Money Laundering Essays (Examples)

Offenders here might physically transport cash to those countries in small amounts that will not violate customs regulations. However, this method is not viable for transferring large amounts of money.
Very large amounts of money can be informally transferred through a network of bookees across a number of different countries. Such bookees possess or have access to large amounts of cash. ookees in the destination country can disburse money to individuals upon request from the corresponding bookee in the origin country. More research needs to be done exploring the various informal methods of money laundering to identify participants and offenders who have heretofore gone unnoticed.

ibliography

Featherstone, R. & Deflem, M. (2003). "Anomie and Strain: Context and Consequences of Merton's Two Theories." Sociological Inquiry 73(4):471-489.

Walker, John, and rigitte Unger. "Measuring Global Money Laundering: The Walker Gravity Model." Review of Law & Economics. 5.2 (2009). Print.

18 USC § 1956…

Under the Annunzio-Wylie Act, the U.S. Treasury is authorized to require financial institutions to adopt anti-money laundering programs that include: (a) internal policies, procedures, and controls; (b) designation of a compliance officer; - continuation of an ongoing employee training program; and (d) an independent audit function to test the adequacy of the program.
Source: Zagaris, 1999, p. 1023.

Therefore, building a case against sophisticated money-laundering schemes begins with recognizing when a violation of one more of the controlling laws have been violated, and understanding which law enforcement organization is the most appropriate for handling it and these issues are discussed further below.

How a Case is Built against Money Launderers.

While any of the foregoing current laws could be used in building a case against money laundering operations, the Money Laundering Control Act's ("the Act") expanded definition of "money laundering" activities has provided investigators with the ability to reach the…

S. Department of Justice Press Release, 2007). Hiding money in banks of small island nations is a popular form of money laundering, hence the term 'off-shore' companies for the use of concealing funds as well as creating the off-shore gambling facilities themselves.
Relationship between Illegal Drugs and Gambling

The illegal drug trade and illegal gambling often exhibit a symbiotic relationship in the case of money laundering. Casinos have also been used as ways for drug traffickers to launder money as criminals, including drug traffickers, cash in the 'chips' of their winnings -- the purchase of the original chips may have been bought with illegally obtained funds, but by cashing in the chips the funds now appear to be 'earned' through gambling. Even the state lottery has been implicated in money laundering schemes. Members of a cocaine ring engaged in one scheme whereby they would "purchase winning four-digit State of Michigan…

Combating Money Laundering - Imperative to Cut down on Terrorism
FATF - Financial Action Task Force

GAO - General Accounting Office

UGAO - United States General Accounting Office

OECD - Organization of Economic Cooperation and Development

IFA - International Federation of Accountants

Money Laundering

What is Money Laundering?

The act of converting money earned from illegal activities such as drugs, arms smuggling and other crimes, including insider trading, embezzlement, bribery and computer fraud schemes as well as fraudulent pyramid marketing schemes, all of which generate vast sums money which can be moved between locations only by what is called money laundering. Since these large amounts are not declared to the government, and since these perpetrators have no intention of paying tax at any level to any authority, they devise a million ways to break their profits into different entities, invest and spend the money without falling into the hands of…

"Arabs Wage War on Money Laundering: Arab Governments Are Adopting Strict New Standards to Prevent the Misuse of Banks in the Middle East by Terror Organisations and Financial Manipulators. These Efforts Could Enhance Efforts to Develop New Global Financial Centres in the Levant." The Middle East: 6+.
Tracy Tucker Mann, 2007 "Money Laundering," American Criminal Law eview 44, no.

Kathryn L. Gardner 2007, "Fighting Terrorism the FATF Way," Global Governance 13, no. 3.

How is Money Laundered?" 2008, Money Laundering FAQ, FATF-GAFI.

Kathryn L. Gardner 2007, "Fighting Terrorism the FATF Way," Global Governance 13, no. 3.

hys Jones January 2007, "The Money Changers: International Police Are Investigating a Complex Drug-Money Laundering Operation Based on the Ancient Hawala Money Transfer System, Which Has Links in Dubai, Turkey, Afghanistan and Italy," the Middle East.

How is Money Laundered?" 2008, Money Laundering FAQ, FATF-GAFI.

Josh Martin July 2006, "Arabs Wage War on Money…

CCTV installation and burglary reduction?) and set out a short list of clear aims and objectives.
Please enter Introduction in below text box*

How is organized crime linked to money laundering in contemporary society?

Over the past years, there has been increased interest in money laundering activities. Money laundering, as defined by Bartlett (2002), is the set of activities through which criminals generate profit by disguising the origin of the profit as a legal origin rather than an illegal one. Cressey and Finckenauer (2008) argue that money laundering is a significant part of the work of criminal gangs because without these activities, it would be extremely easy to seize them since the source of their money will be jeopardised.

