Money Laundering Term Paper Example | Topics and Well Written Essays - 1750 words

Money Laundering - Term Paper Example disposition, movement, rights with respect to, or ownership of property, knowing that such property is derived from serious crime. In simpler words, Hopton (1) defines money laundering as that process in which the criminals conceal the origins of their possessions and the ownership of their proceedings of criminal activities. Their whole objective behind doing so is to maintain control over their illegal possessions (income, wealth or property) by covering them unlawfully. Hence, we can understand money laundering as a process by which dirty money is shown as clean money. The money needs not to be intangible form. Instead, modern day money laundering includes all such transactions of relationships that involve any kind of tangible or intangible wealth or possession that has been gained through criminal activities. Literature Review Alldridge (437-463) studied the imperatives that the money laundering panic of 1990s generated with the arrival of globalization. He states in his researc h that, â€Å"If there is to be an attempt legally to regulate laundering, it (laundering) must be a relatively serious offence, and consequently the anticipated harm must be something other than complicity†, which means that money laundering should be considered as a serious threat at an international level thus uniting all nations to make combined efforts to stop it. This will help homogenize the criminal justice system worldwide. Shneider and Windischbauer (387-404) have quantified and estimated the volume of money laundering activities in their research. According to them, â€Å"The overall turnover in organized crime for example had a value of 800 billion USD in 2001 and increased to 1.700 billion USD in 2007.† These statistics show how great the turnover of money laundering in the modern world is. Article no. 22 of Pursuant to the Law on prevention of money laundering (Ministry of Finance) states how the law for the prevention of money laundering is to be impleme nted. According to it, the Law on Prevention of Money Laundering is to be implemented to make sure that money laundering does not take place at all. Article 2 of the Federal Act on Combating Money Laundering and Terrorist Financing in the Financial Sector, also called as Anti-Money Laundering Act (AMLA), defines the financial intermediaries that are at vulnerable end in money laundering business (Federal Authorities of the Swiss Confederation). These include banks, fund managers, investment companies, insurance institutions, security dealers, casinos, and persons who carry out credit transactions and provide their services for payment transactions. Stages of Money Laundering There are three stages of money laundering. Placement The first stage of the washing cycle of money laundering is placement. Being a cash-intensive business, large cash is generated from illegal activities which is then placed in the economic structure or is smuggled out of the country, so that the location of a cquisition of that cash can be covered (Levy 2-5). In this way, the authorities cannot figure out the location. The cash acquired is also converted into other forms like postal orders. Layering The first step in the layering phase is the concealment of the source of ownership of funds by way of creating such complicated layers of transactions that aim at impersonating the audit trail by providing

Types, Purpose and Historical Background of Bridges Research Paper

Types, Purpose and Historical Background of Bridges - Research Paper Example It is evidently clear from the discussion that the building of the bridges could be traced back to the thirteenth century when the wooden logs and stones were used to cross the stream or river. In fact, the basic idea of the bridge has been bestowed by nature in form of simple logs fallen across a stream or river. The human mind gradually refined the idea and employed its creativity and architectural skills and capabilities to give this idea an enhanced and modified form. The human beings started building the bridges using the cut pieced of wooden logs and pranks. After which they started using the wooden stones to support the crossbeam arrangements. The use of trees and bamboo poles was also started by the Americans for crossing the small caverns and well that allowed them getting one place to another. The proper bridges were started building in the 13th century BC by the Greeks however, the ancient Romans gained proficiency in the building of the bridges by constructing various arc hes and aqueducts. During the Greek Bronze Age, an arch bridge was constructed between Tiryns to Epidauros in Peloponnese named Arkadiko Bridge. This old arch bridge still existed whereas several other intact arched stone bridges built during that era could be found in different locations in Southern Greece.  The Romans built numerous bridges that were constructed using the techniques to overcome the problems faced with the early bridges.