Method of Money Laundering Essay Example for Free

Method of Money Laundering Essay Structuring deposits The Bank Secrecy Act of 1970 requires banks to report any deposits exceeding $10,000.01. This is not a problem for most of us, but it is a big barrier to money-laundering criminals looking to rid themselves of some cumbersome currency. Launderers will hire low-level lackeys to make multiple small deposits, either on different days or at various branches on the same day to work around this pesky law that attempts to deter money laundering, It is a complex, time-consuming way to launder money, and one that has been rendered even more difficult by computer algorithms that look for suspicious deposit behavior and raise an red flag when one is found. see more:speech on money for asl Banks Far more exciting and global in the practice of money laundering is the use of offshore and overseas banks. Nations like the Cayman Islands, Bahamas and Panama are very accommodating to criminals looking to legitimize their cash; these nations are unrestricted with regards to burdensome banking laws and anti-laundering procedures, which ultimately helps hide the launderers behind strict veils of secrecy. Opening accounts in a number of these offshore accounts allows launderers to move their money around and create a nearly impenetrable defense against curious investigators. Some countries (China and Pakistan among others) have a history of well-established underground banks that have been accepting deposits from sketchy clients for centuries. They legally operate outside of the mainstream banking system and outside the control of the government. There is often no paper work, just the reputation of the principals involved. Shell companies Enterprising criminals looking to legalize their cash can set up various companies that exist for the sole purpose of money laundering. These so-called shell companies often offer some sort of service that can easily be fudged and usually accepts cash as payment when doing legitimate business (beauty salons and trades like plumbing are commonly used). The dirty money is funneled into the company, made to look like legitimate income with fake invoices and receipts and then deposited into the shell company’s accounts as clean, wonderfully spendable cash money. Using these shell companies to stay one step ahead of â€Å"the man† is a shell game of its own. Forensic accountants can strip away layers of deceit and reveal the shady transactions below, which means that only true criminal masterminds with really good accountants should consider this as a laundering option. Legitimate businesses Criminals looking to clean their money can also be good corporate citizens by investing in legitimate business. Cash-rich businesses like bars and strip clubs are the most common, with the dirty money seeded in with the legitimate revenue and squirreled away in the business’ bank accounts. The safer method is to use the dirty money to â€Å"buy† the services offered by the legit businesses, but this necessitates lots of fake invoicing and troublesome number fudging and you can safely assume that most criminals choose the easy money of crime out of laziness, which makes this a decidedly unattractive alternative when looking for money-laundering options. Gambling With so many cash transactions taking place every day, casinos have become highly valuable money-laundering institutions because chips can be purchased anonymously with dirty money and after a period of time they can be cashed back in and turned into clean money. Even if the casino follows the letter of the law and asks for ID to record the transaction, the Feds are powerless to prove the money was ever dirty. Global criminal enterprises can even ask that the â€Å"winnings† be used as credit at the casino’s overseas franchises. With some games offering as much as 93% return on your money, certain criminals are willing to chance some losses and turn their illicit cash into legitimate money by actually gambling with it. One particularly popular method involves two associates at the roulette table. While one bets a substantial amount on red, the other places a similar amount on black. Provided neither zero nor double zero come up, one side doubles the money and turns it legit at the same time. However, sophisticated surveillance and casino security have limited this scheme in recent years. Down at the track, some crafty launderers will put the word out that they are willing to buy winning tickets at a premium. They then cash in the tickets as clean money and pass the bonus of cleaning the money onto the unsuspecting legitimate gambler, who is usually so stunned at their good fortune that they cannot appreciate their predicament. No money, No problems It is an enviable position that many would like to be in having so much cash that you do not know what to do with it. However, cleaning money is harder work than earning it. Criminals have to stay one step ahead of the law and they constantly run the risk of losing their cash to shady launderers or eagle-eyed cops. Often, it is not the drug dealing or the extortion that gets these law breakers busted, it is their attempts at concealing the money. So, if you ever decide to get in â€Å"The Game,† watch what you do with your money.