As argued by Janet Reno, former Secretary General of Security Issues in the United States National Strategy against Money Laundering, money laundering gives two aspects to the financial angle of criminal…

Luijerink & Maguire (2013), Australia's money laundering laws are among the world's toughest, particularly with regards to reporting requirements. egulated entities are required to report all international electronic funds transfers, regardless of size (Luijerink & Maguire, 2013). ecent anti-money laundering legislation like the Anti-Money Laundering and Counter Terrorism Financing Act of 2006 have been severely criticized for their contradictory ability to glean more information but result in minimal increases in prosecutions due to the strict interpretation of the electronic funds transfer clause. Increased reporting of the electronic funds transfers offers "more information to inform investigations, but conversely require additional resources to process and analyse the information," (Luijerink & Maguire, 2013). Australia's laws are tougher than many other comparable nations due to the electronic funds transfer clause, and also to strict penalties -- prison sentences of over twenty years and fines in the millions. In spite of these provisions, other jurisdictions…

Money Laundering: The Global Financial Crisis There is disturbing evidence that money derived from the illegal sale of drugs was one of the primary means through which some banks remained solvent through the global financial crisis of 2008. According to Rajeev Syal of The Guardian, “Inter-bank loans were funded by money that originated from the drugs trade and other illegal activities,” resulting in the rescue of banks that otherwise could not have stayed solvent. Although this might seem to be a benefit for society, it does not exculpate the violent crimes which occur as the result of the drug trade. Unfortunately, this means that there may be an incentive not to be fully vigilant about the sources of money still necessary for some banks to thrive and underlines the dark side of the banking industry. It may also cause banks to subtly pressure for less regulation of money laundering in…

money laundering from the perpetrator's perspective. In specific, it will address the questions of whether virtual money can be counterfeited, whether the money can be trailed, and who can access the devices used for financing the system.
The simplest form of money laundering entails making it appear as though the money derived from one source (say, Source A) actually comes from another (Source B, for instance). That is, criminals perpetrating this crime attempt to cover the origin of their illegally-procured money, making it appear as though their source was lawful. If they do not do so, they will not be able to utilize that money, as a link could be established between it and some criminal activity, causing law enforcement personnel to seize the money (Money Launderering Basics - How Money Laundering Works - Howstuffworks). The practice of money laundering constitutes a key step in successful white-collar crimes, terror activities,…

Resource Capacity Planning Objective - to provide guidance for enhancing the approach and documentation relating to Citi AML Consent Order project plans for a few areas where there have been questions, observations and gaps. This guidance is intended to assist in minimizing questions and feedback in areas that are common.
· Definition
· Capacity planning is an approach that enables entities to efficiently and effectively oversee operations – whilst taking into consideration the finite nature of resources.
· The relevance of capacity planning when it comes to the determination of optimal utilization of resources cannot be overstated. This is more so the case given that it plays a key role in the decision making process, especially when it comes to capacity plan execution.
· Benefits of Capacity Planning
· Capacity planning comes in handy in seeking to avert resource imbalances and resource misallocation.
· Capacity planning is key in the…

A much more important avenue of interdiction to combat terrorism (and the drug trade, for that matter) is money laundering, by which money for illegal goods and services changes hands on the black market. Money laundering is facilitated by corruption within state institutions and international banks and can be most effectively fought there (Blank, 2001). Some potentially effective means of reducing money laundering include: providing more oversight and transparency to international banking, reducing layers of bureaucracy in government institutions in which below-board transactions can take place beyond the reach of law enforcement, and enacting strict penalties for corruption. While it will be impossible to fully eliminate money laundering, these are important key steps that can be taken.

eferences

Blank, S. (2001, December). Narcoterrorism as a threat to international security. World and I, 16(12), p. 265.

Felbab-Brown, V. (2006, January). A better strategy against narcoterrorism. MIT Center for International Studies. The…

economic crisis in Europe and the increasing costs for European countries to borrow money and bail out other Euro countries in financial distress. The EU nations that use the Euro have experienced a crisis among certain countries with high debt requiring bailouts for Greece and Ireland and the likelihood that Portugal and Spain may also need a bailout. Postponing the restructuring of high interest debts has led to further crisis rather than resolving any of the problems faced by insolvent countries. Huge transfer payments from the more powerful Euro countries, like Germany, to the failed economies of Greece and Ireland have made investors nervous and led to less investment at a crucial time. The author suggests that the debts of troubled countries need to be restructured now in order to create a sustainable payment to increase confidence and secure future payments.
Creditors will also have to shoulder some of the…

electronic money, and a description into the various types of electronic money.
Computers and telecommunications devices may come in place of paper currency and checks - during a course of time. Also, electronic ways of transaction of money have turned out widely prevalent. Anyhow, in the recent past debate about "electronic money" has witnessed a dramatic change, narrowing down to the level to which new ways of electronic money will in course of time turn central banks out of date, making them fragile that they cannot manipulate inflation. (Stevens, 72) Electronic money can be considered in terms of electronic substitute for coins and banknotes, which is saved on an electronic gadget such as a chip card or computer memory and which overall is meant for the reason of influencing electronic payments of restricted loans. (Directive 2000/46/Ec of the European Parliament and of the Council, 2)

Analysis

Electronic money is not…

It is highly unlikely that they would become involved with illegal activities knowingly. However, the complicated nature of compliance risk and the high expectations within the banking industry make it possible that some legal manner might be overlooked.
Chief Compliance Officers are at particular risk due to the nature of their position and should be increasingly diligent to maintain a proper understanding of the expectations of compliance. Additionally, Chief Compliance Officers and the operations department should be aware of the current weaknesses within their own AML programs.

In an effort to minimize these risks, HSBC Bank USA has recognized the need for more purposeful measurement and management of compliance risk.

