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Anti-Money Laundering (AML) Systems, 2007.
This paper discusses the effectiveness of anti-money laundering (AML) systems employed by Switzerland and the United Kingdom as compared to the U.S.A.
9,860 words (approx. 39.4 pages), 37 sources, APA, AU$ 321.95
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Abstract
This paper explains that the Financial Task Force on Money Laundering (FATF) was formed by the G-7 nations as an intergovernmental task force to examine money laundering trends, techniques and past AML actions and to develop new, more effective measures for implementation into anti-money laundering (AML) systems. The author points out that, although Switzerland and the U.K. have developed intricate AML systems as describe in this paper, the U.S.'s enforcement oriented AML system is the international leader. The paper recommends that AML systems could be strengthened by investigating and prosecuting money laundering activity in connection with every criminal offense, which is often associated with money laundering, such as terrorism, corruption and tax evasion This paper includes tables and graphs.
Table of Contents:
Introduction
Definition of Money Laundering
Trends in Money Laundering
Anti-Money Laundering Systems: International Standards
History of the Development of Anti-Money Laundering Systems
Anti-Money Laundering Systems: The United Kingdom
Anti-Money Laundering Systems: Switzerland
The Future of Money Laundering and Anti-Money Laundering Systems
Switzerland vs. the U.K.: How Effective are Their AML Systems?
Appendix 1: Country Page - Switzerland, IBA Anti-Money Laundering Forum
Appendix 2: Country Page - the United Kingdom, IBA Anti-Money Laundering Forum
Appendix 3: FATF - The Forty Recommendations
From the Paper
"It is important to understand past trends in methods for money laundering in order to predict and prevent the development of future methods. This is gained through an in-depth understanding of the prevalence and evolution of money laundering methods and their current and emerging trends. The identification of trends ensures that money laundering methods are understood and that action is taken to comprehend other key factors involved, such as context. Through its typologies effort, the FATF emphasized the identification and description of money laundering trends both at the worldwide level and on a more systematic basis."
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Money Laundering Regulations, 2005.
An overview of the Money Laundering Regulations 2003 laws.
1,898 words (approx. 7.6 pages), 19 sources, APA, AU$ 97.95
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Abstract
This paper examines how the use of money laundering to protect and fund terrorist activities is well known and how measures to effectively combat money laundering must be focused and proportionate. It deals with the main provisions of the Money Laundering Regulations 2003 and discusses the extent to which the regulations have been successful in combating money laundering.
Outline
Introduction
Previous Law and Effectiveness
Reporting Obligations
Legal Professional Privilege
Definition of Regulated Sector
Conclusion
From the Paper
"The Regulations apply to ?relevant businesses?, a term synonymous with being in the ?regulated sector? for the purpose of the Act. The Regulations require firms to maintain internal reporting procedures that require persons doing regulated work to disclose money-laundering suspicions, failing which the firm and in some cases partners, would be guilty of a criminal offence. However, the obligation to report suspicion is not qualified by any objective requirement that the suspicion be reasonable. It would therefore appear that genuine but unreasonable suspicion would also suffice. It is not necessary to establish that the person was actually aware or suspected money laundering, simply that he should have known or suspected the activity. "
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Money Laundering, 2004.
This paper discusses money laundering, a process of legitimization that conceals the illegal source of funds or, in the case of terrorism, the illegal application of income.
1,905 words (approx. 7.6 pages), 8 sources, MLA, AU$ 97.95
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Abstract
This paper explains that money laundering is a principal element in organized crime and in terrorism. The author points out that, recently, the focus of federal law regarding money laundering has undergone drastic changes as legislators think of it less in terms of the obfuscation of ill-gotten gains and more in terms of terrorism and national security. The paper relates the Enron and Worldcom banking scandals of late 2001 and 2002 also prompted legislators to review money laundering legislation.
Table of Contents
Introduction
Recent Developments
Money Laundering and Terrorism
The International Attempt to Combat Terrorism, Fraud and Criminal Activity
Legislation since the RICO and the ?War on Drugs?
Future Threats
From the Paper
"In conjunction with the Reagan Administration?s ?War on Drugs,? Congress passed the Money Laundering Control Act of 1986, which created liability for any individual who conducts a monetary transaction knowing that the funds have been derived through unlawful activity. This act reflected the growing role of international money wire transfers; previous legislation had failed in that it didn?t address this problem sufficiently. It also was in line with the federal government?s new approach to organized crime that was defined in Title 18 of the United States Code; RICO or "Racketeer-Influenced and Corrupt Organizations." RICO encourages investigators "to think in terms of gathering evidence and obtaining indictments against entire 'enterprises like each organized crime family," and it allows prosecutors to present at trial "a complete picture of what the defendant was doing and why -- instead of the artificially fragmented picture that traditional criminal law demands.""