the prince :: essays research papers

- Navigate Here - Context --- Chapters 1-2 Chapter 3 Chapters 4-7 Chapters 8-10 Chapters 11-15 Chapters 16-19 Chapters 20-23 Chapters 24-26 --- Study Questions Further Reading 2 Dedication, Chapters 1-2 Summary The Prince is a gift from Machiavelli to the Magnificent Lorenzo, son of Piero de' Medici, offered as "proof of [the author's] devotion." Machiavelli writes that it is the most precious thing he has to offer. The book consists of "the knowledge of the actions of great men, acquired by long experience of modern affairs, and a continued study of ancient history," which Machiavelli indicates he has studied for a long period of time. Although the book is "unworthy" of the Magnificent Lorenzo, the author hopes he will accept it. After all, the book offers its reader, in a concise form, learning which has taken its author many years of study and much personal danger. Machiavelli emphasizes that the book is short and direct, and written without without resort to "pompous phrases" or "embellishment." Its strengths are that it goes to "the truth of the matter" and addresses an important subject. He does not wish to seem presumptuous by daring to discuss the affairs of a prince, but, he suggests, just as only a prince, from his vantage point above the people, can understand them, only one of the people can truly understand the prince. He hopes that his Magnificence will see in the work his hope for the prince's future greatness, which has been promised by "fortune" and his "great qualities." And if his Magnificence will lower his gaze, he will discover how undeservedly Machiavelli has had to suffer misfortune. Chapter 1: "How Many Kinds of Principalities There Are and the Way They Are Acquired" There are two kinds of states or governments: republics and principalities. There are also two kinds of principalities: "hereditary" and "new." Further, "new" principalities are either "entirely new" or a territory annexed to "the hereditary state of the prince who acquires them." Annexed principalities can be put under the rule of a prince, or set up as "free states." New principalities can be won by using another state's military, by the conqueror's own military, by luck, or by personal courage and ability. Chapter 2: "On Hereditary Principalities" Machiavelli indicates that this book will not be about republics, which he has discussed in a previous work. Hereditary states are easier to hold onto than new states, since, barring the appearance of an extraordinary force, if the prince is not stupid, he will hold onto power by doing what his predecessor did. the prince :: essays research papers - Navigate Here - Context --- Chapters 1-2 Chapter 3 Chapters 4-7 Chapters 8-10 Chapters 11-15 Chapters 16-19 Chapters 20-23 Chapters 24-26 --- Study Questions Further Reading 2 Dedication, Chapters 1-2 Summary The Prince is a gift from Machiavelli to the Magnificent Lorenzo, son of Piero de' Medici, offered as "proof of [the author's] devotion." Machiavelli writes that it is the most precious thing he has to offer. The book consists of "the knowledge of the actions of great men, acquired by long experience of modern affairs, and a continued study of ancient history," which Machiavelli indicates he has studied for a long period of time. Although the book is "unworthy" of the Magnificent Lorenzo, the author hopes he will accept it. After all, the book offers its reader, in a concise form, learning which has taken its author many years of study and much personal danger. Machiavelli emphasizes that the book is short and direct, and written without without resort to "pompous phrases" or "embellishment." Its strengths are that it goes to "the truth of the matter" and addresses an important subject. He does not wish to seem presumptuous by daring to discuss the affairs of a prince, but, he suggests, just as only a prince, from his vantage point above the people, can understand them, only one of the people can truly understand the prince. He hopes that his Magnificence will see in the work his hope for the prince's future greatness, which has been promised by "fortune" and his "great qualities." And if his Magnificence will lower his gaze, he will discover how undeservedly Machiavelli has had to suffer misfortune. Chapter 1: "How Many Kinds of Principalities There Are and the Way They Are Acquired" There are two kinds of states or governments: republics and principalities. There are also two kinds of principalities: "hereditary" and "new." Further, "new" principalities are either "entirely new" or a territory annexed to "the hereditary state of the prince who acquires them." Annexed principalities can be put under the rule of a prince, or set up as "free states." New principalities can be won by using another state's military, by the conqueror's own military, by luck, or by personal courage and ability. Chapter 2: "On Hereditary Principalities" Machiavelli indicates that this book will not be about republics, which he has discussed in a previous work. Hereditary states are easier to hold onto than new states, since, barring the appearance of an extraordinary force, if the prince is not stupid, he will hold onto power by doing what his predecessor did.