Legal and operational risk can quickly and efficiently hamper the activities of any bank. However, it is reputational risk that poses the greatest risk to HSBC Bank USA. Banks that are associated with money laundering, terrorism, and criminal activity in…

In 2003, new procedures were created and they state that "companies accredited with receiving money relating to public subscription in securities must take all necessary measures to ensure the legality of the sources of the money used in the payment of such securities, in compliance with the provisions laid down in the Prevention and Prohibition of Money Laundering and its Implementing egulations" (Terterov and euvid, 2005).
Banking institutions are also focused on reducing money laundering and the principal actions they implement in this endeavor are those of fully complying with the regulations imposed by the central banks and the legislations in their home countries. More recently, the banks can access technological innovations to fight money laundering, such as LexisNexis's Bridger Insight XGTM (Tech 4 Law). But since the access to technologies is different at each bank, a conclusion is drawn that the internal reactions to money laundering are different. The…

Thus, many shipments go to another destination before the United States or Europe in order to throw law enforcement off of the trail. For cocaine coming out of Colombia, West Africa and Venezuela, home to rogue states and dictatorships, have become popular transit hubs.
The increased transportation of goods accompanying globalization has increased opportunities for maritime piracy. Organized crime is exploiting the increasingly dense international flow of commercial vessels. Maritime piracy consists not only of hijacking of goods, but also kidnapping of passengers for ransom. (UNODC, 2010, p. 11)

OC groups engaged in pirating do not often begin as OC groups. Pirates off the cost of Somalia started as local Somali fishermen who formed vigilante groups to protect their territorial waters. These armed ships eventually exceeded their mandate of mere protection and began to hijack commercial ships for goods. These activities have proved so profitable that these groups are now…

Computer-Based Crime
The illegal site I reviewed for this assignment is www.howtogrowmarijuana.com. This site covers virtually all aspects of marijuana growing -- which is an illegal activity because marijuana is widely outlawed in the United States. However, there are some states in which individuals can legally consume marijuana for medicinal purposes. In these states and others there exists the potential for businesses to legally supply this substance to people.

There is a large degree of transparency in this particular web site. It was the first result to appear with a Yahoo search for "How to grow marijuana." As the tile of the site suggests, it discusses many different facets of growing marijuana and stratifies this process according to location (indoor or outdoors), various strains of marijuana including seeds (No author, 2014), irrigation and growth systems involving hydroponics, and other germane equipment types such as the expensive lights used to assist…

Stanford Ponzi Scheme
A Ponzi scheme is an investment fraud involving the payment of returns to existing investors from funds contributed by new investors. There is generally no actual investment. Instead, the managers/organizers of the schemes "focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity" (SEC). Investors are attracted to Ponzi schemes because those running the schemes promise high returns and say that there is little or no risk. Moreover, because money from new investors is used to pay the older investors, early investors do see the promised high returns. Unfortunately, because there is no legitimate investment income driving the fund, when the scheme fails to attract new investors or existing investors get leery and seek to cash out of the fund, the entire scheme collapses. There are some red flags that an…

International Crime, Terrorism, And Organized Crime Trends
Comparing contrasting topics international crime, terrorism, organized crime trends

This research has confirmed the possibility of close correlation between money laundering activities, Islamic terrorist fundraising, organized crime, and corruption of public officials throughout Brazilian Hizballah region. The organized crime networks and the Islamic extremists of Brazil must be examined in collaboration because they are connected to wider networks in Latin America zone and across the world. All the organized activities and terrorists in Brazilian Hizballah were facilitated by corrupt officials, which were driven by the benefits of lucrative criminal activities conducted such as business ventures by terrorists and organized crime groups. Consequently, there was a mutually beneficial association among the three sectors. In this study, Brazilian Hizballah will serve as a microcosm.

Introduction

A number of free-Trade American regions with massive Middle Eastern populations permit organized crime mafias, Islamic terrorist groups, and corrupt…

Subprime loans are said to be among the biggest reasons for the most recent financial crisis which hit the world economy at the end of year 2008. Had the lenders considered the level of income and repaying abilities of the borrowers before lending them money, the World's financial sector would not have seen such critical circumstances. The consequences of subprime loans have not ended yet; economists and researchers in the field of International Finance are of the view that they may further get worsen in the coming five to ten years period. Beside the criticism regarding the approval of subprime loans to low income borrowers, the lenders have also been strongly criticized for using unethical business practices in their customer dealings and transactions (Mandal, 2010).
This paper investigates the consequences and risks that were caused by subprime loans in the World's financial sector and their impact on the lenders, borrowers,…

organized crime scholar Mark C. Gribben, defines organized crime as "an ongoing criminal enterprise consisting of multiple actors working for economic gain who use or will use force to promote and protect their enterprises." y this definition a number of groups might fit into the definition of organized crime. Street gangs, hate groups, drug cartels, and the Mafia are merely the tip of the iceberg when it comes to organized crime in the United States.
The preceding graphic demonstrates the scope of organized crime in America. It is important to understand that the crimes within the largest circle are those which are generally considered organized in nature. Those outside the circle, such as the solo murder or the one-time bank robbery are not considered to be organized. They key elements of organized crime must include "ongoing criminal activity with multiple actors."

The following pages will explore organized crime in America.…

The asylum automatically granted under the Swiss constitution was denied for those seeking it for religious reasons. y 1942, only 9,150 foreign Jews were legally resident in Switzerland, an increase of just 980 since 1931. It was the Swiss government that requested the German government to help it identify Jews by stamping all Jewish passports with a prominent letter "J," following the Nuremberg acts in 1935. "y 1942, acting at the behest of Switzerland's establishment and the majority of its people, its authoritarian police apparatus was dedicated to keeping the country 'pure' and to saving it from being 'overrun with Jews'." Until 1942, the working Jewish community in Switzerland was forced by the government to support Jewish refugees.
The other side of the German interest in Switzerland's banks was related to the business of Germany and the looting of conquered countries. y 1941, Germany had exhausted all of its foreign…

National Institute of Justice (NIJ): Department of Justice
Research question/hypothesis

Importance of research to general knowledge

Methodology (Data collection approach, collection of data and analysis techniques)

f. Analysis techniques to be implemented

Main Body

The purpose of the proposal

Review of relevant literature

Implication of policy and practice

Dissemination strategy

Dependant and Independent variables

Due to tremendous increase in crime rate, there is urgent need to evaluate and understand criminal behavior, to implement programs and develop strategies that will prevent criminal activities and curb crime increase, using considerately cost effective approaches and technological inputs.

