Financial Accounting For Financial Services Assignment Money Laundering The word money laundering, according to the myth, is derived from Al Capone's practice of using a string of coin-operated launderettes in Chicago to disguise his revenues from gambling, prostitution and protection rackets. It's a nice story but not true, money laundering is so called because it perfectly describes the process of removing the stains and smells which money acquires when criminals earn it. In this report I will go on to discuss the topic of money laundering in the following order; firstly, I will begin by explaining what is money laundering?, why it is done?, and how it is done? I will then go on to explain the effects of money laundering and the institutions/organisations that are at risk from these activities. I will also be discussing the current situation in the UK regarding money laundering and whether anything can be done to prevent or restrict laundering activities, and will then go on to conclude my findings. Money laundering is the process by which criminals attempt to conceal the true origin and ownership of the proceeds of their criminal activities. If they are successful they can then maintain control over the proceeds and, so, provide a legitimate cover for their source of income. J.D. Mclean defined money laundering in the International Judicial Assistance as: "Although the proceeds of crime will be kept as capital for further criminal ventures, the sophisticated offender will wish to use the rest for other purposes. If this is to done without running a risk of detection, the money which represents the proceeds of the original crime must be "laundered"; put into a state in which it appears to have an entirely respectable provenance" It is important to bear in mind that money laundering is a process (often a highly complex one) rather than a single act. In an effort to expose and analyse this phenomenon it has become common to use a three-stage model which encompasses an ideal money laundering scheme. The three stages are as follows: * Placement Stage This is where cash derived directly from criminal activity (e.g. from sales of drugs) is first placed either in a financial institution or used to purchase an asset. * Layering Stage The stage at which there is the first attempt at concealment or disguise of the source of the ownership of funds. * Integration Stage The stage at which the money is integrated into the legitimate economic and financial system and is camouflaged with all other assets in the system.
Colombia’s trade agreement with the United States opened new doors to foreign direct investment and growth in the manufacturing and industrial sectors. One major issue that Colombia deals with is that a major sum of that money and investment goes through what is called money laundering; which is a method used by criminals including FARC to clean the money that they made through the drug trade or illicit weapons trades. Due to the restrictive Colombian currency controls and tax laws, a black market to exchange currency has existed for decades for Colombian businessmen. As banks around the world became stricter about money laundering laws, Colombian traffickers began avoiding using the legitimate bank system and started infiltrating the black peso exchange to launder their drug money. This sophisticated method would eventually become known as the Black Market Peso Exchange, and is still one the most successful money laundering methods ever devised. “Fanny Kertzman, the former chief of Colombian Customs, says the black peso exchange launders almost $5 billion dollars of drug money a year for the Colombian traffickers”. Raymond Kelly, Commissioner of the US Customs Service stated that it’s the ultimate nexus between crime and commerce, using global trade to mask global money laundering. “Money Laundering is a gateway for the drug traffickers, FARC
Capone publicly admitted how he had gained his fortune. He said that he makes his money by supplying a public demand. If he breaks the law, his customers who number hundreds of the best people in Chicago, are as guilty as he is. The only difference is that he sells and they buy. Everyone calls him a racketeer, he calls himself a businessman."
This document will depict my own philosophy of nursing. I will describe why I chose to become a nurse, those who influenced me, my views on the “core” of nursing, my values and beliefs in regards to my patients, their family members, my peers, and myself as a nurse, I will then share my goals and visions for myself in the future.
Terrorist and criminal organization have internal problems that can be exploited by law enforcement and policy makers. Form author Nikos Passas we understand that terrorist organization have a lot of different methods of funding, including crime and charities. According to Passas the best way to combat this is to increase transparency and traceability in economic transactions, which was also concluded by author Jonas R. Want in his article discussing the regulation of Hawala. By doing this globally we can combat the financing of terrorist and criminal groups by having better knowledge of the movement of their money. According to author William Phil’s two thousand and seven peace, following the money is the most powerful tool in combating illegal financial transactions. The argument is supported by an Bichler, Bushes, and Malm’s article that states that understanding the market system in which criminal organizations operate is necessary when identifying the key players and mechanisms used. Overall, strengthening financial transaction transparency will help law enforcement combat both terrorist and criminal organization which will have great affects on both organizations
Homeschooling is often portrayed as an overprotective mom - unwilling to let her kids leave her for a day at school, and a large number of children, all unable to hold a conversation, let alone function normally in society. As someone who was homeschooled from kindergarten through eighth grade, I can attest that my homeschool experience was the exact opposite of this confining stereotype.
