A Change in Thinking.

A Change in Thinking. A Change in ThinkingIn The Hammer Man, a young black girl learns about racial inequality through an event in her life. Realizing that being black is different than being white, she must change her way of thinking and acting in order to survive. The author, Toni Cade Bambara, wants to explain how racial inequality is not learned but experienced by black people because of their environment.The young girl grew up in an inner city neighborhood. She survived the neighborhood by becoming a tough tom-boy. She did not have much of a home life. She was not very close to her mother; however, she was closer to her father because she was the only girl. Miss Rose was a neighbor who was more like a mother to her. She listened to her problems and would take up for the little girl.Manny is a boy who wants to beat up the little girl because she said bad things about his mother.Sir mannyHe waited for her around her house for days, but she was inside hiding from him. It was around this time when Manny got on the roof and fell off. When she found out he was hurt she came out of her house. She did not see Manny very much after this accident.A youth center opened in the neighborhood and her mother pushed her into joining because she did not want her around. When at the center, she looked in the files and found out that she "was from a deviant family in a deviant neighborhood". One night after being thrown out of the center, she saw Manny practicing his lay-ups. She stood there and watched Manny for an hour and did not know why. The next thing she knew is that two cops are asking...

Christmas Tree Elephant Toothpaste Chemistry Demo

Christmas Tree Elephant Toothpaste Chemistry Demo Did you know you can do the elephant toothpaste demonstration to make a Christmas tree holiday chemistry demonstration? Its extremely easy, plus it makes an excellent demo to do before the  holiday break! Christmas Tree Elephant Toothpaste Materials There are a few ways to set this up to make a Christmas tree. The key is to add green food coloring to get the tree effect and then either perform the demonstration in an erlenmeyer flask, which naturally produces the tree shape, or else perform the reaction in a tube with a tree template placed over it. You can make a tree shape from aluminum foil, with slots cut up the side and an opening at the top to force the foam from the reaction out into the proper shape. 50 ml of detergent100 ml of 30% hydrogen peroxide10 ml of a saturated solution of potassium iodidegreen food coloringerlenmeyer flask or homemade Christmas tree model Procedure Place the erlenmeyer or your Christmas tree container on the lab bench. Add the detergent, peroxide and food coloring.Pour the potassium iodide solution into this mixture to catalyze the reaction.Optionally, touch a glowing splint to the foam tree to relight the splint and demonstrate that the bubbles are filled with oxygen. Safety Information Hydrogen peroxide is an oxidizer. This demonstration uses a higher concentration of hydrogen peroxide than the home variety, which means you need to wear gloves to protect your hands against an accidental splash or spill, which could cause a burn. Chemistry Hydrogen peroxide is catalytically decomposed into water and oxgen. This is a nice example of an exothermic reaction. The audience will be able to see steam rising from the foam. The overall equation for the elephant toothpaste chemical reaction is: 2 H2O2(aq) → 2 H2O(l) O2(g) The decomposition reaction of the hydrogen peroxide into water and oxygen is catalzyed by the iodide ion. H2O2(aq) I-(aq) → OI-(aq) H2O(l) H2O2(aq) OI-(aq) → I-(aq) H2O(l) O2(g) Dishwashing detergent is added to capture the oxygen and form bubbles. This is an exothermic reaction which may produce steam. Kid-Friendly Version of the Demonstration If you cant obtain 30% hydrogen peroxide or simply want a demonstration that is safe enough for kids to perform, you can perform an easy variation of this demonstration: detergentwarm water3% hydrogen peroxide (the type sold at pharmacies)pack of active yeast (from a grocery store)green food coloring In an erlenmeyer or tree-shaped container, mix together 1/4 cup detergent, 1/2 cup of the 3% hydrogen peroxide and several drops of green food coloring.In a separate container, stir the packet of yeast into a small amount of warm water. Allow 5 minutes for the yeast to activate before proceeding with the demonstration.Perform the demonstration by pouring the yeast mixture into the peroxide and detergent mixture. This reaction does not produce the huge volume of foam of the traditional elephant toothpaste reaction, but all of the chemicals are safe enough for kids to handle. In this reaction, yeast catalyzes the decomposition of hydrogen peroxide into water and oxygen gas: 2H2O2 → 2H2O O2(g) As in the other reaction, the detergent captures the oxygen to form bubbles. Less foam is produced because there is a smaller amount of hydrogen peroxide to decompose. Learn More Red and Green Color Change Christmas DemonstrationElephant Toothpaste VariationsBorax Crystal Snowflake Decoration