With regards to the nature of the problem, the most convenient way that will be cost effective and easy to implement will be the use of Reserve Officer Training Corps (ROTC) programs being integrated into the high school syllabus as an incentive which will make the program more appealing to the students, hence allowing for prevention…

Because the home country is not required to reimburse foreign depositors for losses, there is no corresponding financial penalty for lax supervision; there is, though, a benefit to the country with lenient regulatory policies because of increased revenues generated and the employment opportunities these services provide (Edwards 1999). Furthermore, banks seeking to conduct multinational business are attracted to countries where incorporation laws and the regulatory framework offer less regulatory oversight (Edwards 1999). The quid pro quo nature of offshore financial services is clearly indicated by Edwards's observation that, "Multinational banks provide the offshore financial centre with increased tax revenue and employment for its citizens. Because the benefits outweigh the costs, offshore financial centres have a powerful incentive to maintain lenient regulatory policies. As a result, multinational banks incorporated in an offshore financial center successfully avoid supervision by an effective home country regulator" (1999, p. 1267). Given the scope of the…

Illicit Finance
Why is the internet important to money laundering?

A large number of nations now have aggressive policies in place against money laundering, rendering it exceedingly difficult for offenders to apply traditional money laundering tactics. But this also leads them to strive at creating new tactics with the Internet being one of the popular new modes they employ (Kassner, 2013).

Globalization and the Internet have made it possible to pay for services online. Several online merchants and customers make use of the numerous web-based payment services available. A number of these individuals aren't eligible to own credit cards or have no bank accounts. Thus, web-based payment services enable them to purchase products/services online and transfer cash directly. Numerous online sellers are very willing to get paid online, since they are cheaper than credit card payments (Delta & Matsuura, 2008).

The web-based payment services may be located anywhere in the…

Ashley, Assistant Director, Criminal Investigative Division of the FI relates that in 1991: "...the U.S. Attorney's office in Los Angeles charged 13 defendants in a $1 billion false medical billing scheme that was headed by two Russian emigre brothers. On September 20, 1994, the alleged ringleader was sentenced to 21 years in prison for fraud, conspiracy, racketeering, and money laundering. He was also ordered to forfeit $50 million in assets, pay more than $41 million in restitution to government agencies and insurance companies victimized by the scheme." (2003) Ashley relates that the first Eurasian organized crime investigation of a significant nature involved a major underworld figure in the United States and specifically, Vyacheslav Ivankov who is a powerful Eurasian organized crime boss. Ashley states that Ivankov "...led an international criminal organization that operated in numerous cities in Europe, Canada, and the United States, chiefly New York, London, Toronto, Vienna, udapest,…

Criminal gangs do exploit global trade networks using confusing documentation associated with legitimate business transactions. Such criminals ideally make use of Trade-ased Money Laundering (TML). This is a scheme that Colombian drug cartels have capitalized on. Homeland Security Intelligence has in this regard instituted Trade Transparency Unit (TTU) to counter TCOs resolve to launder illicit proceeds through manipulation of international trade and financial systems. The TTU partners with foreign nations to exchange trade data
. It has partnered with Mexico, Panama, razil, Colombia, Ecuador, and Paraguay to mention but a few countries with a view to identifying, investigating, and prosecuting international criminal gangs that engage in TML. The ICE, ITU, and intelligence analysts in the field together with the foreign customs and law enforcement agencies responsible for border control and enforcement of financial crimes make use of TTU's computer systems called the Data Analysis and Research for Trade Transparency System…

History Of Organized Crime
More than a century of motion pictures and more than a half-century of television productions have created a somewhat romanticized version of organized crime as typified in "The Godfather" series. Indeed, there is even a National Museum of Organized Crime and Law Enforcement, commonly known as "The Mob Museum" in Las Vegas which is a popular tourist destination (Green, 2013). The reality of organized crime, however, contrasts sharply with any romanticized depiction and the Federal Bureau of Investigation (FBI) emphasizes that organized crime is not only prevalent in the United States, it has become far more complex and broader in scope compared to the past. To determine the facts about the history of organized crime, this paper provides a background and overview followed by an analysis of some of the main sources of revenues for these criminal organizations. Finally, the paper concludes with an analysis of…

Mexico faces an array of drug-related problems ranging from production and transshipment of illicit drugs to corruption, violence, and increased internal drug abuse. Powerful and well-organized Mexican organizations control drug production and trafficking in and through Mexico, as well as the laundering of drug proceeds. These organizations also have made a concerted effort to corrupt and intimidate Mexican law enforcement and public officials. In addition, the geographic proximity of Mexico to the United States and the voluminous cross-border traffic between the countries provide ample opportunities for drug smugglers to deliver their illicit products to U.S. markets. The purpose of this study was to develop informed and timely answers to the following research questions: (a) How serious is the trade in illicit drugs between Mexico and the United States today and what have been recent trends? (b) How does drug trafficking fund terrorist organizations in general and trade between Mexico and…