Most people consider this crime to consist of CEO’s manipulating their way to making a large fortune. This of course, is true most of the time in high-profile cases. For example, in late 2001 Enron Corporation executives confessed to overstating the company’s earnings. This lead to artificially inflating what the company was worth and deceived the investors. It took some time to unravel all the fraud put behind this devious act but shows how sophisticated white-collar crime can be. Although it’s usually associated with upper management of corporations, people from all different levels and occupations can perform this crime ("How White-collar Crime Works").
As I have progressed through this semester learning about numerous nursing philosophers, I have poured over the readings trying to identify my place in the world of nursing theory. How am I supposed to create a theory with meaning and purpose? As I reflected on this question, an obvious and simple answer kept coming to mind. Why did I decide to become a nurse in the first place? What about nursing pulled me in to this profession? When I began to think of my nursing journey in this light, my personal nursing philosophy became obvious to me.
...he certainty of restitution, by requiring monetary payment, takes the profit out of crime (Carson).
When I hear the term Feminism I automatically think its about doing things for women, and what they stand for, so I didn't really have a good idea about it. So I went online and looked it up. "Feminism consists of ideas and beliefs about what culture is like for women just because they are women, compared to what the world is like for men just because they are men. In ethical terms, this form or aspect of feminism is descriptive. The assumption in feminism is that women are not treated equally to men, and that women are disadvantaged in comparison to men" (http://womenshistory.about.com/od/feminism/a/feminism.htm). I have to say I definitely agree that women and are not treated the same as men, and I don't think we ever will. Theres a saying I believe it is "its a mans world", I don't know if I believe that. I just feel like men were always held
middle of paper ... ... This money could be put to use here, making our countries financial status better. All these things make drug legalization such a hot topic in the world today. There is enough evidence to support either side of this debate.
Homeschooling still has lots of unknowns for Socialists. There is some research Sociologist use that can gage if homeschooling is better for a child or worse. Homeschooling had a rough start. Was peoples lack of trust in public schooling that started homeschooling movement. Parents do not want to share information for research due to the lack of trust between them and the government. The number of children homeschooled children that enter into college and excel with their grade point averages is amazing. Homeschooling gives the child the freedom to move through school at their own pace. The childes ability to self-teach themselves at their own pace while exceling over the public-school counterpart is amazing.
Feminism has always been a colorful word with a wide variety of meanings, interpretations, and connotations. Unfortunately, these definitions and connotations are sometimes depicted in negative and wrong ways. Feminism is not wearing pants and shunning pink and being mean and poo-pooing child-rearing and hating men. It is not about scoffing at those that choose to stay at home with children or judging other women for their own choices. It is not about relying on stereotypes or assumptions about what the word 'woman' should or should not be. Most importantly, feminism is not a universal, one-size-fits-all term, simply because there are so many women living such differing experiences around the world. Rather, feminism is “the organized activity on behalf of women’s rights and interests” (Radacic). It is the belief that women should have the right to choose to live whatever lifestyle they desire, and the notion that women and men should be considered equals in every aspect of life. Depending on who a person asks, feminism can mean any number of things. When, where, and even how a woman is raised greatly influences and often times, alters, her view and personal definition of feminism and gender equality.
According to the New World Encyclopedia, there is no single idea of feminism. The word feminism encompasses “the social,cultural and political movements, theories and moral philosophies concerned with gender inequalities and equal rights for women.” Unfortunately this is the same word that many people, especially women, do not associate themselves with. The reason why so few women do label themselves is because the English language has misinterpret and misconstrued the central idea of feminism. This is a result from the media, past politics, and feminist themselves who have manipulated the image of feminism.
Many groups of people use money laundering today, and many ways exist to launder money. Money laundering has become more sophisticated over the years. It is much different then when Al Capone laundered his bootleg profits. The United States is doing what they can to combat this illegal activity but without the help of others it is an impossible task. Many countries have teamed up with the Unites States to help. The only way to truly combat it is to persuade the other countries to develop anti-laundering standards. Along with developing these standards, banks need to train their staff on how to catch different transactions and policies to catch money laundering. Because laundering is so easy in these less developed countries laundering will continue, and while this illegal activity continues the activity itself will continue to destroy the economy in which it exists.
Many individuals have the false misconception that they have a clear understanding of the aims of feminism. However, it’s surprising how few people in our society have