report on the UAE’s Anti-Money Laundering and Combating the Financing of Terrorism. The UAE has been described by the IMF as a society where the carrying of large amounts of cash and purchasing goods and property with cash is a common phenomenon. These large scale cash activities usually provide an effective hideaway to criminalized activities such
States Senate Permanent Subcommittee on Investigations (PSI) looking at U.S. Vulnerabilities to Money Laundering and Terrorist financing. Described by chairman Douglas Flint as the toughest in HSBC’s history the PSI concluded that HSBC, and its U.S. affiliate, exposed the U.S. financial system to a “wide array of money laundering, drug trafficking, and terrorist financing risks due to poor anti-money laundering (AML) controls” (United States
“Benefits of Anti – Money Laundering in India” By E.Srinivasan RollNo:EMSL14044 EMP ID: M0958 LIBA-Intern Maveric-System Ltd Benefits of Anti – Money Laundering in India Synopsis 1. Introduction 2. Project Description 3. Objective of the Study 4. Process of Money Laundering 5. Effects of Money Laundering 6. Cases of Money Laundering 7. Emergence of AML 8. Prevention of ML in India 9. Benefits of AML in India 10. Recommendations 11. Conclusion 1. INTRODUCTION Money laundering is the
Money laundering is the routing of illegal profits from bank to bank to disguise its existence. The illegal profits are usually made through activities such as drug trafficking, prostitution rings, illegal arms sales, and various other things. Unfortunately money laundering is a serious crime that is still prevalent in the United States and other countries. The Russian mafia, the Triad or Chinese mafia, and the Columbian drug cartel are just a few of the groups that partake in money laundering. No
UK reports businesses of all sizes are vulnerable to fraud and as much as 25% of SMEs in the UK fall victim to fraudsters (Action Fraud). This paper discusses three common types of business fraud, which include Pyramid schemes, tax fraud and money laundering. Business fraud is highlighted by illegal and unethical business behavior which is very serious in the business world and calls for very punitive measures like lengthy jail sentences, being blacklisted in business and end to very promising careers
August 2017, AUSTRAC, Australia’s financial intelligence agency, commenced civil proceedings against CBA for contravening the Anti-Money Laundering and Counter-Terrorism Financing (AML/CT) Act 2006 (AUSTRAC, 2017a). AUSTRAC claim that CBA failed to comply with the AML/CT Act (2006), on 53,700 occasions (AUSTRAC, 2017a).
What is Piracy The term "software piracy" covers different activities: illegal copying of programs, counterfeiting and distributing software - even sharing a program with a friend. It's important to understand the different software piracy channels, not just to comply with the law but also to protect against bigger economic problems like lost revenue...and lost jobs. OEMs and Resellers Just because the disk says Microsoft or the software came preloaded on your PC, doesn't guarantee it's
The Crypto Currency: Bitcoin Prelude There are lots of ways to make money: You can earn it, find it, or counterfeit it. Or, if you are Satoshi Nakamoto, you can create it. In November 2008, a mysterious entity going with the persona "Satoshi Nakamoto" published a research paper outlining his design for a new digital currency that he called bitcoin. None of the veterans had heard of him, and what little information could be gleaned was murky and contradictory. On his online profile, he said he is
Before the BI in banking manual systems were prevalent because the computers were not used extensively and this was when the banking operations were small and limited mainly to branches. The non-computerized system of banking involved the manual recording of branch transactions. The generation of rudimentary reports from the manual ledgers and were consolidated with those of other bank branches into a final report for the bank as one comprehensive transaction. In this case the BI was limited to simple
Introduction Along with the fast developments and various applications of the internet comes the improvement of people’s living standard. Undoubtedly the emerging new technology is playing such a significant role in fields like promoting interpersonal interactions, driving global collaborations and increasing the world’s productivity, that our society may not stay as functional as it is now without the existence of the internet. Nevertheless, the internet, due to its complicated form of communications
child pornography, black market sale of arms and ammunition, sale of fake identities, drug trafficking and money laundering, all funded by anonymous people with anonymous crypto-currencies. A whole underworld lies underneath what the general public actually sees. [4] The dark web is part of the deep web, which means it is not visible to search engines like Google, and needs special software like TOR to access
Conduct Authority’s Principles for Business and Statements of Principle for Approved Persons (CII, 2013) and the Chartered Insurance Institute Code (CII’s code) (CII, 2014) as well as the Data Protection Act 1998 (Data Protection GOV.UK, 2013), Money Laundering Regulations (Office of Fair Trading, 2009) and the Financial Conduct Authority’s six Treating Customers Fairly Outcomes (FCA, 2013). Paraplanners must act with the highest ethical standards and integrity as well as acting in the best interests
Actual counterfeit items can be divided into four categories: Vanity Fakes which are low perceived value products, Overruns or copies made from left over material, Condoned Copies made by other designers of fashion houses, and Copies made by the fashion houses themselves. An interesting argument protecting the counterfeiter themselves is that much of this counterfeiting is done in countries in economic peril, and perhaps the counterfeiter has a right to make a living whatever way they can. Then what
this, cyber crimes are increasing continuously with a rapid growth (Cheeseman, 2006). These types of crimes have become a matter of importance for the consumers as well the business firms because it involves large eviction of the amount in terms of money. In these types of crimes, computer and Internet are the primary factor (Spinello, 2000). A high percentage of population is using computers in the Australia, United States as well as other developed nations. These people are much more connected with
and Proper” policies under the corporate governance (Public Bank Berhad, 2014). There are various policies included, and the formation of the policies is to assist in maintaining the integrity and reputation of the business. For instance, there is ‘Anti-Fraud Policy’ which would prevent any fraud, or any attempts on doing so from happening. If such things occur, the whistle-blowers would be able to report such crime to the authorities. Corporate Social Responsibility (CSR) might be one of the greatest
Citibank--The Confia Acquisition in Mexico Focus: Organizational Integration, Products, Human Resources, and Global Strategy after Acquisition Introduction On August 12, 1998, Citibank took full ownership and control of the medium-sized Mexican banking group, Confía, dropping the latter's name and logo from the 280 branches throughout Mexico, and from that point on operating it as part of Citibank Mexico. The road that led to this outcome was rocky to say the least, and the fit of the Mexican
Introduction Taiwan, it is the country abundances with wonderful history. It is a country where you can find happiness, joyfulness with their unique cultures. Taiwan is located at the southeastern coast of China; it is an independence country however Taiwan has a connection with its mainland China. Taiwan is also one of the recommended tourist destinations, as their Taiwanese street food, cultures, unique attractions and etc. Before you pack your bags, researches are always a must. Tourists are
Most gangs are created to form a sense of power and control. All types of problems are presented to the youths of today growing up in major cities. Before being so eager to jump to conclusions, we must try to understand these problems, or we will never find a solution to them. Gang members are out there trying to find a family that some never had. It may not seem like much to you - an abandoned house or a park - but it becomes a place to call their own. It’s easy to say “why don’t they ever leave
Internship Report on “STUDY ON EFFECTIVE MARKETING STRATEGIES FOR THOMAS COOK LTD” BY [AJAY KUMAR TIWARI] [USN: 1AM13MBA01] Submitted to VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELGAUM In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION Under the guidance of INTERNAL GUIDE EXTERNAL GUIDE Mr. BASAVARAJ. M. G Mr. PRASOON MUDAPPA