The grand jury returned a 112-count indictment against Steve Warshak, company president; his mother, Harriet Warshak; general counsel Paul Kellogg; and former employees Charles Clarke Jr., Steven Pugh and Amar Chavan. A company called TCI Media, which was allegedly used to launder money, was also part of the indictment. The charges include 77 counts of money laundering, 12 counts of mail fraud and four counts of bank fraud (Berkeley president, others indicted for fraud, 2006).
After the Grand Jury indictments were handed down The U.S. Attorney's Office in Cincinnati filed a new complaint against Berkeley Premium Nutraceuticals that included the freezing of various assets worth almost $2 million. The complaint alleged that Berkeley owner Steven Warshak and others participated in a complex, large scale mail and wire fraud operation. This amounted to another felony charge being added to the long list that had already been handed down. The frozen assets…

There are ten Fraud Detection Centers across the United States, and these are meant to detect refund fraud and to identify prevention measures. Each of these offices has a Resident Agent in Charge to direct, monitor, and coordinate operations supporting electronic and paper tax filing, and each Center performs activities that include educating Submission Processing Center and Customer Service Center personnel on fraud awareness and detection.

Criminal investigation in the agency started shortly after the Revenue Act of 1913 was passed, and that act imposed a modest tax of 1% on net incomes of individuals, estates, trusts, and corporations. In addition, another tax, or surtax, graduated from 1 to 6%, was applied to income exceeding $20,000. Over time, many laws have been passed that have changed the rates and other aspects of revenue assessment. Tax evasion was noted as early as 1919, when many serious allegations concerning alleged tax frauds…

Policy ecommendation in Combating Terrorism
Policy Project Part 1: Project outline

In the aftermath of the September 11 terrorist attacks, the U.S. government and the international community reviewed typologies for the financing of transnational terrorism and examined ways to combat such financing. Unfortunately, evidence indicates that al Qaeda and other terrorist groups apparently affiliated with or inspired by al Qaeda have worked quite economically, using low-budget methods to operate. After reviewing two typologies, this part of the paper discusses applicable legal mechanisms for preventing and prosecuting the financing of transnational terrorist networks and considers proposals for improving the effectiveness of efforts to combat foreign-affinity terrorist financing (euter & Truman, 2004; Carter, 2008).

Typologies

The evolving effects of globalization and the transnational nature of terrorism have combined to create almost limitless possibilities for terrorists looking to finance operations (Sheppard, 2008). One problem with combating terrorist financing is that many forms of…

Organized crime presents certain unique challenges for law enforcement in the 21st century. As noted by Bjelopera & Finklea (2012) in their report to Congress on the history of organized criminal activity in the United States, modern organized criminal networks tend to be more fluid and less hierarchical than organized associations of the past. Organized crime networks are also more apt to outsource critical aspects of their operations, which can make building a unified case a challenge for law enforcement agencies (Bjelopera & Finklea, 2012, p.1). Diverting resources to combat terrorism have also left law enforcement agencies in the United States with fewer financial resources to combat other forms of organized crime, although some of the methods to trace both types of organizations, such as patterns of money laundering, are similar between both of these types of illicit associations.
Organized crime is defined as "criminal activity that, through violence or…

Illicit finance has come to be a significant issue not only locally, but also internationally. There are numerous delineations of illicit finance, but fundamentally it comes about from the practices, approaches and crimes targeting to transfer financial capital within and out of a nation in violation of national and global laws. Across the world, government administrations are working in tandem and joining forces to combat different illicit financial flows, which include tax evasion, global bribery and money laundering (OECD, 2014). Despite the fact that the precise scale of the problem is unidentified, illicit finance has had shattering and disparaging effects on developing nations. In the recent number of years, nations have executed and put into practice standards and abided by most recommendations provided (OECD, 2014). The fight against illicit finance is largely dependent on the quality of state regulations and whether they abide by the set global best practices. This…

R.T. Naylor has a unique, and some might say even rogue, interpretation of bin Laden and al Qaeda. While Naylor spends the entire Wages of Crime focusing on the flows of black market and blood money, he does so within a morally relativist framework. Chapter Seven of Wages of Crime is an addendum, new to the most recent edition of the book that was originally published prior to September 11. Responding to the pressing push to apply the economist’s approach to terrorist financing, Naylor understandably adds this chapter as part of his ongoing narrative on the wages of crime. Given the tenor and themes contained in the rest of the book, it comes as little surprise that Naylor reaches the conclusion that cutting off sources of terrorist financing is an unfeasible, ineffective, and perhaps even morally inappropriate method of addressing the problem of non-state actors. In an interview with Standard…

Sealing Up the Cracks
Security in a Post-9/11 World

On September 11, 2001, America was changed forever. From out of the ruins of the World Trade Center, and over the unmarked graves of nearly three thousand innocent people, a new world took shape. It was a world in which the citizens of the United Sates found themselves suddenly vulnerable to the murderous plots of a handful of fanatics. A trip to the mall, a drive over a bridge, a meeting at the office: an everyday event could spell disaster. Americans were discovering for the first time what so many around the globe had known for years, that the scenes of daily life could become the settings of terror. ut what was to be done? Were the people of the United States to spend their lives looking over their shoulders? Was the free and open society so cherished by each and…

Financial and law enforcers, military and reporting of intelligence are carried out by respective agencies drawn on limited coordination efforts (Whitmore, 2002). While agencies can pull and push intelligence data, these structures lack a centralized system for collecting intelligence. This limits the ability to conduct a meta-analysis of data across inter-agencies systems. Lack of proper coordination efforts reduces the usefulness of financial intelligence thus making it difficult to link the financial intelligence with other useful information. Critics claim that financial evidence is useful in supporting a case; it does not lead to prevention of terrorism attacks (Linden, 2007).
However, a centralized system of coordination may be an effective way of exploring financial data through linking it with other useful information. This can be made useful if the agencies improve their overall understanding of the financial networks of terrorists. The new homeland security departments are signals that there are efforts for…

S. interests. What is different is that we have names and faces to go with that warning."3 This emphasis on recognizing the adaptability
3 Dennis C. Blair, Annual Threat Assessment of the U.S. Intelligence Community for the Senate Select Committee on Intelligence, (U.S. Senate Armed Services Committee, 2010).

of the terrorist is central to the government's overall response, in terms of both planning and execution, as evidenced by findings presented in the wealth of threat assessment material released to the public each year.