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Money Laundering: What Is It and How Do We Fight It?, 2008.
A paper that discusses the criminal activity of money laundering.
811 words (approx. 3.2 pages), 5 sources, APA, AU$ 45.95
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Abstract
This paper explains the criminal activity of money laundering. Estimates vary as to how much money laundering is occurring in the world - as it is an illicit trade in money and published statistics from the criminals involved are not forthcoming. The author concludes that the goal of law enforcement agencies in the United States must be to attack the underlying systems and processes the make money laundering possible, if any headway against this financial crime is expected to be made.
From the Paper
"Money laundering is, most basically, any effort to disguise profits made through criminal activities to that they will appear to be nothing more than legitimate profits from investments (Cleaning up, 1997). Estimates vary as to how much money laundering is occurring in the world. After all, it is an illicit trade in money; published statistics from the criminal involved are not forthcoming. Nevertheless, law enforcement agencies estimate that several hundred billion dollars of new money enters the global economy each year, with a total criminal stock counted in the trillions. Put another way, money laundering accounts for anywhere between 2% and 5% of the total global GDP (Cleaning up, 1997; Kelly, 1998). This is a significant sum, to say the least."
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Money Laundering, 2008.
A discussion on money laundering and its implications on the financial stability of a country.
1,275 words (approx. 5.1 pages), 10 sources, APA, AU$ 70.95
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Abstract
The paper discusses the seriousness of money laundering. It confirms that global based financial markets make money laundering easy for financiers, and countries that enact account secrecy laws, are connected to countries with account reporting mandates, making it possible for a person to deposit "dirty" money anonymously in one country and have it transferred to another country. The paper, reports that money laundering is a commonly committed crime that wreaks havoc on the financial stability of a nation.
From the Paper
"The International Monetary Fund states that money laundering, which drug traffickers use to bring proceeds gained through distribution or sale of controlled substances back into legitimate markets, or to hide support of terrorist organizations, amounts to between 2% and 5% of the world's Gross Domestic Product, (over $600 billion annually). Money laundering hides the true basis of funds gained through selling and distributing drugs and converts them into solid assets with apparently legitimate sources. However, laundering large amounts of small-denomination bills is conspicuous enough that it makes traffickers visible and liable to laws against such practices. "Tracking and intercepting this illegal flow of drug money is an important tool used to identify and dismantle international drug trafficking organizations."
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Money Laundering, 2007.
An in-depth analysis of the war against money laundering.
3,310 words (approx. 13.2 pages), 11 sources, MLA, AU$ 151.95
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Abstract
The paper explains that money laundering is the process by which criminals attempt to conceal the proceeds from their illegal activities to make them appear legitimate. The paper provides a review of the relevant peer-reviewed and scholarly literature to identify what money laundering is, what controlling legislation exists and what types of investigatory processes are used to uncover it. The paper provides an analysis of how cases are built against money launderers and concludes that relevant laws are starting to have some effect.
Outline:
Review and Discussion
Conclusion
From the Paper
"The same forces that have been driving the globalization process have also made it easier for criminals to transfer enormous sums of money from one financial institution to another until it becomes "clean" in a process known as money laundering. Furthermore, an increasing number of observers are cautioning that terrorist organizations are using money laundering techniques to avoid international sanctions on their assets, and to help finance their nefarious plots against the United States and its interests abroad. Even if the proceeds of money laundering are not used by terrorists groups, the criminal elements involved are avoiding paying taxes on their ill-gotten gains in whatever jurisdictions are involved, and the practice appears to be on the increase in spite of numerous laws designed to combat the problem."
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Money Laundering, 2002.
This paper discusses the battle against money laundering.
1,150 words (approx. 4.6 pages), 2 sources, AU$ 71.95
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Abstract
This paper focuses on various methods embraced by government and banks in combating white-collar fraud. The author reviews various policies adopted by banks to catch any illegal activity relating to money transaction. The paper gives an in depth analysis of the type of people involved in money laundering activity and different categories of money laundering crimes.
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Money Laundering, 2008.
This paper examines money laundering and the scope of this illegal activity.
