Knows or has reason to know,

Knows or has reason to know, means that a person, with respect to a claim or statement -
(a) Has actual knowledge that the claim or statement is false, fictitious, or fraudulent;
(b) Acts in deliberative ignorance of the truth or falsity of the claim or statement; or
(c) Acts in reckless disregard of the truth or falsity of the claim or statement.

Source

15 CFR § 25.2


Scoping language

None
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