With the oft mentioned terrorist training camps and secret underground bases littered throughout the Middle East long since located and reduced to rubble, jihadists the world over have increasingly turned to the internet to lure potential borrowers and launder funds on a global scale.4 the last Homeland Security Threat Assessment, delivered to the Senate Select Committee on Intelligence in 2008 and covering the period from that date…

The UAE and IsraelIntroductionIsrael has been, for most of its existence, involved in some form of conflict with the Arab world. However, the Arab world itself is largely conflicted between the Sunni and Shia states. Israels recent pivot toward forming greater relations with the Sunni states has indicated an improvement in relations between Israel and at least part of the Arab world. Yet, making matters more complicated is the fact that Palestine remains largely Sunni, and Palestine has viewed the Sunni states relations with Israel as a betrayal of the Palestinian peoples fight for independence and autonomy. For that reason, Palestine has disapproved the new relations between Israel and the UAE. As a Sunni majority state, the UAE…

(Olson, 1999) the feminist theory is when you are making the arguments that the social structure in place is unfair or targeting a particular group of people. The critical legal studies theory is when you are looking beyond the issues of civil liberties and are instead focused on if the action is effective in supporting particular rights. The moral theory is when you are arguing that the best way to interpret the law is based upon what is best for society using: case precedent, established legal principals and the law. Intellectual capitalism is when you are arguing that freedom of speech is the best way for the minority of having their voices heard. Where, you are using the different actions to justify that the government could be stifling this free speech, which is leading the activity in question. The over regulation theory is when the federal / state government will…

The result is thousands of people denied the necessary refuge that they seek. Clintora condemns this as a "major policy gap (that) threatens not only human rights in individual countries but also jeopardizes international and regional stability and American regional influence and economic interests."
Kreimer (2007) expounds upon the fact that few legislators had time to fully read the PATIOT Act, when it was first proposed. Once enacted, there was significant concern about the expansion of powers for unchecked surveillance. However, many of the Acts provisions were subject to a four-year sunset requirement. It was believed that Congress would carefully examine how organizations, such as the FBI, utilized their power under the PATIOT Act, when deciding whether or not to certain provisions would go by the wayside come 2005. Yet, in 2006, after much political wrangling, most of the PATIOT Act was reenacted, with little change to the original wording,…

Jewish people believed they were promised land of their own, and the Palestinians believed that they would be given a defined homeland as well. However, the governments making these decisions were outside the Middle East and were acting in their own interests, not the interests of the people living in the areas affected. When the United Nations recognized Israel as a political entity after World War II, it did so in response to the outrage of Germany's Holocaust. While this was understandable to Western countries, Palestinians felt that they had been cheated out of their homeland and that instead it had been given to Israel.
The differences between fundamentalist and more moderate Islam comes down to the nature of Islamic belief. Islam does not make any real distinction between religion and government. In the Koran, religion and government are completely intertwined. So to fundamentalist Moslems, a non-fundamentalist Islamic country in…

These liberties are those on which this country was formed and have been upheld for many years as absolute certainties.
The Patriot Act has put a lot of doubt on whether these liberties are still protected guarantees. With this act giving the Government the power to use wiretaps to spy on people, search warrants to look for things that they don't even have to tell you about and the ability to look at ones private computer records it makes you wonder what this country is coming to. How is it that we the people have allowed it to come to this? What has happened to the guts on which this country was built? Back then this type of act would never have been passed and put into practice. Although it can be argued that this is because times are so much different now than they were back in the day,…

The finance world is finally abuzz with news of bitcoin and other cryptocurrency. What are cryptocurrencies, and what do potential investor need to know about them? This bitcoin essay offers a brief background of bitcoin and other cryptocurrencies, also referring to the blockchain software that underlies them. Then, this bitcoin essay explores what financial analysts say about the viability of bitcoin as an investment. Finally, this essay will how and why people purchase bitcoin, as well as how bitcoin can be used as both currency or as investment.
Because they are taking the financial world by storm, is important to learn about bitcoin and other cryptocurrencies. This bitcoin essay will explain bitcoin in simple terms anyone can understand. Ultimately, this essay will show that bitcoin is a risky but potentially lucrative investment. Although the numbers of “bitcoin billionaires” is low, there are a lot of ordinary people who have made…

I work in a Kuwait finance house bank in the anti-money laundering department. The department is under the oversight of the risk management department. My job is to assist in making sure that the finance house is in compliance with all anti-money laundering regulations. It is a very important job because failure to abide by the rules can lead to severe penalties for the institution. The bank must also work with larger regulatory bodies so as to prevent money used by terrorists from being laundered through the bank. This job requires a lot of thinking and monitoring and it is important to pay attention to the details. As a leader in my department, I have to be in communication with various people and stakeholders because of the nature of the work. I am always in contact with different people and looking at data and making important decisions that will impact…

I work in a Kuwait finance house bank in the anti-money laundering department. The department is under the oversight of the risk management department. My job is to assist in making sure that the finance house is in compliance with all anti-money laundering regulations. It is a very important job because failure to abide by the rules can lead to severe penalties for the institution. The bank must also work with larger regulatory bodies so as to prevent money used by terrorists from being laundered through the bank. This job requires a lot of thinking and monitoring and it is important to pay attention to the details. As a leader in my department, I have to be in communication with various people and stakeholders because of the nature of the work. I am always in contact with different people and looking at data and making important decisions that will impact…

Since ICO focuses on a pattern of behavior instead of just on the criminal acts that are involved prosecutors find it relatively easy to prove these cases. If an organization is convicted of committing two of the specified crimes within a ten-year period then they can be convicted of racketeering.