The Hair Emporium Research Paper Example | Topics and Well Written Essays - 1000 words

The Hair Emporium - Research Paper Example While a franchisor should ideally provide assistance and financial advice to their franchisees as discussed previously, it is important to understand that it is highly unfavorable for Rolando and Rosa to disclose certain types of accounting records and financial records to their franchisees. Most importantly, the financial information that should not be supplied to the franchisees includes computations of costs per unit and other unit-based data which has the potential to outline the inputs of the Hair Emporium in a comprehensive manner. The reasons why Rolando and Rosa are discouraged from providing this information can be represented in terms of the inadequacy and misleading nature of these figures and the competitive threats that are posed by the public disclosure of this data. For example, if provided with unit performance including variable costs that are incurred on material, labor and supplies the franchisee maybe misguided by the financial records as they cannot be applied to the franchised outlet of Hair Emporium. Moreover, the availability of this information to the businesses’ U.S-based competitors would threaten the success of the hair salon in the new country. The completion of balance sheets and operating statements on a monthly and yearly basis is critical to the analysis of the company’s financial position. An accurate examination of a firm’s financial position not only facilitates decision-making but also equips managers and business executives with the tools that are required to evaluate the present scenario and future possibilities for the business. By assessing the financial statements, senior management can discern whether the company has been able to achieve the designated corporate objects such as profit-maximization, survival or increase in market share. Through the completion of the balance sheet and operating statements in a timely manner the financial position of the firm and the result of business operations can be examined (Solomon et al. 1990) to detect any impending risks that may adversely impact the organization and develop a contingency plan to cope with these risks. As owners of the franchised business, Rolando and Rosa can opt to complete their balance sheet and operating statements on a quarterly basis rather than creating these financial statements for every month. This decision would allow them to keep track of the business’ financial position as it appears every three months in the financial calendar. However, a consequence of this selection would be that Rolando and Rosa would not be able to continually assess the development of their business in the United States during the first crucial year of the commencement of operations. At this point, it is imperative for Rolando and Rosa to closely monitor the progress of Hair Emporium in order to identify any potential problems and issues that may hamper the growth of the business. Thus, adopting a quarterly system for the comp letion of financial statements would not be suitable in this scenario. Under the provisions of the franchise agreement, Rolando and Rosa would be entitled to provide the franchisee with initial services that also involve the formulation of financial records and advice related to bookkeeping (Epstein, Nach and Bragg 2009). Local conditions, regulations and

Synthesis of Tris Pyrazolylborate Lab Report Example | Topics and Well Written Essays - 1000 words