1,491 words (approx. 6.0 pages), 11 sources, MLA, AU$ 79.95
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Abstract
The paper defines money laundering and explores the various methods used by international criminal organizations. The paper looks at how successful law enforcement has been in dealing with this significant problem and concludes that Interpol is failing miserably at curtailing money laundering activities. The paper reveals that criminal organizations are making monstrous profits and, in the case of the Russian Mafia, have powerful allies at the highest reaches of government.
From the Paper
"Put briefly, money-laundering is the complicated process by which the origins of monies gained through illegal activities are cleverly concealed from law enforcement authorities or from tax auditors. Understandably, it is done to evade the unwanted attention of police and government officials and to evade prosecution for illegal acts. Because of the consequences that come with getting caught, those who engage in money laundering must rely upon a wide array of complex techniques to evade capture - only some of which can be highlighted below."
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Money Laundering: the Terrorism Link, 2002.
A study in the use of money-laundering to fund terrorist activities.
1,455 words (approx. 5.8 pages), 6 sources, MLA, AU$ 78.95
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Abstract
The paper examines the use of money-laundering to fund illegal activities and terrorism. It describes the basic criminal reasons for laundering money from the view of government, in legitimizing large amounts of illegally acquired money and methods used in doing so. The paper illustrates how large this criminal activity is globally and calls for a global solution.
From the Paper
"Recent events such as the World trade Tower attack, the war on terrorism and the collapse of several giants such as Enron have brought the subject of money laundering into the forefront of the media. Mass media is inundated with articles and news stories about money laundering, particularly in relation to the funding of terrorist groups such as Al-Qaeda. Several organizations have dedicated themselves to the study and dissemination of knowledge about money laundering. Both the US government and other governments have developed strong initiatives to detect and deter money-laundering activities across borders."
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Money Laundering, 2002.
A look at money laundering and white collar crimes.
3,900 words (approx. 15.6 pages), 10 sources, AU$ 229.95
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Abstract
This paper discusses Money Laundering and white collar crimes. Examples of present sentences and what congress and the law has done to combat white collar crimes is examined.
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Money Laundering and Terrorist Funding, 2006.
A review of the efforts of the HSBC Bank USA to prevent money laundering and terrorist funding.
7,162 words (approx. 28.6 pages), 15 sources, APA, AU$ 256.95
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Abstract
This paper discusses how, in an effort to combat the risk of criminal and terrorist activity, the federal government of the United States has charged banking institutions with protecting, monitoring, and reporting financial activity that may aid terrorists and criminals. According to the paper, the HSBC Bank USA takes this charge very seriously due to its own risk and a sense of social responsibility. This paper reviews how HSBC Bank USA strives for compliance within the legal framework set forth by the United States Patriot Act and Bank Security Act.
Table of Contents:
Executive Summary
Mission and Value Statement
Problem Statement
Chapter 1. The Risk of Money Laundering and Terrorist Funding in the Banking Industry
Chapter 2. Legal Requirements and HSBC Compliance
Chapter 3. Technology Issues
Chapter 4. HSBC Operations and Internal Management
Chapter 5. Impending Developments and Future Challenges
Hypothesis
Conclusion
From the Paper
"With payment filtering in place, false positives are an unfortunate inevitability. Coping with false positives--the blocking of transactions that are in fact legal customer activity--is a frustrating corporate matter for banks. Despite every care to prevent inconvenience to banking patrons, HSBC payment filters are likely to block payments where beneficiary names are similar to those on watch lists. This creates issues for management within HSBC, as additional personnel must be available to identify false positives and, where necessary, manually reverse payment rejections. Allocating addition funding for support staff and technology advances can aid in reducing false positives. Seeking out the best technology available and supporting industry-wide pushes for more research may also contribute to better advances and progress. "
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Money Laundering and Terrorism, 2006.
A discussion on the changes in money laundering policies from 1990 to 2003, with an emphasis upon the impact of terrorism.
3,375 words (approx. 13.5 pages), 10 sources, AU$ 214.95
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Abstract
This paper discusses how money laundering policies have altered in recent years. According to this paper, it is the direct result of America's realization that it is no longer invulnerable to terrorist attack. This unsettling state of affairs has forced a re-assessment of how the United States can combat terrorism. One of the primary means, is to cut off the funding that permits terrorism to survive.
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Money Money Money, 2002.
A look at money's affect on the modern family.
1,650 words (approx. 6.6 pages), 13 sources, AU$ 99.95
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Abstract
This paper examines money and the family in terms of family studies. How earning and expenditure is distributed in the family, particularly with reference to gender is the key issue.