Legitimate business owners deserve to have protection from groups that wish to pursue illegal activity. The ICO Act was put into place in order to afford these legitimate businesses this protection. Since the interpretation of the ICO Act has been expanded we have also seen protections from mail fraud and wire tapping to be included in the protections that are guaranteed to the people. The ICO Act is always going to be subject to interpretation, but the protections that if gives business owners will always be seen as good.

eferences

Cecil, Greek. (1991). Is This The End of ico? Or…

Similarly, an offshore might set up a wholly owned subsidiary in an OFC to extend offshore fund administration facilities or other facilities. (the future for offshore financial centers (OFCs)) multinational corporation establishes an offshore bank to deal with its foreign exchange operations or to ease out financing of a joint venture spanning on a global basis. An onshore bank sets up a wholly owned subsidiary in an OFC to extend offshore fund administration services. The proprietor of an onshore bank coming under legal regulation sets up a branch "satellite" bank in an OFC. The appeal of an OFC might comprise no capital tax, no restraining tax on dividends or interest, nil taxation on transfers, nil corporation taxes, no capital gains tax, no exchange controls, lenient legal rules and management, less strict reporting necessities, and trading limitations. Offshore corporations or international business corporations -IBCs are means having restricted liability recorded in…

Enron Corporation was the American company that specialized in supplying of energy.
Prior to its collapse in 2001, Enron was one of the most admired companies in the United States recording superior profits year by year, however, in 2001, series of the Enron questionable financial transactions were finally made opened when the company's stock price collapsed within one day. This study investigates several factors that led to the fall of Enron Corporation, the outcome of the investigation reveals that the top management did not promote culture of ethics within the organization. The paper reveals that the management was intoxicated with power manipulating information to their benefits. Moreover, top officials used power ruthlessly intimidating the subordinated. The company did not promote the culture of checks and balances by allowing only one entity performing both the functions of internal and external auditing. The study recommends that integration of ethical business is an…

Enron could engage in their derivative trading strategy with no fear of government intervention because derivative trading was specifically exempted from government regulation. Due in part to a ruling by the Commodity Futures Trading Commission's (CFTC) chairwoman, Wendy Graham, derivatives remained free of regulatory oversight. Ms. Graham, wife of Texas senator Phil Graham, made this ruling 5 weeks before resigning as chairwoman of the CFTC and joining the Enron oard of Directors in 1993.

Derivative accounting is further complicated because there is no consistent way to fairly report their value and risk in a company's financial report. In 1998 Rule No. 133, "Accounting for Derivative Instruments and Hedging Activities" was developed by the Financial Accounting Standards oard (FAS), an independent agency that sets guidelines for corporate auditors. Rule 133 contains more than 800 pages, which further complicates its adoption and consistent interpretation by various companies. SFAS No. 133 was subsequently…

Wolf of Wall Street, Jordan Belfort, committed a classic pump and dump scam, under the guise of his investment firm, Stratton Oakmont. This crime went on for several years before the company was investigated, closed, and Belfort sent to prison. The following paper outlines this case in detail.
The Crime & How it was Committed

The securities industry is governed by the Securities Exchange Commission, which exists in part to ensure that the capital markets are trustworthy. When investor trust in the markets is compromised, this makes it more difficult for firms to raise capital. Thus, it is imperative for any country to have securities regulators that ensure a fair and honest capital market system, including the stock market. There are many ways to commit fraud in the stock market, one of which is the pump and dump scheme that Stratton Oakmont committed.

The principle is fairly simple. The company…

Banks have thus the role of distributing these products to their customers. Added to that in the international arena banks are dealing more with derivatives and foreign exchange, making the role of the bank far more important in the overall well being of the economy. Banks are diversifying and redefining themselves as trading, banking and service institutions. The banks are multifunctional and are known by various terms like the 'clearing bank' in UK, 'Commercial banks' and 'Investment banks' or 'Merchant banks'. Banks are thus redefining themselves to suit the wider rage of operation sand services offered. (Cranston, 1997, p. 3)
2. Globalization of banking sector

Globalization is a phenomenon that has invaded all industries and human life. The changes that have come about after the break down of the cold war and the new social interaction between nations have affected the financial sector as well. Globalization has removed restrictions for…

(2009, Oct. 4). 25,000 Nepli girls involved in sex trde in Indin cities.
Commercil sex brothels in the towns of Delhi, Mumbi, Pune nd Kolkt feture young girls believed to hve been kidnpped from Nepl, ccording to the rticle. There re n estimted fifty brothels in Pune, nd mny of them re reportedly owned by dult women from Nepl. In those 50 brothels there re bout 500 Neplese girls working in sexul slvery, the rticle sserts. This informtion comes through report tht ws intended to get the medi interested in reporting these terrible crimes. Retrieved Feb. 13,

2010, from http://www.expressindi, com/fullstory.php?newsid=55901.

