Monday, November 25, 2019

History of Abolishing Slavery

History of Abolishing Slavery Slavery is among the oldest institutions that spread rapidly throughout the world. It existed in the Western Hemisphere, Europe, Middle East, and vast parts of Asia for a long time. It took its roots before the emergence of any religion in the world. The principles that governed it were so peculiar. In most occasions, slaves worked tirelessly in order to meet their needs and the needs of the lords at very low pay.Advertising We will write a custom research paper sample on History of Abolishing Slavery specifically for you for only $16.05 $11/page Learn More The main victims of slave trade were the black people. The blacks were not only massively enslaved, but also sold into bondage across the continents. A lot of religious people also played a significant role in advancing slavery; Christians and Muslims also took part in enslaving others. This paper aims at providing detailed information on how slavery was abolished. This paper will expound on the diverse m ethods employed in eradicating slavery in many parts of the world. Abolishment of slavery is one of the greatest achievements that took place in the world. It took approximately two centuries for it to be eradicated since it involved overcoming opposition and cunning inversions from diverse parties. The signs of abolishment of slavery started being visible in the early 18th century when evangelical Christians made up of mostly Britons held an anti-slavery political crusade (Sowell, 210). The crusade managed to mobilize most Britons into exerting pressure on the British government. â€Å"British governments found themselves forced to push the anti-slavery effort further and further towards its logical conclusion†, (Sowell, 210). To meet the demands of their citizens, the British government was forced, not only to do away with the international slave trade, but also to abolish the practice of slavery throughout the British Empire. Additionally, the British governments were forc ed to take part in bribing and coercing other nations into stopping slavery. The abolishment of slavery in Britain empires and the involvement of the British in preaching against slavery contributed immensely towards the end of slavery in the United States and France. It also led to the French government to take part in intercepting ships involved in slave trade via the effort of its navies.Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More The effort employed by the British government also led to the spread of Western civilization to many nations including despotic governments such as Russia. The Quakers also played a significant role towards ending slavery in the world. They were the ones who laid an example that was followed by the worldwide political revolution. Worldwide political revolution, headed by William Wilberforce, was made up of the evangelical leaders from Church of Engl and, involved itself greatly in preaching against slavery. Its effort led to Henry Thornton, a renowned banker, to start up an anti-slavery crusade. Additionally, the effort put by Wilberforce, Thornton and their allies played a significant role towards ending slavery. They spent over 20 years pressing for the abolishment of slavery via drafting slavery abolishing bills. Protests also played a significant role towards ending slavery. For instance, the memorandum penned by black Americans in early 1688 led to the reduction of the number of Negro slaves in the United States (Doren, 276). According to the Negros, only fervent protests could stop Europeans from inhumanly handling the blacks. The perception of the Negros about slavery also played a significant role towards Newton’s confession. It led to him denouncing slavery and note that it was a crime that needed eradication. Additionally, the diminishing acts of the Europeans led to many slaves opposing them. In most occasions , â€Å"they charged slaves with blasphemy while in the midst of cruel punishments that resulted from their enslaved status† (Schwartz, 430) Emergence of international antislavery opinions also played a significant role towards ending slavery. According to Bender (19), â€Å"international antislavery opinions led to the evolution of man’s moral perception† (Bender, 19). It made slaves not only to understand themselves, but also their roles in the society. It also made men under slavery to realize that no man was born to be a slave. Additionally, the experiences gathered by men with lordship and bondage contributed to their quest for their rights.Advertising We will write a custom research paper sample on History of Abolishing Slavery specifically for you for only $16.05 $11/page Learn More Publication devices such as books and pamphlets and presentations such as poems, sermons and plays played a significant role towards eradicating slav ery. They achieved this by not only airing out the â€Å"problems of slavery in Western Culture, but also creating public awareness† (Bender, 25). Additionally, they aided people from different areas to share ideas pertaining to slavery. In her article, Dorchen Leidholdt expounds on how children and women were and still are exploited sexually. According to her, any sort of dominance contributed immensely towards advancement of slavery. For instance, she argues that men dominance over women, adults over children, and first world over third world countries contributes immensely towards the occurrence of oppression among the disadvantaged in the society. According to her, it is also evident that â€Å"most slavers were motivated by a desire for sexual gratification, economic gain, or power and domination, or a combination of these factors† (Leidholdt, 2). However, formation of a coalition among continents such as Africa, Australia, and Asia played and a significant role t owards eradicating slavery. In most occasions, â€Å"the Coalition worked against all slavery-like practices such as sexual violence, sex trafficking, and exploitation† (Schwartz, 1). Its work played a significant role in abolishing slavery practices in different nations. Poverty and acceptance of prostitution as a viable practice in the society have also been associated with women and children involvement in sexual practices. They lead not only to many women and children being exploited by their employees, but also advancing sex tourism in most countries (Leidholdt, 7). According to Leidholdt (3), the Coalition â€Å"urges the Working Group to continue addressing slavery and slavery-like practices that affect primarily women and children in order solve slavery problems.† In conclusion, slavery is one of the oldest institutions in the world that existed almost everywhere. Most of its victims were the blacks; majority of the Europeans overworked the blacks in order to i ncrease their revenue. Unfortunately, most religions also took part in enslaving the blacks in the past.Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More It took about two centuries for slavery to be abolished fully. Among the things that led to the eradication of slavery include abolishment of slavery practice in British governments and involvement of British in coaxing other nations to stop slavery. The formation of anti-slavery political crusade in the 18th century by the evangelical Christians also contributed immensely towards the abolishment of slavery. Wilberforce, Thornton and their allies also played a momentous role towards its abolishment. However, it is evident that slavery-like practices still exist in most societies. Poverty, as well as acceptance of prostitution as a societal element plays a significant role in advancing sexual slavery. Bender, Thomas. The Antislavery Debate. Capitalism and Abolitionism as a Problem in Historical Interpretation. New York: Cornell University. 1992. Print. Doren, V. Charles. A History of Knowledge. New York: Ballantine Books. 1992. Print. Leidholdt, Dorchen. Prostitution A Modern Form of Slavery. New York. Web. Schwartz, B. Stuart. Black Latin America: Legacies of Slavery, Race, and African Culture. New York: Duke University Press. 2002. Print. Sowell, Thomas. Race and Culture. New York: Harper Collins Publishers. 1994. Print.