Learning experience paper acrophobia Essay

Have you ever been on top of a large building and were too afraid to look over the side? Have you ever climbed a really tall tree and were too afraid to climb down? I have, when I was younger I climbed a really tall tree and when I got to the top I looked down, I was too afraid to climb back down. What I was experiencing was a fear of heights know as acrophobia. Acrophobia (n.d.) according to Merriam-Webster Dictionary, is an abnormal dread of being in a high place: fear of heights. I believe that most people become a little scared when it comes to heights. There is nothing wrong with having acrophobia to an extent. It is a defense mechanism our bodies use to stop us from walking off cliffs. The problem is when a natural instinct becomes paranoia. For example, someone who has acrophobia would be scared, nervous, and or panic inside a safe environment like a skyscraper. Symptoms There are many symptoms of the fear of heights (acrophobia) that may occur when up on a tall building or high place. Many people with acrophobia can become dizzy, excessive sweating, nausea, sick to their stomachs, shaking, dry mouth, and unable to speak. One of the main symptoms of acrophobia is fear of dying. Some of these symptoms can then turn into a full blown anxiety attack. â€Å"Discomfort anxiety tends to be specific to certain uncomfortable or dangerous situations- and consequently shows up in such phobias as fear of heights† (Ellis, 2003, p.83). It is only believed that between 2 and 5 percent of the world’s population actually suffers from acrophobia, and that twice as many woman are affected by acrophobia then men. A common misconception with the fear of heights is people calling it vertigo. Vertigo happens to people when they are on a tall building and look down from the top. Vertigo is a sensation that causes a person to feel like  they are spinning eve n though they are not. So even though vertigo occurs to a lot of people when they high in the air, it does not mean they are afraid of heights. Some Causes What causes people to become afraid of heights? Some psychologist believe that the fear of heights enters your life from something that happened in your past. Psychologist believe that it is caused by some emotional trauma that has to do with heights. For example a person who is suffering from acrophobia may have fallen out of a tall tree when they were little. It is also believed that this condition can be triggered by trauma seen in a movie, television, or a real life event involving another person that has to do with heights. Research and Studies There has been some research done on the fear of heights. Psychologists by the name of Gibson and Walk did an experiment in 1960 called â€Å"Visual Cliff†. The â€Å"Visual Cliff† experiment was an experiment to see if babies who were still crawling would cross a thick piece of glass that covered a steep drop off. They then put the mother on the other side of the drop off to call the baby over to the other side. Even with the mother calling the crawling babies to come to them, the babies still did not cross over the glass. This experiment shows that most humans if not all humans have acrophobia at least partially ingrained in our genetics. I believe this is part of our survival instincts. The Cure Many people who are suffering from acrophobia are often prescribed medications to help them out with their fear of heights. Medications will not actually cure someone of their fears it only masks them. In some cases the side effects of the drugs may be worse than a fear of heights. One of the best treatments for acrophobia is cognitive behavior therapy. Cognitive behavior therapy involves exposing a person to heights and helping them develop coping skills that will help them increase their confidence and change their thought process towards heights. How I would go about my fear of heights is by actually facing my fears. I would take baby steps when facing this fear. I would find a tall building, I would go to the top of it,  and I would then would walk as close to the edge as I could before the fear overcomes me. I would then mark that spot on the ground, I would then come back the next day and take 1 step closer. I would keep that up each day until I get to the edge, and each day I would tell myself to trust my body and building there is nothing to be afraid of. I believe this would be the best approach for me to overcome my fear of heights. Conclusion Suffering from acrophobia can be something that is hard for a person to deal with. I do believe that we all have a fear of heights, it may be very minute but I do believe we all have it. I think the only way to cure a phobia or fear is to face them. I personally know facing fears is very hard to do but once I overcome the fear it was an incredible feeling. References Ellis, A. (2003). Discomfort anxiety: A new cognitive-behavioral construct (part I). Journal of Rational – Emotive & Cognitive – Behavior Therapy, 21(3-4), 183. Retrieved from http://search.proquest.com/docview/220282433?accountid=458 Acrophobia. In Merriam-Webster Dictionary online. Retrieved from http://www.merriam-webster.com/dictionary/acrophobia

Analysis Of The Movie Wit - 1105 Words

The movie Wit is a heartfelt drama that I would consider a must see for those aspiring to enter any field of medicine. The movie is centered around the main character, Vivian Bearing, a strict English professor who specializes in the 17th century British poetry of John Donne. The film begins with Vivian Bearing discussing with her physician, Dr. Kelekian, the course of treatment for her recent diagnosis of advanced ovarian cancer. Vivian agrees to participate in a very aggressive experimental treatment of chemotherapy administered by Dr. Kelekian and one of her former students, John Posner, who is an assistant to Dr. Kelekian. The film depicts Vivian’s thoughts and emotions while going through the stages of this aggressive experimental†¦show more content†¦In a sense, a felt that Donne was saying that death dies to us because we no longer have to experience it. This was my interpretation of the poem, and I feel that this poem speaks to me because as a Christian, I und erstand that death is not the end, but merely a phase of transition in to the afterlife. Those of us who have faith in our God and the lord Jesus Christ, know that our souls rest eternally in heaven with God when we die. I think the fear of death arises because of the mysterious and unknown aspect of death, but for those who belief in the word of God, death no longer holds power over them. I also feel that the fear of death governs many of our actions and behaviors throughout our lifespan. For example, in the first half of our lives we adapt an individualistic approach to life, feeling that we have to do whatever we can in life to survive for ourselves. In this half of life, death governs our actions and behaviors by dividing us through the sense that we must compete with each other for better survival in this system or we could possibly experience the hardships of struggling to survive or even death. In our latter years of life, or the second half of our lives, we fear the nearing of death, so this causes us to reflect on our lives and we wish to obtain more valuable and intimate relationships. In the movie, Vivian reflects back on her life and compares the care sheShow MoreRelatedAnalysis Of The Movie Wit791 Words   |  4 PagesThe movie â€Å"Wit† is a great educational tool for healthcare professionals in terms of dealing with terminally ill patients. It teaches that nurses and medical professionals should always remember that their patients are not a case nor illness nor experiment but rather human beings with souls and pains. Palliative care is one of the most disputed issues of worldwide importance. 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