StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Anti Money Laundering In Relationship To The Banking And Busiiness Sector In Todays Economy - Dissertation Example

Cite this document
Summary
Money laundering can be defined as the process where the monetary proceeds of a criminal activity are integrated into the stream of financial business in a legitimate way so that its origin is never known to anybody. In this process of money laundering illegitimate funds are made to appear as legitimate funds…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.4% of users find it useful
Anti Money Laundering In Relationship To The Banking And Busiiness Sector In Todays Economy
Read Text Preview

Extract of sample "Anti Money Laundering In Relationship To The Banking And Busiiness Sector In Todays Economy"

Download file to see previous pages

Money laundering activities are considered to be of prime importance by almost all the nations in the world. In today’s economy all the banks and the financial institutions are subject to the risk of money laundering activities being carried on through the prevailing transaction systems within the organisations. Money laundering is the result of different criminal activities being operated all around the world. This study entails all about money laundering activities carried on globally with special reference to banking institutions and other related business organisations.

First of all a brief overview about money laundering has been provided in this study. Next the various effects of money laundering in today’s economy have been discussed in details. The various preventive measures to combat money laundering have also been included in this study. Plenty of initiatives have been taken by different nations all around the world to put a hold on the existing money laundering operations. It has all been discussed in details in this study. Finally how the nations in the world have come forward to combat the threat of money laundering activities have also been discussed in this study.. Introduction Money laundering activities are considered to be of prime importance by almost all the nations in the world.

In today’s economy all the banks and the financial institutions are subject to the risk of money laundering activities being carried on through the prevailing transaction systems within the organisations. Money laundering is the result of different criminal activities being operated all around the world. This study entails all about money laundering activities carried on globally with special reference to banking institutions and other related business organisations. First of all a brief overview about money laundering has been provided in this study.

Next the various effects of money laundering in today’s economy have been discussed in details. The various preventive measures to combat money laundering have also been included in this study. Plenty of initiatives have been taken by different nations all around the world to put a hold on the existing money laundering operations. It has all been discussed in details in this study. Finally how the nations in the world have come forward to combat the threat of money laundering activities have also been discussed in this study. 2. Money Laundering – An Overview Money laundering can be defined as the process where the monetary proceeds of a criminal activity are integrated into the stream of financial business in a legitimate way so that its origin is never known to anybody.

In this process of money laundering illegitimate funds are made to appear as legitimate funds (Odeh, 2010, p.1). The process of money laundering could be explained in any of the following three ways: a. Creating clean money out of dirty money. b. Washing away drug money. c.

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Anti Money Laundering In Relationship To The Banking And Busiiness Dissertation”, n.d.)
Retrieved from https://studentshare.org/business/1398776-anti-money-laundering-in-relationship-to-the-banking-and-busiiness-sector-in-todays-economy
(Anti Money Laundering In Relationship To The Banking And Busiiness Dissertation)
https://studentshare.org/business/1398776-anti-money-laundering-in-relationship-to-the-banking-and-busiiness-sector-in-todays-economy.
“Anti Money Laundering In Relationship To The Banking And Busiiness Dissertation”, n.d. https://studentshare.org/business/1398776-anti-money-laundering-in-relationship-to-the-banking-and-busiiness-sector-in-todays-economy.
  • Cited: 0 times

CHECK THESE SAMPLES OF Anti Money Laundering In Relationship To The Banking And Busiiness Sector In Todays Economy

Money generated from illegal activities

It is money generated from illegal activities that processed into the banking sector as legally acquired funds.... Money Laundering and its relationship to Terrorism Money laundering is often used to describe the general sense of presenting illegally acquired funds as though they...   money laundering can be seen as a deliberate effort that is made to close the trail of criminals.... money laundering is seen as a convenient outlet through which the trail of criminals can be cleaned in order to blot out all tracks that would lead to them....
171 Pages (42750 words) Dissertation

Non-Sovereign Small Islands in the International Economy

The most successful OFCs are characterized also by stable economic and political climate, support from of a large international financial market, money laundering or drug money scandals free, availability of agreements for avoiding double-taxation with major countries, and are easily reached due to established information-exchange facilities (Palan 156).... Non-Sovereign Small Islands in the International economy Introduction Since the late 1960s, pursuing a goal of developing and diversifying its economies, many small islands have grasped the opportunity to develop offshore financial services in their states....
20 Pages (5000 words) Essay

Money Market Violations and the Money-Laundering Events

The money laundering issue, as well as illegal fund transfer methods, is detailed in the paper.... hellip; The act of hiding the money source that was earned via illegal means is often mentioned as money laundering.... ATF which stands for Financial Action Task Force on money laundering is an intergovernmental body which has been formed to fight money laundering (Witherell, 2002).... This has resulted in lots of international organizations and government to take efforts to counter money laundering, to deter money launderers....
20 Pages (5000 words) Assignment

Global Public Policy and the Case of Money Laundering

nbsp; … Whatsoever one believes of the venture of upsetting financial activity associated to crime, there is a questionable relationship between the hostile prosecutorial attempts to penalize money laundering and the larger agenda of employing criminal punishments, regulation and monitoring techniques to interrupt criminal finance.... Deputy Secretary of the Treasury, “At the very moment that the world economy is expanding and integrating, creating vast new opportunities for business, so the technology and capacity at the disposal of criminals are greater than ever before” (Reinicke 1998, 135)....
10 Pages (2500 words) Term Paper

Money Laundering and Terrorism in the Middle East

hellip; Reportedly, this paper will examine money laundering in the Middle East and its ties with terrorism.... The author of the current research paper "money laundering and Terrorism in the Middle East" mentions that today, money laundering has become a commonplace term that generally connotes a criminal act.... Specifically, this will be undertaken in the context of money laundering as previously defined - the act of converting money that is sourced from illegal activities so that it could be spent or consumed....
17 Pages (4250 words) Research Paper

Sicilia Mafia Group: Impact on Political, Economic, and Social Development

Later, the establishments of banks and many sectors of the economy followed (Natarajan 259).... Each sector has its role to play in this organized group of criminals.... This report "Sicilia Mafia Group: Impact on Political, Economic, and Social Development" discusses Sicilian Mafia activities that present a great danger to the social fabric of all the nations....
9 Pages (2250 words) Report

Counterterrorism Tracking Terrorist Assets

The freezing of terrorist's assets involves blocking all property and interests belonging to persons committing or posing a significant threat to citizens, national security, foreign policy, or economy.... This is informed by the fact that money can be considered as the lifeblood of terrorist organizations.... nbsp; This requires effective implementation of measures directed at tracking and disrupting terrorist money flows.... This is informed by the fact that money, besides radicalization narratives, can be considered as the lifeblood of terrorist organizations....
9 Pages (2250 words) Coursework

Money Market Violations

nbsp;… According to the paper, money laundering is one such illegal activity that has been rampantly practiced over time and which has had certain devastating effects on the money markets and the general economy.... The reason why money laundering is considered as illegal is that the relevant financial authorities as required by law do not regulate it.... nbsp; money laundering refers to the process of concealing the sources or ways by which money is acquired....
27 Pages (6750 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us