Thursday, November 21, 2019

Pop Culture Experience (Counseling is my subject area) Assignment

Pop Culture Experience (Counseling is my subject area) - Assignment Example In the African culture, marriage is sacred and solidifies relationship amongst communities and even nations. Nigerian culture and by far African culture celebrates the rains, harvests and birth of children which ushers new life and lineage continuity. Marriage is a rite of passage but the way Johnny is portrayed in this song is completely opposite to what young men go through during initiation period (Alade, 2013). A young man is not allowed even to touch a lady before marriage as it is believed it can bring bad omen to the family and embarrass the community at large. Johnny is accurately portrayed in this song due to civilization that is being experienced in the African continent. Western civilization and the unstoppable wave of globalisation has introduced many practices that were not there in the African culture including dating that was never heard of in the yester years. Kenny Rogers hit song â€Å"Coward Of The County† was out in 1979 single in the album Triple Platinum Kenny (Roland, 1991). The song is about Kenny Rogers’s nephew, Tommy, whom everyone in his County regarded a coward and nicknamed him yellow because he never stood up for himself to show the County what he was made of. His dad had died in prison ten years before this song and he had forbidden him to do the things he had done that got him jailed (Roland, 1991). From the lyrics, Tommy’s dad advised him that ‘turning the other cheek’ is not a sign of weakness and that in confrontations he should ‘walk away’; until this one day when Tommy’s girlfriend was raped by The Gatlin Brothers and he had to break his father’s promise by beating all the three brothers leaving them unconscious in the barroom (Roland, 1991). The three brothers in this song, The Gatlin, who are the minority, do not re-present the dominant culture in any society. They felt strong in the County

Wednesday, November 20, 2019

Case Study Research Assignment Paper Example | Topics and Well Written Essays - 1500 words

Case Study Assignment - Research Paper Example These alterations threaten to transform the global environment. As one author imagined it, â€Å"The year is 2035. In New York, palm trees line the Hudson River †¦ Phoenix is in its third week of temperatures over 130 degrees †¦ Holland is under water. Bangladesh has ceased to exist †¦ in central Europe and in the American Midwest, decades of drought have turned once fertile agricultural lands into parched deserts (Rifkin, 1988).† Composition of Greenhouse Gases Methane and carbon dioxide primarily constitute the greenhouse gases. They also consist of water vapor and trace amounts of other gases including ozone, nitrous oxide, and HCFCs. Greenhouse gases â€Å"trap† some of the sun’s infrared radiation within Earth’s atmosphere, similar to a greenhouse. As the levels of greenhouse gases in the atmosphere increase, they trap more of the sun’s heat in the earth’s atmosphere, which has a number of effects on the earth’s env ironment. Were it not for greenhouse gases, most of the sun’s energy would radiate back out into space, leaving the earth cold and lifeless with an average temperature of minus 18 degrees C (0.4 degrees Fahrenheit) (Miller). ... There is no doubt this atmospheric buildup of carbon dioxide and other greenhouse gases is largely the result of human activities. Combined with unnaturally elevated levels of naturally occurring gases, global warming is exacerbated by anthropogenic emissions of additional greenhouse gases into the atmosphere. To illustrate the problem, under pre-Industrial Revolution conditions, global levels of carbon dioxide were around 275 parts per million (ppm). Carbon dioxide levels increased from 275 ppm to 346 ppm between 1860 and 1986, primarily due to the burning of fossil fuels and deforestation (Flavind & Tunali, 1995). Plants convert carbon dioxide to oxygen and are one effective way to absorb carbon dioxide from the atmosphere. Deforestation has resulted in a reduction in the carbon dioxide to oxygen conversion. It is estimated that deforestation contributes 1.0 to 2.5 billion tons of carbon dioxide emissions annually (Oppenheimer & Boyle, 1990). It is thought that global levels of car bon dioxide in the atmosphere will reach 550 ppm sometime between 2040 and 2100; however, most analysts believe those levels will be reached closer to the middle of the twenty-first century (Rifkin). It is estimated that over the next 100 years the temperature will increase about 1.98 degrees C (3.6 degrees Fahrenheit). Such a severe temperature change would most likely cause an increase in heat waves and drought, the spread of infectious diseases, and the disruption of ecosystems worldwide. Furthermore, increased global temperatures is causing the melting of ice in both polar regions, resulting in a rise in sea level, predicted by climatologists to be up

Monday, November 18, 2019

Sport law and society Essay Example | Topics and Well Written Essays - 3500 words

Sport law and society - Essay Example Politics, history, sociology, economy, accounting, media, entertainment, nationalism, racism, gender issues, drug abuse and unhealthy competition have all become part of almost all the sports. No doubt there are many negative aspects; but there still remain a few very positive factors in every form of sports that makes it divine even today. The pure competition, the thrill of enjoyment of playing and watching both do not fail to take us back to the days of Athens sports when sports was played for crystal clear enjoyment and sporting spirit. It has also become a rich language of nationalism and differentiation. It represents the national aspirations and standoffishness both. The pride involved is because of the nationalistic dimension, which sometimes can go overboard, if not properly controlled. When we talk about the controlling, we unwittingly venture into the arena of Sports Law. EXPANDING REGION OF SPORTS Today, sports come under the banner of social psychology and its theories of communication, inclusion and wellbeing of the society. A society which encourages sports activities at any levels like regional, national and international, is regarded as a healthy society that can face playful, ethical and healthy challenges. As a bridge of communication, builder of friendship, resurrector of healthy bodies and minds, and as promoter of strong and competing outlook, sports is unparalleled. It is nothing new that sport has not remained as pure happiness any more and is increasingly getting commercialised which has created both advantages and disadvantages. There are other connected problems that could create or spoil a perfect social atmosphere. Still sports is considered to be one of the highpoints of human life even in the days of early Roman or Greek civilizations. Sports implies some kind of physical activity that could improve the mental or physical prowess of the participants and enjoyment of the onlookers. The competitions are not considered to be a show of enmity, but of happy competition. The 'Spirit of the Game' is the main slogan here. LEGAL SCOPE Although sports should be ideally played in good-humoured and pleasant atmosphere, every country knows today that sports has to be bound by national and international laws that should be respected by all the connected teams and countries. Any deviation from this law is punishable and the rough play, foul mouthing, un-sportsman-like behaviour, hooliganism by fans are all controlled through civil and criminal laws of the land and through the international sports law. Rough sports should be contained and there has to be a realisation that roughness in sports should not go beyond a certain limit. Adventurous sports could be curtailed by law if there is definiteness about its causing body injury for participants, onlookers or both. INTERNATIONAL LAW International sports law is growing steadily in recent years and has shown that it could be very effective1. It has advocated the efficiency of non-judicial remedies which could be tried before approaching the Courts and Tribunals and in some cases, non-judicial remedies could be more effective and less taxing2. But any attempt to flout the rules and regulations of international sports law could end up in embarrassment and perplexity3. At the same time, there is an increase of conflict between national law and international

