FRAMEWORK OF ANTI-MONEY LAUNDERING AND COMBATING OF FINANCIAL TERRORISM IN THE ECOWAS REGION By Oladeji Ifeoluwa Temilolu 1.0 Introduction Money laundering as a form of cross border crime involves the use of legal tender in a financial transaction in order to conceal the origin‚ source or destination of such legal tender derived through illegal means. The sole aim of every money launderer is to misrepresent to any law enforcement authority or agency that the source of the funds are clean.
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Causes for Generation of Black Money There are several factors responsible for the emergence – of black money. It would be relevant to discuss those factors so that a correct understanding about the genesis‚ growth and expansion of black money can be made. The principal factors are: (i) Beginning of the evil: The beginning of this evil can be traced to the Second World War. During this period supplies of industrial goods from the traditional suppliers of the West were cut off. This resulted in
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Cause and Effects of the Devastation of Nature The devastation of nature is a global concern nowadays. It is because the changes that’s been done to nature which is caused mostly by human activities. When we pollute the air‚ land and water‚ this harms the nature. Bulldozing wetlands and cutting down forest also destroys the nature. These are only few of the activities that contribute to the devastation of nature. Overgrazing and groundwater pumping are some of the activities that damage
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Cause and effect essay Money/happiness Money won’t buy happiness Since the concept of buying‚ instead of trading was needed‚ a monetary unit such as money was invented‚ so the idea came that it could buy anything even happiness; but is it really possible? Many individuals especially the one’s pursuing money believe they will achieve happiness whenever money comes into their lives. Others‚ mostly those who have already had the opportunity of having a lot of money‚ know that money cannot
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are concerned about nowadays is making more money. We know that unemployment is increasing day by day‚ and for that reason‚ many people try to work laboriously. Moreover‚ they can even neglect their social lives. However‚ it is my belief that‚ this is an unavoidable circumstance because money has considerable importance in the economy‚ society and our day to day lives. To begin with‚ if a person has more money‚ he or she has power! In other words‚ money will provide you with a strong social status
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MONEY LAUNDERING : GLOBAL PROBLEM CASE PRESENTATION AS PART OF LEGAL ASPECTS OF BUSINESS ‚ MBA Money laundering is the process of concealing illicit sources of money or in simple language it is the process of washing dirty money (money earned through illegal activities) to make it appear to be legitimate. Now question arises that who launders the money? No doubt‚ it is always launder by criminals. And who helps the criminals to launders the money is also a money launder. Money laundering is the
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1. The nature and causes of the global economic crisis What is global economic crisis? – The nature thereof. Global economic crisis refers to an economic situation in which most of the countries of the world go through a period of economic breakdown called contraction or recession or slump‚ which manifest itself in the decline in aggregate output‚ usually for two consecutive quarters. During this contraction period‚ the structure of the economies change‚ resulting in economic hardships such as
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die. To make it work‚ they should be aware of the environmental damage and take action to prevent further consequences in nature. Some of those serious problems‚ for example‚ natural disasters through deforestation‚ all the species of plants and animals disappear‚ and humans will eventually vanish. The human exploitation of natural resources also brings about the damages in nature‚ such as global warming and greenhouse effect. Then‚ they lead to animal extinction‚ plant loss‚ and the disappearance of
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ATM transactions are ideal for money laundering because launderers can use an account in the U.S. to deposit funds within the U.S. and have another person withdraw (i.e. domestic terrorist) them outside the country. Risk with ATMs involves verifying the identity of an individual for customer that may be out of the financial institutions targeted area. Transactions are usually instantaneous and the destination of cash is difficult to trace‚ especially for individuals smuggling funds to offshore
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BRETT LUCAS TRINITY COLLEGE L6 SCIENCE GEOGRAPHY CLIMATE CHANGE: NATURE OR NEGLIGENCE The climate of our world is changing‚ but why? There is a great debate going on in the scientific community on whether our current climate change crisis is a natural occurrence over millions of years – as what has happened on the planet of Mars – or this natural process is being accelerated by man’s negligence. But first we must establish what is climate change? Climate Change is a long-term shift in the
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