Synthesis of Tris Pyrazolylborate - Lab Report Example Trispyrazolylborate (Tp) is an organic anionic tetradentate or tripodal ligand that has the chemical formula [HB (C3N2H3)3]. Trispyrazolylborate specifically refers to the derivatives substituted on the pyrazolyl rings. In the resonance structures of this compound, the nitrogen centers that are not bonded to boron are basic (Topaloglu-Sozuer et al., 2005). These centers bond to three adjacent sites of a metal such that the simple adducts have C3v symmetry. The bonding mode is similar to that of cyclopentadienyl ligands though the ligand field stabilization energy of Tp- is weaker as indicated by the fact that Fe (Tp)2 is a spin crossover complex while ferrocene is low spin (Yong Heng, Aoki, & Feng Ying, 2004). The Tp ligands are prepared in the laboratory by reacting pyrazole with potassium borohydride according to the equation:KBH4 + 3C3H3N2H → K [HB (C3N2H3)3] +3H2The intermediate compounds include the monopyrazolylborate ([H3B (C3N2H2)2]- and the bispyrazolylborate ([H2B(C3 N2H2)2]-. The potassium Trispyrazolylborate is a colorless solid that is soluble in polar solvents and has a melting point of 188-1890C (Maldonado, & Vahrenkamp, 2006).When 3-substituted pyrazoles are condensed with borohydride, the corresponding substituent Trispyrazolylborate derivatives are formed. The substituent formed pushes boron the less hindered nitrogen center and hence 3-phenylpyrazole gives [HB (C3N2H2Ph) 3]- whereas the phenyl substituents project away from the metal.