Saturday, November 16, 2019

Money Laundering And Its Effect On Indian Economy Finance Essay

Money Laundering And Its Effect On Indian Economy Finance Essay Money laundering is the process by which money earned from illegal activities is converted to legitimate money. Money laundering has been and is taking place all over the world which in turn is affecting the economy of world. In a growing economy like India money laundering is a growing and serious problem but is mainly confined to domestic activities that are far from being only drugs related frauds, corruption and smuggling are obvious additional ones (Lilley, 2003).The governments of various nations have been taking various measures to prevent money laundering, however countries like India which is a developing country, are still suffering with the problem of money laundering as there is a lack of general understanding related to money laundering and how corrupt business and government officials exploit this ignorance for their personal benefit. Even though money laundering has been recognised as a dangerous crime by Indian legislative councils, however the lack of general underst anding and insincerity on the governments part to enforce the laws properly, the crime of money laundering is growing and having disastrous impact on Indian economy. According to estimates put forth by international accounting firms, India is estimated to have a parallel economy of nearly 40 percent of its $600 billion Gross Domestic Product. Thats some serious parallel banking system (Singh, 2009). According to Brave (2006), money laundering is the process of turning black money into white money. In India the problem of money laundering is not just limited to hard core criminals but also other division of the society such as like politicians, bureaucrats, stock brokers etc. The Indian Media both electronic as well as print media regularly report various instances of money laundering scams involving political leaders. One of most some of the prominent politicians of India accused of money laundering are the CMs of UP, Punjab and Kerala and Jharkhand. According to news report published in Indian Express, UP chief minister Ms. Mayawati was accused of laundering money by using novel techniques in order to avoid tax payment legitimately. Huge cash donations were made in her name by people who didnt existed and by fictitious people. When a CBI inquiry was ordered it was found that most of these persons who made the donations dont exist or their financial conditions were such that the y were in no positions to donate such large amount of money to her (Sarin [online] 2004). Ketan Parekh who was a stock-broker is another well known Indian who has faced money laundering charges. He was in the news primarily for his manipulative dealings in the stock of 10 companies, which included Digital, Global Tele, Himachal Futuristic, Infosys, Wipro and Zee Tele, better known as the K-10 scripts. Following a CBI enquiry in December 2002, Ketan was arrested. He was accused of transferring the money received from the BoI pay order scam to various tax heavens around the world and finally to accounts in the Swiss Banks (Barve [online] 2006). According to Jayaseelapandian (2000) if money laundering is carried away successfully it lets the criminals to have control over their money and help them cover their sources of income thus making their illegal money rightful. Money laundering plays a primary role in achieving the desires of drug trafficker, terrorist organisations, gangs of organised criminals, inside dealers, the tax evader as well as others who wish to stay away from any kind of interest from the authorities. The primary objective of engaging in this type of activity is to place the proceeds beyond the reach of any asset forfeiture laws. As per Agarwal et al (2004), the estimated value of money laundered globally using the banking route is in excess of US$ 500 billion to one trillion per year. They further state that the global money laundering also exposes a country to attacks from terrorists, which is serious threat to any countrys integrity apart from adversely affecting a countrys economy. Also, of the estimated money laundered every year worldwide using banks, half of this amount is laundered by using US banks. As money launderers are increasingly using the banking channel for laundering process, the banks have a key role to play in restricting the outbreak of money laundering. Money Laundering is not a simple process but a complex procedure involving bankers, lawyers, car dealers, real estate builders, accountants and people, who allow their business to be used by someone to launder the financial gains of a criminal activity. As stated in the above paragraphs, money laundering is a big problem and it doesnt affect just one or two countries but is present at global level specifically in developing countries like India. India where the financial sector has just been liberalized is at greater risk as criminals and people with ulterior intentions can exploit the ever growing financial sector for their corrupt activities. This project aims at bringing general awareness among the people working in financial institution, banking sectors etc about money laundering. This aim can be achieved by studying the money laundering activities taken place in India and different countries and what measures are taken to overcome it. BACKGROUND Uribe (2003) highlights that the word money laundering came into existence in the early 20th Century, but the practice of disguising income earned from unlawful activities can be traced back to the 13th Century B.C at which time the oceans and seas were used as international trade routes. With the changing profile money laundering over the years has become more and more expensive, time-consuming method to carry out and eventually risky. According to Lloyds (1997) the word money laundering originated from one of the most famous mafia Al Capone or Scarface who created a criminal organization in 1920s in the United States as a result of to their activities such as gambling, liquor profits etc. They wanted to conceal their illegal money and to do so they opened legitimate business in another country and mixed their illegal money with the white money. He further states that in 1930s mobster Meyer Lansky gave rise to number of ways to launder money in order to hide the money earned from gambling, sale of illegal alcohol etc. He understood the significance of creating businesses, as fronts for his illegal activities as well as means to launder money. He bought a Swiss bank to transfer the dirty money through different methods such as shell companies, holding companies and offshore bank account. For carrying out illegal activities casinos are one of the most notorious business fronts. In the 1940s Las Vegas was notorious fo r being a tool of money laundering, and was fully exploited particularly by Lansky and Benjamin Bugsy Seigel. It can be said that Lansky was the first to establish modern form of money laundering and tax evasion. Furthermore, Uribe (2003) states that the concept of money laundering is certainly not new. People who undertake criminal activities for financial gain have always strived to keep all attentions away from their illegal activities and profit from their efforts. Day by day the methods of disguising money earned from illegal activity is becoming sophisticated. There are numbers of reasons for this of which some are given below. The globalisation of the financial system: In todays world technological advancements in communications and transportation have allowed the cover up of crime and its proceeds to become a much easier task. In matter of seconds money received from illegal activities can be wire transferred from one financial institution to another; Crime has gone global: It is no longer enough for enforcement authorities to be aware of what is occurring within their own jurisdiction. They must anticipate and cooperate with other authorities and jurisdictions as criminal activities can spread very fast. In addition, criminals no longer have the want to be confined to one country. They have understood that in order to avoid detection by law enforcement and local authorities it is safer for them to shift their property and business between countries. Thus as a result, international criminal organisations shift property from one country to another by taking advantage of the negligent legislation present in some countries that offers safe havens for foreigners looking to hide their money. In simpler terms money laundering can be defined as converting illicit money to legitimate money. This type of money is earned from smuggling, drugs, prostitution, gambling etc. It is the process in which the money earned from criminal activities are transported, transferred, transformed, converted into legal money to hide the actual source of income (Richards, 1999). Money laundering may involve various kinds of financial institution, multiple financial transactions, and the use of intermediaries such as financial advisers, accountants etc from different countries (Schott, 2006). The people in developing countries like India dont know what money laundering is and if they are asked about money laundering they would think it is to do with washing or drying of currency notes. Money