Hwii News Now. (2010, Februry 10). Hwii mn chrged with sex trfficking t Super Bowl. A mn who is lleged to be pimp from Hwii is being chrged with bringing teenge Hwiin girl to the Super Bowl in Mimi -- nd llegedly used her to mke money. Fred Collins…

If police officers are not sufficiently deterred by the prospect of evidence being suppressed at a hearing where a person's liberty is in jeopardy, it is a fortiori that they will not be deterred by the possibility of suppression at a civil forfeiture hearing where only the person's property is in jeopardy.
Law enforcement officials have much to gain in the outcome of the issues raised in Scott, and will likely bring challenges to the exclusionary rule in civil forfeiture. While the court's trend is moving away from applying the exclusionary rule in civil contexts, law enforcement agencies are increasingly relying on civil tools to attack crime. At the forefront of this movement is the use of civil forfeiture to seize the fruits and instrumentalities of the narcotics trade. Civil forfeiture statutes allow law enforcement officers to seize privately held assets that have been used in a crime, a practice…

Government

Since gang-related crimes fall within the jurisdiction of state, this research will give an insight on the need to find solutions that increasingly include all levels of government. Congress needs to pass legislation that will change immigration enforcement laws and make more aliens deportable. In addition, the federal government should take a more active participation in helping local and state jurisdictions develop anti-gang responses. The local, state and federal governments must take a stand, and combine forces to combat the immigration problem that continue to plague this country into the next generation.

Importance of the Study

The die has been cast, there is no turning the clock back now and the Mara Salvatrucha and 18th Street Gang have established themselves in the United States and far beyond. The origins of the current situation with MS-13 and the 18th Street Gang date back to the late 1980s and early 1990s…

Financial Crimes
Knights Templar

The Order of the Knights Templar (Poor Knights of Christ and the Temple of Solomon) was founded in 1118 to protect Christians on pilgrimage to Jerusalem (Blacktorne, 2011). The Order was sanctioned by King Baldwin II of Jerusalem and he quartered the nine original knights in the old stables at the Temple of Solomon. All members had to give over all of their wealth and goods to the Order and take vows of poverty, chastity, piety, and obedience just like other monks (Langue, 2011). A majority of the members joined for life, although a select few were also allowed to join for specific duration.

The Templars' were considered the first international banking organizations. Although this wasn't there specific title they charge a fee (interest) for issuing letters of deposits (checks). Some also view them as a multinational corporation; however the banking reference seems to hold more…

FCPA
The following till take a look at Foreign Corrupt Practice Act or in other words the FCPA.

Discovering the corporate payments difficulty in the middle of the 70s from a blend of work by the Watergate Special Prosecutor office, this includes related additional work and inquiry by SEC-Security and Exchange Commission and the Multinational Corporations Subcommittee by Senator Frank Church. In 1975, within four months, separate hearings were held by the Church Committee on Gulf Oil, Mobil Oil, Northrop, and Lockheed (Koehler). Every one of these corporations became the main subjects of allegations, concerning uncertain payments made either directly or indirectly to officials of foreign government or foreign political parties bearing a business purpose in mind. For example, the Gulf Oil primarily involved the contributions made to political campaigns of the epublic of Korea President. Northrop was mainly involved in making payments to a general in Saudi Arabia. Principally,…

Government
The Trafficking Victims Protection eauthorization Act

Final Project / Dissertation

Degree: Juris Doctorate Specialized

Major:

Specialization: Constitutional Law

Full Address:

The Trafficking Victims Protection eauthorization Act

This paper reviews the rights and protection that a state and federal government official provides to citizens that have been the subject of human trafficking crimes. Citizens need the protection of the police and other law enforcement officials to report human trafficking crimes and to protect and assist those that need their assistance. This paper will seek to explain the definition of human trafficking, how it works, victim support, issues with upholding and implementing legislature and the solutions which can be used to satisfy the public.

Table of Contents

Introduction

eview

Elements of Human Trafficking

Victims of Trafficking and Violence Protection Act of 2000

TVPA (2008)

Mann Act

Travel Act

Alien Smuggling, Harboring and Transportation

United States

New York State's Human Trafficking Law…

Combating Future Terrorism
The Continuing Threat Posed by Islamic Terrorists

Brinkley. J. (2013). Islamic Terror: Decentralized, Franchised, Global. World Affairs, 176(2),

Professor of Journalism Joel Brinkley explains that many countries around the world have been attacked by Muslim radicals (he includes Tanzania, where extremists beheaded a Christian pastor because he was training to become a meat butcher and the radicals asserted this trade was "theirs alone"), and that "…jihadist atrocities" have become a "status quo to be lived with" in many parts of the world. His point? There is violence all around the world due to the hatred and intolerance by radical groups, most of them Islamic, and Americans may as well get used to this chaotic and bloody situation. And indeed, he sees that more terrorist attacks against the U.S. are likely. He doesn't offer any way to avoid those attacks, however.

Loss of Some Civil Liberties and Americans'…

The government has authority to impose a civil penalty on a domestic entity or organization, and may bring charges pursuant to the Racketeer Influenced and Corrupt Organization Act based on predicate crimes that "include the offenses of providing material support or resources to a foreign terrorist organization, or intentionally or knowingly collecting or providing funds for use in carrying out terrorist activities, as well as money laundering" (Crimn 2004). Moreover, the Internal Revenue Service may suspend the tax-exempt status under the Internal Revenue Code of any organization that is identified or designated as a terrorist organization (Crimn 2004).
The attacks of September 11th were a wake-up call to authorities to the need for cooperation between the various agencies. The Patriot Act provided American local, state and federal agencies an arsenal of tools to investigate, prosecute, and deter terrorist activities.

orks Cited

Bulzomi, Michael J. (2002, July 01). Investigating international terrorism…