Racism and Stereotypes Essay Example for Free

Racism and Stereotypes Essay â€Å"Sport provides a particularly public display of relations of dominance and subordination. The point of sport is to display publicly the processes of challenge and struggle between two sides alleged to begin in equal terms but determined to produce and sustain relations of dominance vis-a-vis one another. Moreover, sport as a meritocracy based on skill quietly reaffirms our national common sense; individuals who work hard and possess the right stuff will always prevail. Turned on its head, this lesson becomes even more insidious: those who are at the top must have risen to the top through fair means and thus deserve their position. In contrast, those not at the top do not possess the requisite talent for such privilege. Even the runner-up is a loser†(Wulfemeyer Rada, 2005). Sport provides an objective measure to evaluate the performance of a player and/or a team. There are countless statistics for athletes in every sport, which are evaluated on a daily basis. Statistics show how well an athlete performs and how good of an player they truly are. As an athlete, talent is all that should matter and be looked at when making a judgment of whether they are good or not, unfortunately this does not always hold true today. Stereotyping, racism, sexism and all those negative aspects of life, which were thought to have diminished over the years, are still prominent and portrayed through the media to this day. Stereotyping is the process of imposing characteristics on people based on their perceived group membership (Harrison, 2001). Based on stereotypical beliefs, we make social assumptions and make judgments on our knowledge of the perceived traits of those that fit into social categories. Viewing groups in terms of stereotypes is the brains way of filling in missing information about individuals we know little about by superimposing perceived traits of the group to which they belong. This is an efficient adaptation of the human mind to allow us to get out of â€Å"getting to know† everyone we encounter. Humans have neither the cognitive capacity, time, nor the desire to process all of the information available to us. We therefore use our cognitive space as efficiently as possible by categorizing and compressing information in an attempt to store more (Rose Christina, 2006). When stereotypes are based on a wealth of accumulated social and factual knowledge and are not used to make trait assumptions about individual group members, they are generally accurate and pose few problems. It is when stereotypes are based on false, misleading, or limited information that they become problematic. While most stereotyping, even the problematic variety, can be considered harmless it holds potential for quick activation if circumstances and situations present themselves (Harrison Jr. , 2001). Sport and physical activity provide an abundant ground for the development, utilization, and prolongation of stereotypes. Racial stereotypes regarding the abilities of African Americans and Europeans are very much prominent in the realm of sport and physical activity. These stereotypes have been fueled historically by theories developed to explain the perceived performance differences between African Americans and European Americans. Many years of theorizing and hypothesizing about the natural physical abilities of African American athletes have shaped the thinking of entire populations. These seemingly scientific theories and hypotheses have formed the origin of todays African American athlete stereotype (Armstrong, 2011). The former United Nations Secretary General, Kofi Annan was quoted saying â€Å"sport is a universal language that can bring people together, no matter what their origin, background, religious beliefs or economic status† (United Nations, 2005) but this was not always the case. Major barriers have been conquered over the years to bring equality to this nation and validate the former Secretary General’s above statement. One of the biggest issues that was dealt with was racism. This is a topic many like to tiptoe around and believe is nonexistent in American, the so-called melting pot of the world. Ethnic groups are equal if not more dominant in professional sports today in their participation in sport but the same cannot be said for the coverage of the events that they participate in. Research shows that there are still priming racial stereotypes made by sport announcers (Westerfield, Johnson, Hallian). â€Å"African American athletes, once excluded from participating in professional and intercollegiate sports because of institutionalized discrimination, now participate in many sports at a rate that equals or greatly exceeds their representation in the population. This is especially true in the case of intercollegiate and professional football and basketball† (Center for the Study of Sport in Society, 2001). As equality became more evident in sport, especially football and basketball, so did the media coverage of these sports. The development of technologies, such as the television or Internet, allows people all over the world to watch a growing increase in the popularity of sport. Over the years sports coverage has given a larger viewing population to the networks and the sporting entities have used that coverage to increase their revenue. Even though both equality for the minority player and the