laundering was not taken as big crime in the beginning but after the terrorist activities this has been taken as a serious issue and government have started taking action to control it (Barve [online] 2006). According to Jost et al (2002) money laundering in India can be traced way back to 1985 in the Choraria case in which the British courts convicted Choraria for trafficking of controlled drug known as heroin. Choraria was a banker who enabled payment for heroin imported to Britain illegally to be transferred to India. He had opened two legal businesses one was import/export and the other was a remittance business and part of the remittance business was Hawala. He had dealers transferring the funds in Karachi and Mumbai as part of heroin smuggling. Kumar (2003) highlights that India was one of the first countries in the world to introduce anti-money laundering legislation, way back in 1939 which was a wartime measure, in 1973 FERA (Foreign exchange control Act) came into force; more recent laws include the Foreign Exchange Management Act 1999 and the Prevention of Money Laundering Act 2002. But despite these laws in place, it was never forced in earnest. Laws such as FERA and now FEMA are regularly used by politicians to settle political scores against each other. AIM AND OBJECTIVES The aim of this project is to bring general awareness among the people working in financial institution in India regarding money laundering and how it is perpetuated and to fill the vacuum created by lack of training and research material related to the topic. Hence creating an environment where exploiting in the situation by corrupt officials and powerful people becomes more difficult and the potential damage to the economy can be minimized. Thus the following objectives would be studied to achieve the aim . Identify and analyze the process of money laundering and also research over the origin, core concepts and the evolution of money laundering with emphasis on Hawala or Hundi. Identify the factors which are providing impetus to the crime of money laundering. Why Anti Money Laundering laws are needed. Identify and research the current AML (in brief) in place around the world. Identify and discuss regulation of money laundering laws in India Gathering domain expert views over the running practicality of money laundering laws globally in general and specifically in India. . LITRETURE REVIEW Uribe (2003) highlights that the word money laundering came into existence in the early 20th Century, but the practice of disguising income earned from unlawful activities can be traced back to the 13th Century B.C at which time the oceans and seas were used as international trade routes. With the changing profile money laundering over the years has become more and more expensive, time-consuming method to carry out and eventually risky. According to Lloyds (1997) the word money laundering originated from one of the most famous mafia Al Capone or Scarface who created a criminal organization in 1920s in the United States as a result of to their activities such as gambling, liquor profits etc. They wanted to conceal their illegal money and to do so they opened legitimate business in another country and mixed their illegal money with the white money. He further states that in 1930s mobster Meyer Lansky gave rise to number of ways to launder money in order to hide the money earned from gambling, sale of illegal alcohol etc. He understood the significance of creating businesses, as fronts for his illegal activities as well as means to launder money. Furthermore, Uribe (2003) states that the concept of money laundering is certainly not new. People who undertake criminal activities for financial gain have always strived to keep all attentions away from their illegal activities and profit from their efforts. Day by day the methods of disguising money earned from illegal activity is becoming sophisticated. Money Laundering Process Money laundering is the process of changing the source and ownership of capital and assets earned through criminal activities to a legitimate source (Great Britain, 2009) According to Hopton (2006) Money laundering can be done in many ways. It can be a simple method or a complex method which could include international businesses and investments. However, as per the law money laundering has been defined in three stages namely placement, layering and integration. Placement: As per Molander et al (1998) placement is the first step in the money laundering process wherein the money earned from illegal activities is processed in the financial system. In this process the illicit takings is most open to detection. Gilmore (1999) highlights that the main aim of this stage is to move the money from the place it has been earned so as to avoid detection from the authorities. In this stage it has the greatest risk as the dirty money is deposited in financial institutions or used to buy asset. Once the money is forwarded to the financial institution placement takes place. Furthermore, Schneider et al (2008) states that placement can be done in many ways namely primary deposit in which people know that it is the right time to put illegal earnings into a legal financial system without drawing attention of regulatory agencies. The money is separated in limited amounts so that no identification or documentation is required while depositing the illegal money. The other method of placement is by opening new bank accounts in different countries also the corrupted co-workers are used as a way to place illicit money. When money is deposited in banks abroad it helps to enter financial or economic cycle. Another way of placement is through secondary deposit wherein the illicit money is transferred indirectly in the bank system thus converting it into legal money with the help of legal person. The name of unknown individual who work for them is used to open up new accounts, buy assets, open up a company etc. Indirect placement can also be accomplished by forward displacement of the money laundering location onto life insurances, financial service provider and exchange offices Layering: According to Chaikin (2008) this stage involves separating of illegal money from its origin by involving many layers of financial transactions and transfers. As per Gilmore (1999) it is the converting of dirty money to clean money in which the cash is split through various methods which are specially designed to cover the dirty money. It helps to cover the audit trail and provides secrecy. Layering is achieved by purchasing assets of high value such as diamond or by moving money into banks abroad or by overbilling of the value of imported goods. This stage is also known as agitation stage. Moreover, Schneider et al (2008) states that due to the electronic payment system and lack of efficient criminal prosecution helps to make layering process possible. Integration: Gilmore (1999) states that this stage takes place once the layering process is successful. The money is transferred back to the launderer as clean money and is mixed with legitimate economy and financial system. Integration process is generally achieved by setting up unknown institution in places where secrecy is assured. New forms of businesses give way to integration process such as a person can open a webpage and change his dirty money to clean money by showing income from the webpage. Figure1 shows the stages of money laundering. Figure 1: Stages of Money Laundering (Source: http://money.howstuffworks.com/money-laundering1.htm) In India the Reserve Bank of India (RBI) panel suggests that the existing anti money laundering laws needs to be strengthened. They have proposed strict rules to fight money laundering activities and according to which the banks need to improve the procedure and policies for creating proper customers profile and coordinate an cooperate with regulatory and other authorities. According to the panel, to stop money laundering the banks working in India must check the sources of funds in deposit schemes offered to expatriate Indians. The banks should appoint anti-money laundering compliance officer to check and maintain profiles of customers. A data bank for suspicious transactions should be created and forwarded to banks to help them identify the method of doubtful behaviors. The anti money laundering software was launched in India on 17th of September 2003 by Infrasoft Technologies known as OMNI Enterprise, which was first software adopted by India globally (Agarwal et al, 2004). Estimating how much money is actually laundered in the United States, or any other country, or globally is extremely difficult. Money Laundering is a largely secretive happening. The exact number of launders that operate every year, how much money they launder in which countries and sectors, and which money laundering techniques they use is not known (Brigitte Unger, 2007). However, a sustained effort between 1996 and 2000 by the FATF to produce such estimates failed. In fact, no direct estimates exists of how much money passes through the financial system, whether broadly or narrowly defined, for the purposes of converting illegal gains into a non-traceable form (Peter Reuter and Edwin M. Truman,2004). John Walker (1995) was the first to make a serious attempt at quantifying money laundering and initial output. His model suggests that US$2.85 trillion are laundered globally. As per an estimate of the International Monetary Fund, the aggregate size of money laundering in the world could be somewhere between two and five percent of the worlds Gross Domestic Product. While it is impossible to state how much money is laundered every year with authority, it is estimated that US$300 billion to US$500 billion in proceeds from serious crime (not tax evasion) is laundered each year (Scott, David. 