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Terrorism and Transnational Crime, 2005.
This paper is a literature review of terrorism pre and post 9/11, the relationship of money laundering to terrorism using the Colombian narco-traffickers as a model and the relationship of transnational crime and terrorism.
4,120 words (approx. 16.5 pages), 52 sources, MLA, AU$ 177.95
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Abstract
This paper explains that the literature states the necessity of extending the scope of terrorism to include related trends of drug-trafficking, organized crime and unlawful migration to America because these trends serve as breeding grounds to terroristS who have been looking for newer ways to broaden the terrorist funding base. The author points out that the literature indicates that the methodology adopted by the drug mafia in Columbia, to distribute their narcotics at the global level and subsequently to use that money to fund organizations creating civil unrest, has been adopted by the terrorists in the Middle East. The paper relates that literature discusses the actions taken by global institutions at the forefront of global anti-money laundering administration and reviews some fundamentals of the critical anti-money laundering law, such as the constant attrition of confidentiality and the obligation of augmented necessities of carefulness.
Table of Contents
Terrorism
Analysis of Literature on Terrorism Pre-Post 9/11
Money Laundering
Relationship between the Colombian Narco-Traffickers and Colombian Insurgency
Trans-national Organized Crime and Terrorism
From the Paper
"Michael Reisman (1999) gives a fair review of the past and the present actions and procedures of calculated and politically provoked violent non-government groups. Many critics have questioned the unwillingness of the American courts to prosecute terrorist activities that have taken place outside American grounds. Michael reviews the reasons behind the reluctance of the American courts to take legal action in these scenarios. He also reviews the dilemma of the incompetent countries whose soil has been exploited as a foundation for terrorist training and terrorist activities against other countries, particularly the United States. Similarly, Peter Chalk (1998) reviews a number of terrorist events which could have resulted in greater understanding and classification of terrorism and the fundamentals that serve as driving forces for terrorist acts. He concludes his study by creating a model for responding to terrorist actions within the customs of political and social legality."
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The U.S. Patriot Act, 2003.
A comprehensive review and analysis of the U.S.A. Patriot Act, offshore banking, and money laundering today.
6,777 words (approx. 27.1 pages), 29 sources, APA, AU$ 248.95
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Abstract
To identify what effect the U.S.A. Patriot Act has had on the war against terrorism, in general, and on the flow of funds to such groups, in particular, this paper provides a review and analysis of the relevant literature, followed by a summary of the research in the conclusion.
Review and Discussion
Current Law
The USA PATRIOT Act: ?It Could Have Been Worse.?
Offshore Banking and Money Laundering.
Legal Analysis
From the Paper
"As a result of the Act, law enforcement officials who are investigating suspected terrorist activities now have sweeping authority to obtain customer records from Internet service providers and to demand transaction records from other businesses. According to Jane Kirtley, Newhouse News Service reported in April that ISPs and other telecommunications businesses such as cell phone operators have received hundreds of thousands of subpoenas for customer data, including subscriber lists, session times and the methods and sources of payment. The Associated Press Online reported on June 27, 2003 that demands for information by government officials have soared as much as five times over pre-September 11 levels. The Act is designed to "deter and punish terrorist acts in the United States and around the world" and to "enhance law enforcement investigatory tools ....""
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E-Money, 2002.
This paper discusses the issues around the development of E-money (also called electronic money, digital money or digital cash), the economic base and monetary policy.
2,825 words (approx. 11.3 pages), 21 sources, APA, AU$ 135.95
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Abstract
This paper defines E-money as spendable balances represented by digits on a bank's balance sheet. The paper discusses that E-money can not become standard currency until the public understands the concept and feels comfortable in using the technology and until the emergence of cryptography, the ability to make the transactions secure and unbreakable. The author believes that financial markets will have to develop new internal regulations, banks will have to adjust their style of business and the federal government will have to rethink the status of its monetary policy to keep control of the monetary base.
Table of Content
Abstract
Why Did Money Develop?
New Advances in Payment Systems
Why the Advances to get rid of Fiat Currency?
What is E- Money?
E-money and Government Regulation
E-money and Government Taxation
Conclusion
From the Paper
"In the last thirty to forty years, major advances in payment systems and abilities have revolutionized the way most Americans and Europeans pay for goods and services. In the early 1950's, a new type of card emerged that enabled people to pay for goods and services without actually transferring any type of fiat currency or commodity, the Diners Club payment card. It was the first card that enabled individuals to pay for their lunch or dinner just by signing a piece of paper."
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