media were growing at the same time they were not growing together. It was true that blacks were getting more rights to play but they were not being broadcasted out to a larger audience by the media. For years African Americans and the African American community have been underrepresented in television coverage. When African Americans did appear they were often pigeonholed into demeaning, stereotype ridden portrayals, showing them as â€Å"bestial, brutish, buffoonish, comical, criminal, dependant of government entitlements or support, ignorant, lazy, menacing, oversexed, and prone to out-of wedlock births† (Wulfemeyer Rada, 2005). The question of bias in sports coverage is neither new nor limited to race. To date, several research projects have uncovered bias across race, gender, and ethnicity (Wulfemeyer Rada, 2005). The presence of bias has not been limited by venue either. Research has found bias across a wide range of sporting events ranging from professional and intercollegiate sports in the United States to international events such as the Olympics. Research has also demonstrated that bias can take many forms, from what is heard from the spoken commentary on-air to what is seen from the game coverage (Wulfemeyer Rada, 2005). One form of racial bias that researchers have consistently uncovered is the brawn versus brains descriptions directed toward the players. It would seem as though complimenting an athlete for his or her athletic ability and physical attributes would seem positive and encouraging to a player but that is not always the case. Sometimes these seemingly positive comments have an underlying bias that is revealed by the commentary’s views of the players. This image that is made by the media that African Americans are naturally athletic and are blessed with God given talent can portray the negative creation and perception of the lazy athlete who does not have to work hard or at all at his/her craft. Many times it was also portrayed that blacks were more animalistic and farther away from being civilized than the rest of the population as well. These stereotypical expressions were put into the open in 1989 when Jimmy Snyder, an on-air personality for CBS Sports, openly told the public that the success of African American athletes was the result of selective and effective breeding on the part of the slave owners. Announcers negate not just physical and intellectual ability; intellect and character were also commented on, further negating the African American athlete. These stereotypes are not just targeted towards African Americans; they apply and are present for all races. Examples of these stereotypes are things such as blacks don’t feel pain, have no morals, are not team players have animal instincts, etc. Caucasian players can’t jump, they are hickish, and they are too loud or to opinionated and are very naive to everyday life. People of Asian decent are always good at math, cant drive well and are very strict with their children. Native Americans are lazy and sometimes alcoholics, and only live off the casinos. Hispanics are not patriotic, they all drive trucks; they are all-good at yard work and like to have a lot of children. All of these are examples of stereotypes that are out in society today and the list could continue to go on and on. These stereotypes that are portrayed by the media have prominent effect of the sports that athletes choose to participate in, in many cases it probably even effect what position they play. Since media has become such a big part of today’s society and is incorporated into our everyday lives young athletes watch sports on television and listen to what is being said about certain athletes and are likely to base what they want to do on the sport that they best fit into. For example if you are black you best fit in playing either basketball or football, if you are white you best fit in playing baseball or swimming, if you are of some sort of Hispanic decent you should play soccer or maybe even baseball. Even though racism is suppose to be a topic that was squashed long ago it still lives very much through stereotyping and is successfully denying full integration throughout the spectrum of sport. These same stereotypes that are made by the media towards the male roles of sport also apply to females as well. Even though woman around the world now participate in sport they are still not held to the same standard as males. â€Å"When female athletes transgress gender norms and boundaries, even in a â€Å"Post-Title IX† moment, they are still held to antiquated societal standards of emphasized femininity and feminine appearance by the mainstream news media† (Waches, Messner, Dworkin, Cooky, 2010). A great examples of this taking place is the Don Imus controversy in 2007 when he made stereotypical, sexist and offensive comments about the Rutgers University woman’s basketball team. Sexism is the belief or attitude that women are inferior to men, the application of masculine stereotypes to women or the hatred of one gender or sex (Griffin, 1992). â€Å"In collegiate sports, sexism can manifest itself in several ways including inequitable funding dedicated to women’s sports, media coverage of women’s sporting events, women’s college coaching salaries, views on elite female athletes and prejudice and discrimination against lesbians† (Whiteside Hardin, 2009). Sexist views on female athletes originated in the 1920s, from