1995). Though data on the size of money laundering is scant, UK and US officials estimate that the amount of money laundered annually in the financial system worldwide was roughly $500 billion some 2% of global GDP (Quirk, Peter J., 1997). According to international accounting firms, India is estimated to have a parallel economy of nearly 40 percent of its $600 billion Gross Domestic Product (Sing h, 2009). Table 1: lists several specific estimations of the value and extent of money laundering worldwide. Publication year Estimation year Estimation of Global ML Source 1995 1995 US$100-500 billion John Walker 1998 1997 US$ 300-500 billion U.S. Department of State 1998 1998 2-5% of the global GDP Michel Camdessus IMF 2002 1998 US$ 800 billion to US$ 1.5 trillion Simon Maylam 1998 1998 US$ 2.85 trillion John Walker 2004 US$ 45-280 billion Reuter and Truman 2005 US$ 1 trillion Baker 2008 US$ 1.425 trillion AUSTRAC 2009 2-5% of the global GDP (US$ 800 billion to US$ 2 trillion) UNODC (Source: Alkaabi et al, 2010) Hawala According to Fritsch et al (2001) the Hundi system can hardly be tracked and was developed many centuries before by bookkeepers who were keen to prevent bandit attacks on transcontinental caravans. In this system the money changer takes money from its customer to transfer it to another person in a foreign city which is often done within a day. The changer calls a colleague in the receivers country to deliver the money. To receive the money the beneficiary needs only a receipt which is generally a bank note or a code word mailed by the sender. This method is guaranteed not by fixed assets but by fear. Moreover, in Hawala system Bank notes and pictures are torn in half, and one half is given to the customer and the other is mailed to the beneficiary. The two halves needs to match for the transfer to be completed (Nove, 1991 cited in Carroll, 2007) However, Lilley (2003) highlights that Hawala or Hundi is a substitute or parallel process of transferring money. It exists and runs outside of, or parallel to, traditional banking or financial systems. Hawala was established in India before the Western banking system was introduced, and is one of the most common methods used In India and around the world to launder money. This system provides secrecy as there is no paper work and is based on trust. The money is not transferred physically. In this system the client goes to the broker in one country and asks to make payment to another person in another country. The broker then calls his coworker in the destined country and asks to make payment to the recipient. As a result no paper work is done and is based on trust. The funds are physically transferred at a later stage between the brokers. Furthermore, Mirza (1996) cited in Carroll (2007) states that in the Hawala system transfer of money is confirmed through telephone, email and fac simile. This method even offers pick-up and delivery of money. Dougherty (2006) highlights that Hawala is a value transfer system which has been in use for 1200 years. It can be said as a poor mans Western union wherein they pay 1% of the value sent. It is described as informal value transfer system and is recognized as alternate remittance system. As this method of transferring fund is very difficult to track, it is estimated that $100 billion to $300 billion of money is laundered through them every year. He further states that according to Interpol, with language that leaves and error, Hawala system of remittance can be said illegal in India. As per the law in India the conception of Hawala, such as transfer of value is illegal but more than that under the jurisdiction of foreign currency exchange laws, when Hawala deal includes foreign currency it goes beyond the line of illegality. Hawala can be used in any stage of money laundering for instance in the placement stage the customer can give the money to the broker. In the layering stage the m oney can be separated from the source and leave a puzzling or nonexistence trial and in the integration stage the money transferred from one country to another is difficult to track using Hawala. Hawala system helps in converting illegal money into legal money. The word Hawala is an Arabic word which means moving of money or information from one person to another using the help of third person. This method of transferring money is not traceable by authorities as no paper work is left behind. To launder the money the profits made out of Hawala transactions are put in real estate, films etc (Devi et al, 2010). Also, Hawala is assumed to be used by terrorist to transfer assets (Fernandes, 2002). One of the well known Hawala or foreign exchange case in India was the S. K. Jain (a Hawala broker) case who was arrested in 1991. Huge amount of Indian and foreign currency, some notebooks and a diary was discovered during the searches done in his and his familys property. The diary contained the initials of high level politicians to whom large amount of money were said to have been paid illegally (Wescott et al, 2009). Furthermore, Chopra (1996) highlights that the diary which was found during the search listed a sum of $18 million that was given to the government officials. Although Hawala is illegal in India, it is the corrupt politicians who give rise to such method. Factors which are providing Impetus to the Crime of Money Laundering (Vijay Singh) Many reasons can be attributed to the rising instance of money laundering around the globe of which some are given below. No agreements for sharing tax information with other countries Availability of instant corporations Corporate Secrecy Laws as the corporate law of certain countries enable launderers to hide behind shell companies. Excellent Electronic Communication internet, mobile phones, phones Tight Bank Secrecy Laws A Government that is Relatively Invulnerable to Outside Pressures A high degree of Economic Dependence on the Financial Services Sector A Geographical Location that Facilitates Business Travel to and from rich neighbors. Increase in sophistication and employment of professional people for doing the task. The politician-criminal nexus The lack of effective control over contributions to political parties and election expenses. This enables criminal elements to use their contributions to the political process as a safe channel for money-laundering and for gaining political influence to incapacitate the intelligence and investigating agencies so that they cannot effectively act against them(Raman, B., 2009). According to Agarwal et al (2004) Money Laundering is more vulnerable in the private banking sector due to the following six reasons thus giving rise to instances of money laundering. Private Bankers as Client Advocates The main players in private banks are the bankers who are trained to serve their customers. They open up accounts and move the money around the world using secret tools and financial systems. The private bankers are encouraged by their banks to create personal relationship with their customers by visiting their homes and organizing their financial affairs. As a result of this the private bankers may feel loyal for their customers and may avoid the controls made to detect or stop money laundering. Powerful Clients The customers of private banks may use political or economic power because of which the banks become concerned to fulfill their needs and ask very few questions. Also if the customer is a government employ with control over the banks in country procedure, the bank has grounds to evade fraud. Culture of Secrecy In a private bank secrecy is maintained and one of the examples is that in Swiss banks, accounts are opened by using numbers. Also, the private banks and clients use many levels of privacy to hide accounts and transactions. They open up shell companies to hide the identity of the owner of the bank account and also open up accounts in code names. Secrecy Jurisdictions Some private banks follow business according to secrecy jurisdiction and if the banking information of the client is disclosed it may be illegal and action can be taken against it. Culture of Lax Control At the time to follow the anti-money laundering controls it is the private banker who is asked to check the enforcement of anti money laundering controls. They check the history of their prospective customers and also monitor existing accounts for any fraudulent activity. Also, they are the ones to open any new account and increase client deposits. The private bankers become the advocate for their customers and do not follow the procedure to check their transactions. They do not ask enough questions about their funds and do not record the information provided in a proper form. Cut Throat Competition As a result of competition in the private banks for clients to increase their profitability, money laundering problem is increased.

