—an introduction, The UK sanctions framework under SAMLA 2018 and UK sanctions regimes currently in force.What are designations?When a person (an individual, other bodies with legal personality (such as companies), as well as organisations, associations or groups of persons) is the target of a sanctions regime, they become designated. Restrictions on activities associated with designated persons apply automatically upon designation.If a person is designated (a designated person), their name will be recorded and published on the official governmental lists. The consolidated list held, in the UK, by the Office of Financial Sanctions Implementation (OFSI) contains details of all persons and entities who are designated targets of financial sanctions by the UN and by the UK under SAMLA 2018 and other UK legislation. The Foreign, Commonwealth & Development Office (FCDO) also maintains a list of all those designated under SAMLA 2018 which includes...

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API terms of use

API terms of use Please read these api terms of use carefully before using the api. By using the api, you agree to be bound by these api terms of use. If you do not agree to these api terms of use you must not use our api for any purpose whatsoever. In these API Terms of Use, We, Our, Ourselves, Us or API Licensor means [insert company name] (a company incorporated in [England and Wales] under number [insert registered company number] whose registered office is at [insert address]) and You, Your or API Licensee means you (and if you are using the API on behalf of a legal person, business or other organisation (Organisation) includes you and also such Organisation). By using the API on behalf of any Organisation, You represent and warrant (promise) that You have all necessary capacity and authority to enter into these API Terms of Use on behalf of such Organisation as a legally binding...

Software development agreement

Software development agreement This Agreement is made on [insert date] (the Commencement Date) between the following: Parties 1 [insert supplier name] a company incorporated in England and Wales whose registered number is [insert company number] and whose registered office is at [insert registered office] (the Supplier); and 2 [insert customer name] a company incorporated in England and Wales whose registered number is [insert company number] and whose registered office is at [insert registered office] (the Customer), each of the Supplier and the Customer being a party and together the Supplier and the Customer are the parties. Background (A) The Supplier is [insert Supplier’s background details and the background to the relevant transaction]. The Customer is [insert Customer’s background details]. (B) The Supplier wishes to develop certain Software (as defined below) and the Customer wishes to engage the Supplier to develop the same on the terms of this Agreement. The parties agree: 1 Definitions and interpretation 1.1 Words shall have the meanings given to them...

Dive into our 108 Precedents related to Terrorism

What types of offences under the Proceeds of Crime Act 2002 (POCA 2002) should lawyers (who are acting in the 'regulated sector' under POCA 2002) and buyers be aware of in M&A transactions? If any such offence is identified as part of the due diligence process, what action should be taken and can this impact the timing of the transaction?

What types of offences under the Proceeds of Crime Act 2002 (POCA 2002) should lawyers (who are acting in the 'regulated sector' under POCA 2002) and buyers be aware of in M&A transactions? If any such offence is identified as part of the due diligence process, what action should be taken and can this impact the timing of the transaction? Under the Proceeds of Crime Act 2002 (POCA 2002), money laundering is defined as: • concealing, disguising, converting, transferring or removing criminal property out of the jurisdiction • entering into or becoming concerned in an arrangement that facilitates the acquisition, retention, use or control of criminal property, and • acquiring, using or possessing criminal property Money laundering is further defined in the Terrorism Act 2000. It is an offence to enter into or become concerned in an arrangement that facilitates the retention or control by or on behalf of another person of terrorist property: • by concealment • by removal from the jurisdiction • by...

What civil or criminal personal liability could a nominated officer (also referred to as the Money Laundering Reporting Officer, or MLRO) or Money Laundering Compliance Officer (MLCO) potentially incur in the role and what is the source of this liability?

What civil or criminal personal liability could a nominated officer (also referred to as the Money Laundering Reporting Officer, or MLRO) or Money Laundering Compliance Officer (MLCO) potentially incur in the role and what is the source of this liability? Nominated officer The nominated officer (also referred to as the Money Laundering Reporting Officer, or MLRO) is the person nominated to receive and consider suspicious activity reports (SARs) under the Terrorism Act 2000 (TA 2000) and the Proceeds of Crime Act 2002 (POCA 2002). They are also expected to make external SARs to the National Crime Agency (NCA). Not all organisations have to appoint a nominated officer. You must appoint a nominated officer if the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692 apply to your business, ie you are: • a relevant person • acting in the course of business in the UK • not subject to one of the very narrowly drawn exclusions in MLR 2017, SI 2017/692,...

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Klarna fined US$46m by Sweden for AML violations

Law360, London: Sweden's Financial Supervisory Authority (FSA) hit Klarna Bank AB with a 500m krona (US$45.7m) fine on 11 December 2024 for breaching anti-money laundering (AML) rules, after finding that the payments service provider failed to assess its potential role in economic crime.

Financial Services—other developments (13/12/2024)

A round-up of other developments, which have not been covered in full by the ��Ӱ�� Financial Services practical guidance team but may nevertheless be of interest.

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