medical establishment concerns about the masculinizing effects of sport participation on women. From a contemporary standpoint, football, men’s basketball and most male college sports draw more interest and revenue than women’s college sports. This reality provides the foundation for beliefs about female athletic inferiority (Griffin, 1992). Sexism appears most often in women’s basketball, in part, because the game draws the most attention among women’s college sports and because women’s basketball is more similar to a men’s sport than any other college sport. In addition, women’s basketball is not one of the socially approved feminine sports like tennis or golf. Traditionally, prissy sports like tennis, golf and gymnastics are viewed as more feminine and these sports are, coincidentally, inundated with White women. Black women have customarily participated in basketball and track, which have long been considered as masculine sports. Sport controversies can alienate and oppress Black female student-athletes who already confront isolation, media criticism, prejudice and stereotypes. Neglecting race and gender controversies in sport can impact athletic department’s brand name recognition, alumni donations, corporate sponsorships and game attendance. More important, race and gender controversies also can negatively affect minority and female student-athletes’ recruitment, student-athletes’ social development and social justice for all student-athletes. â€Å"Inquires should uncover sociocultural implications that can be used to craft recommendations in instances when race, gender, and sport adversely intersect† (Waches, Messner, Dworkin, Cooky, 2010). It is said that racism is something of the pass and in today’s society it is non-existence but according to Gill (2011) there is a modern type of racism called new racism. New racism is based on the widespread belief that racism no longer exists and civil rights legislation created an equal playing field. New racism includes feeling a way of life is threatened by others and different cultures are assumed to be incompatible. The traits that truly distinguish new racism from historical racism are: racial ambiguity, blaming Blacks for their problems, and the use of the media to facilitate racism. Racial ambiguity refers to putting forth a non-prejudiced explanation for what might be considered as a prejudiced statement. For instance, when Don Imus was asked to explain his comments about the comment he had made about the woman’s Rutger team he stated that his comments were intended to be a joke. Present in new racism, unlike historical racism, is the belief that the problems Blacks experience are not a result of social disadvantage, but rather a result of some predisposed deviance in Black culture (Gill, 2011). It is evident that racism, sexism, prejudice, stereotyping and a lack of equality are still very much present it sport today. Even with all the equality acts and laws that have been passed the playing field has yet to be leveled amongst different races, ethnic groups, and genders. Even though many sports have been intermingled there are still many sports that are dominated by one specific minority and that is not how it should be. The media needs stop putting emphasis and specific aspects of certain people’s life because in doing this they are generalizing a group. Through generalization the media is implying that a certain group of people are all the same and thus should all be expected to act the same way. This brings a very negative aspect to sport. Since sport is such a big part of American culture I believe that the media should really begin to change their ways and stay as unbiased as possible to allow the viewing population to make their own judgments and opinions on people based on their talent, not on what generalized group they have been placed in. References Armstrong L., Ketra (2011). ‘Lifting the Veils and Illuminating the Shadows’: Furthering the Explorations of Race and Ethnicity in Sport Management. Journal of Sport Management 25, 95-106. Gill Jr, L. Emmett (2011). The Rutgers Woman’s Basketball Don Imus Controversey (RUINUS): White Privlages, New Racism, and the Implications for College Sport Management. Journal of Sport Management 25, 118-130. Griffin, Pat (1992). Changing the Game: Homophobia, Sexism, and Lesbians in Sport. QUEST 4, 251-265. Harrison Jr, Louis (2001). Understanding the Influences of Stereotypes: Implications for the African American in Sport and Physical Activity. QUEST 53, 97-114. Rose, J. Debra, Christina, W. Robert (2006). A multilevel Approach to the Study of Motor Control and Learning (2nd ed). University of North Carolina-Greensboro: Pearson. Wachs L. Faye, Messner Michael, Dworkin L. Sheri, Cooky Cheryl (2010). It’s Not About the Game: Don Imus, Race, Class, Gender and Sexuality in Contemporary Media. Sociology of Sport Journal 27, 139-159. Westerfield R. Carl, Johnson L. Darrell, Hallinan J. Christopher. Picturing Success: Photographs and Stereotyping in Men’s Collegiate Basketball. Journal of Sport Behavior 22:1. Whiteside E. Erin, Hardin Marie (2009). The Power of â€Å"Small Stories:† Narratives and Notions of Gender Equality in Conversations About Sport. Sociology of Sport Journal 26, 255-278. Wulfemeyer K. Tim, Rada A. James (2005). Color Coded: Racial Descriptors in Television Coverage of Intercollegiate Sports. Journal o Broadcasting Electronic Media 49, 65-85.