Wednesday, November 13, 2019

The Heart of Darkness: The Great Human Disease :: Literary Analysis, Joseph Conrad

It is easy to look at others and see their faults and weaknesses, but it is hard to see the same vices in ourselves. In the novella Heart of Darkness, by Joseph Conrad, this universal human flaw can be seen in the character of Marlow. While it appears that Marlow escaped the darkness, really he remained just as lost in the wilderness as the rest of those involved. The truth is that Marlow was not the exception. He may have escaped Africa, but he did not escape the darkness. Marlow thought that he had only â€Å"peered over the edge† (pg. 119), seen into the darkness, when really he had fallen into it. He had been seduced by the snake. It should have been obvious to Marlow that there was something wrong with this company. There were countless clues right in front of him. Nothing was masked or hidden, made to appear wholesome. First of all, the way that he got the job was something that should have raised suspicion. The previous captain had died â€Å"in a scuffle with the natives† (pg. 12). That bit of information should have made Marlow reconsider taking the job or at least raised some questions concerning the circumstances of the â€Å"scuffle.† Aside from how he got the job, from when he first set foot in Brussels, Belgium, Marlow saw so many off-putting things. He describes the city as a â€Å"whited sepulcher† (pg. 14)-a symbol of death. It is a biblical allusion from the book of Mathew. In a passage Mathew describes â€Å"whited sepulchers† saying that they â€Å"appear beautiful outward, but are within full of dead men's bones, and of all uncleanness† (Matthew 23:27). The fact that Marlow recognizes this shows that he is not completely ignorant to the truth about the company. Then he walks into the company’s office positioned on â€Å"a narrow and deserted street in deep shadow† (pg. 14), and he sees these two women knitting black wool, looking as though they were â€Å"guarding the door of darkness† (pg. 16). Basically everything was telling him not to go behind those doors-not to take the interview-and Marlow chose to do it anyway. At one point Marlow even says it was as if he â€Å"had been let into some conspiracy,† into â€Å"something not quite right† (pg. 15). Clearly, Marlow knew that there was something nefarious about the whole business, and yet he took the job just the same, thus disproving his innocence in

