In most cases, the key factor distinguishing between a criminal federal securities law case and a civil case is the element of knowledge or intent. If federal prosecutors believe they have sufficient evidence to prove that a securities law violation was committed knowingly or intentionally, they may choose to pursue criminal charges under the Securities Act of 1933, the Securities Exchange Act of 1934, SOX, or any of a variety of other potentially applicable laws. With this in mind, a key defense strategy is often to challenge the element of knowledge or intent—though targeted individuals and entities must be careful to avoid exposing themselves to civil liability as well.