Monday, November 11, 2019

Presentation Week

Evaluating Sources of Information To evaluate my work I use the tools in the ICE, The Grammar and Writing guide that is there to help me develop my writing and communication skills. Also the Plagiarism paper checker to verify whether my sources are correct and I have not copied someone else idea. There are labs that you can access to help you with your sources if you're struggling on a particular assignment and live services that you can attend via the Weber and teleconference for about an hour.You have to commit yourself to owing the research and then utilize the tools within the library to assist you in determining the relevancy of your sources, by associating the main idea of your source to the main Idea of your paper. The plagiarism checker is a great tool to use In determining the text of your paper has not been copied or structured In a way that reflects another person Idea. To determine whether or not your source Is reliable depends In part on two key factors, the author and h is/her credibility In their field.Credible authors will cite their sources so you can check the accuracy of what they eve written and how they support their viewpoint. Also, are their views of a neutral nature, and in agreement with your subject, and do they coincide with your topic and main idea? Using the internet as a source can be tricky because it is difficult to determine who the author is, anyone can submit or change the content. Keeping to peer reviewed text is the most reliable, because they undergo a strict evaluation process. The library and Its sources has been a useful guide for me in my recent assignments and no doubt in future tasks.The checks and balances that It provides an and will assist you In submitting a quality paper and hopefully giving you an A paper. It Is Important to remember the effort and work you put In to writing a quality paper benefits you In the long run and strengthens your chances for academic success. These are the criteria I use in evaluating m y information. Presentation Week 5 By Jaguar source to the main idea of your paper. The plagiarism checker is a great tool to use in determining the text of your paper has not been copied or structured in a way that reflects another person idea.To determine whether or not your source is reliable depends in part on two key factors, the author and his/her credibility in their field. Process. The library and its sources has been a useful guide for me in my recent assignments and no doubt in future tasks. The checks and balances that it provides can and will assist you in submitting a quality paper and hopefully giving you an A paper. It is important to remember the effort and work you put in to writing a quality paper benefits you in the long run and strengthens your chances for academic

Friday, November 8, 2019

10 Signs Youre in the Wrong Job and Need to Quit

10 Signs Youre in the Wrong Job and Need to Quit We all know a job is a good thing to have- even, sometimes, the wrong  job. But if you’re in a job that truly isn’t the best one for you, then it might be time for a change. If you’ve started to feel unchallenged or miserable at work and find yourself simply going through the paces to get through to the weekend, then it might be time to start asking yourself questions. Staying in a bad job too long can damage your career. Here are 10 ways to tell if your current job is all wrong.1. There isn’t enough money in the world that would make you happy.It’s not just that you’re not being paid enough. When you ask yourself how much you should be making, you still experience that sinking feeling in your stomach that says you just don’t want to be there. Honor that feeling. If not even a big fat raise can make you feel good about your current job, it’s time to start looking elsewhere.2. You’re getting bad feedback.Not just once or twice, but often- and consistently. This job just doesn’t come as naturally to you as it does to your coworkers, and it’s making you feel bad about yourself. Take some of that feedback to heart and learn to accept your limitations. Then take responsibility for yourself and your career and find a place where you’ll be a better fit.3. You’re just not passionate about it.You listen to people talk about their businesses and their exciting jobs with envy. You could care less about your company and what you do, and you certainly don’t think it’s interesting enough to bring up at dinner parties. Start by rethinking what you are passionate about, what you actually like to do, then see if you can’t find a job doing one of those things instead of what you’re doing now.4. You can’t be yourself.There are plenty of companies out there that want you to be a corporate automaton, but these are fading out of popularity and being replace d with companies who make it their mission to encourage their employees to be who they are. If you have a big personality, stop trying to pound yourself into the wrong-shaped hole. Find a better fit.5. Your industry is dying.Rats are running from the sinking ship. You know it’s over. Your company knows it’s over. Your industry’s time has run out and you’re witnessing its steady decline. Instead of going down with the ship, why not figure out way to take your skills and market them in a new industry?6. Your boss hates you.It’s not just that you don’t like each other; your boss really seems to be out to get you. If this is you, and your work situation has become toxic, there’s probably nothing better you could do than find a way out.7. Your commute is killing your soul.Or even if it’s really not that bad, you just hate your job so much that the process of getting up in the morning and making your way there fills you with dread an d sloth. This is a pretty good sign that you need a change.8. There’s a ceiling.There aren’t many (or any) opportunities in your company for you to advance. Even if you don’t actively hate the job you have, it’s probably not a great idea to stay in a job that won’t allow you to work your way up.9. Your work/life balance has no  balance.Work/life balance is incredibly important. Make sure you’re not burning out. Some jobs will always be more intense than others, but keep in mind that you won’t always be young and you want to stay healthy enough to be able to get through your whole career in one piece. If a job just won’t let up, it might be a good idea to move on.10. You’re not learning.The minute you stop learning new things and being challenged is the moment that you are officially stagnating. This is always a bad idea, in the work world and in your life. Find a way to constantly push yourself to learn and try new thi ngs. And find a job that will let you do this to help maximize your career growth and potential.

Wednesday, November 6, 2019

How to Write an Exemplification Essay on Myths and Religion

How to Write an Exemplification Essay on Myths and Religion No one can write in a certain style he or she does not understand and any attempt to do that for an academic essay will definitely lead to failure. Therefore, any student assigned the task of writing an exemplification essay must first know the rules associated with such act and here is a brief explanation of what it entails. The term exemplification means to provide examples explaining something such as subject matter or topic. So an exemplification essay is one that attempts to make use of examples to prove a point about whatever is been written about. The key to writing an excellent exemplification letter is ensuring that you pay attention to details by using enough examples including facts to support your arguments. For example, if writing on the topic of myth and religion using examples on how ancient mythology found its way into mainstream religion is a good way to show the ties between both terms. Also, note that the examples used must be good and detailed enough to explain your point. So, here are some important guidelines you could put to use when writing your exemplification essay on basically any topic. Organize with Diligence First, it is important you understand the importance of organization and the part it plays in an exemplification essay. Organization takes into consideration three important factors; chronological arrangement, ascending and descending order of examples to be used. The chronological arrangement is mainly used in descriptive essays were the sequence of steps is crucial to understanding the topic been written about. In ascending order, the examples provided should be arranged from the least important ones to the more important examples while for descending order the examples should be arranged in such a way that the most important examples are first used to make your point before using the least important ones. Tackling Myths and Religion in Exemplification To clearly explain the chronological, ascending and descending order and their use in an exemplification essay let’s use ‘the role of ancient myth in religion’ as a sample topic. And the chosen example to explain this topic is: although, most religions have different creation stories, there is a constant factor which is a divine being, created the world out of nothing’. An observing writer can list three facts from this sentence and they are: Most religions believe the myth that the world was created out of nothing Religions believe in a divine being The creation stories in diverse religions are similar. Therefore, using the points in ascending other, we have 2,3,1 with ‘2’ been the least important and ‘1’ the most important while for descending order, we have 1,3,2 with ‘1’ as the most important and ‘2’ the least important example or fact that buttresses the importance of mythology to religion. Exemplify with Discussions Secondly, clear discussions should be used to lay out examples and connect their importance to the topic chosen. This eliminates the possibility of confusing the reader about the point you are trying to make without distorting argument. Lastly, been organized provides the basis for putting the right things in their places such as the introductory statement, essay body and the concluding statement. So here we come to the end of our guidelines on how to write an exemplification essay using myth and religion as an example.

Monday, November 4, 2019

Affordable heath care act (obama Care) Essay Example | Topics and Well Written Essays - 1000 words

Affordable heath care act (obama Care) - Essay Example Without this type of insurance, many American citizens would decline medical treatment from hospitals, resulting to the worsening of their condition and later death, a risk to the U.S economy. Reforms in the sector from 1965 by former President Lyndon Johnson to the reforms by the current Obama administration have shed light to their enactment and implementation as well as their receipt by the people. To counter the negativity of the past policies, the Obama Administration introduced the Patient Protection and Affordable Care Act of 2010, whose policy implementation has had disparities to the citizens and the business direction of America. President Obama signed the Affordable Care Act into law on March 23, 2010. The act has taken the center stage concerning healthcare system in America. It is crafted as the â€Å"ObamaCare† due to President Obama’s efforts to modify the Medicare and Medicaid that were introduced by his predecessor, Lyndon Johnson. The ACA’s full implementation is expected to change the entire scope of the health system in America. Due to controversial, political play by the opposition, the Act was contested in the U.S Supreme Court and upheld as valid to the people of U.S in June 28, 2012. The main goal of the care is to provide many American citizens with affordable accessibility to quality health insurance and to reduce the costs of health care to the citizens. The policy requires the health insurance companies to cover individuals with pre-existing conditions (Kayla 2). The major benefit of the ACA is to provide all Americans access to healthcare. According to Nick (2012), the current statistics from the government show that around thirty seven million citizens have no health insurance due to its expensiveness. The implementation of the law ensures a good health system and insurance for uninsured citizens. In addition, the Act will usher financial aid to the citizens in order to provide them basic coverage, through the Medicaid Program or by subsiding the health insurance system through exchanges. These exchanges will be set up in all states, especially for those that do not create their programs as upheld by the federal government (Nick 13; Leiyu and Douglas 20). The Affordable Healthcare Act reinforces normative out of control costs in the healthcare system. The high prices induced by the previous system were a setback to Americans accessing proper health care. According to statements by the Obama Administration, the ObamaCare cuts, approximately $716 billion wasted and implicated to American citizens from the Medicare. Such amounts, as advocated for by the ACA, are reinvested into the policy implementation and Medicaid. The costs previously utilized in healthcare makes it difficult for the citizens to afford health insurance, and therefore, weaken the nation due to rapid health expenditures. The reduction of such costs, which are got from the taxpayers, ensures that the nation’s budget o n health is reduced. Insurance companies are also kept on check from proposing unjustified rate hikes that affect the citizens (Janet 89). The Act implementation adds more consumer benefits and protections to its citizens. The stereotype that America has a great healthcare system is a dream to many of its citizens. ObamaCare acts as a security to glaring inequalities in the current system being used. Racial discrimination was often practiced towards the blacks and the Hispanics. It creates an impressive bulwark of new client safeguards and benefits. In addition, health insurance

Saturday, November 2, 2019

The European Emissions Trading Scheme - A Critical Appraisal Essay

The European Emissions Trading Scheme - A Critical Appraisal - Essay Example The scheme also featured a ‘flexible’ arrangement where Member States created their own National Allocation Plans. Further on, the report looks into the aspects of the Emissions Trading Scheme in a comparative manner that is, the intention at the beginning, actualization stages and the present state. The main aspects include its boundary where at first the scheme focused on power generating companies and those that use energy-intensive operations that is, metal producing companies and oil refineries. The other aspect is extension where the EU Emissions Trading Scheme has formed links with other schemes through emissions-saving projects through two key mechanisms. Third world countries that have a compulsory cap-and-trade system and they have ratified the Kyoto Protocol have also formed links with the EU scheme. This has seen the carbon market expand to a global reach. Finally, there is the calculation aspect that presents three different models for calculating carbon dio xide emissions. Lastly, a breakdown of the issues has come into play since the inception of the EU Emissions Trading Scheme. ... Introduction Having no prior experience with cap and trade as well as the need to develop knowledge along with architecture for the program, the European Union set out to begin with only carbon dioxide and a restricted number of sectors. This is following the established Kyoto Protocol that was created with the aim of averting hazardous human-induced interference to the climate system. As soon as the infrastructure was in place, additional greenhouse gases and sectors could be included in successive phases of the program. This would come into effect depending on any further emissions that needed to be reduced. Over time, a carbon price that is widely accepted in Europe was instituted, businesses embarked on including the price in their decision-making and the market infrastructure for a multi-national trading system came into existence (Ellerman, Perthuis and Convery 2010,p.2). The principal design of the EU Emissions Trading Scheme follows that all manufacturing sectors that are par ticularly energy-intensive and electricity generators are obligated to get a permit from regulators for every tone of carbon dioxide that they release. The first phase of the Scheme, taking place from 2005 to 2007, saw the permits being issued free based on companies’ historical emission levels. The second phase, taking place from 2008 to 2012, saw generators of electricity having to purchase some of their permits from auctions organized by the government; while, industrial companies continue to get their permits for free subject to some tightening of targets in acknowledgement of the risk of hurting their competitiveness. The third phase, taking place from 2013 to 2020, will see all permits being auctioned with the exception of particular manufacturing sectors that