Halfway Houses/Hawthorn Heights Essays -- Criminal Justice

As the need for increasingly punitive community-based sanctions grew, the demand for a greater variety of programs and services became apparent, as did the importance of a more seamless transition from total incapacitation to total freedom of prisoners re-entering society. A variety of community corrections methods have developed over the years, one being the institution of halfway houses. To adequately understand residential community corrections, one must consider the origins, components, and effectiveness of halfway houses. Initially halfway houses in the United States were operated by nonprofit organizations as a means for recently released prisoners to find their footing upon re-entry. Between 1816 and 1930, the function of the halfway house was to provide interim food and shelter while the offender looked for work and became financially stable enough to support themself. Participation was strictly voluntary as state support was lacking, primarily due to the fact that it was and is strongly believed ex-offenders should minimize their contact with one another. (Alarid and Del Carmen 182) A transition to treatment and correctional supervision via halfway house in the 1950’s garnered great support as concern regarding parole revocation and crime increased. In a matter of years halfway houses began to receive government assistance and financial support. Funding sources were dramatically increased through the 1968 Safe Streets Act and a focus on community corrections was prevalent. By the time funding began to decrease in the 1980’s, halfway houses had found their place in corrections as an alternative to incarceration and a safe place for offenders to transition out of prison, reducing potential problems due to overcrowding. (A... ...do V. Del Carmen.Community-Based Corrections. Eigth. Belmont: Wadsworth, 2011. 179-206. Print. Klein-Saffran, Jody. "Electronic Monitoring vs. Halfway Houses: A Study of Federal Offenders."Alternatives to Incarceration. Fall 1995: 24-28. Web. 29 Mar. 2012. . Lagos, David. NC Courts. NC Sentencing and Policy Advisory Commission . Compendium of Community Corrections Programs in North Carolina . Raleigh: , 2010. Web. . Shilton, Mary K. U.S. Department of Justice. Bureau of Justice Assistance. Increasing Public Safety Through Halfway Houses. 2003. Web. content/3-halfway-houses-pub-safety.pdf>. Halfway Houses/Hawthorn Heights Essays -- Criminal Justice As the need for increasingly punitive community-based sanctions grew, the demand for a greater variety of programs and services became apparent, as did the importance of a more seamless transition from total incapacitation to total freedom of prisoners re-entering society. A variety of community corrections methods have developed over the years, one being the institution of halfway houses. To adequately understand residential community corrections, one must consider the origins, components, and effectiveness of halfway houses. Initially halfway houses in the United States were operated by nonprofit organizations as a means for recently released prisoners to find their footing upon re-entry. Between 1816 and 1930, the function of the halfway house was to provide interim food and shelter while the offender looked for work and became financially stable enough to support themself. Participation was strictly voluntary as state support was lacking, primarily due to the fact that it was and is strongly believed ex-offenders should minimize their contact with one another. (Alarid and Del Carmen 182) A transition to treatment and correctional supervision via halfway house in the 1950’s garnered great support as concern regarding parole revocation and crime increased. In a matter of years halfway houses began to receive government assistance and financial support. Funding sources were dramatically increased through the 1968 Safe Streets Act and a focus on community corrections was prevalent. By the time funding began to decrease in the 1980’s, halfway houses had found their place in corrections as an alternative to incarceration and a safe place for offenders to transition out of prison, reducing potential problems due to overcrowding. (A... ...do V. Del Carmen.Community-Based Corrections. Eigth. Belmont: Wadsworth, 2011. 179-206. Print. Klein-Saffran, Jody. "Electronic Monitoring vs. Halfway Houses: A Study of Federal Offenders."Alternatives to Incarceration. Fall 1995: 24-28. Web. 29 Mar. 2012. . Lagos, David. NC Courts. NC Sentencing and Policy Advisory Commission . Compendium of Community Corrections Programs in North Carolina . Raleigh: , 2010. Web. . Shilton, Mary K. U.S. Department of Justice. Bureau of Justice Assistance. Increasing Public Safety Through Halfway Houses. 2003. Web. content/3-halfway-houses-pub-safety.pdf>.

How is Lady Macbeth presented by Shakespeare? Essay

How is Lady Macbeth presented by Shakespeare? In what ways does she change through the course of the play, and how does this affect the audience’s response? Introduction Macbeth is a Scottish play written by William Shakespeare between 1603 and 1606 and the links between King James and this tragedy are evident. The themes presented in this play are ambition, desire, and succession to the thrown, loyalty, order and greed. I will be analysing how Shakespeare portrays and presents Lady Macbeth through different stages and events in the play. Para 1 The audience first meets Lady Macbeth in Act 1 scene 5. She is reading Macbeth’s letter alone. After reading the letter she displays her thoughts about Macbeth becoming the king. The audience is instantly shown that Lady Macbeth is ambitious, as the first words she utters are, â€Å"Glamis thou art, and Cawdor, and shalt be† This shows that she believes that Macbeth will be the thane of Cawdor. However, she describes Macbeth’s flaws as well as his qualities in negative and positive images, † †¦I do fear thy nature, It is too full o’th’milk of human kindness.† Lady Macbeth is saying that Macbeth’s kindness to others is a weakness in his nature and character. Also, that it may adversely affect him becoming the king as he is not ruthless. She says that this ruthlessness ‘illness’ that Macbeth doesn’t have, saying Macbeth will take any opportunity that comes his way, but he only wants to win his honours honestly. He wants to be king even though the throne is not his by right, but he will not play falsely. Lady Macbeth decides that she will have to help him to find the necessary determination. The audience can see that Lady Macbeth is domineering and ambitious. We learn that Macbeth’s wife is ‘his dearest partner of greatness’. This salutation may suggest that he looks toward her for help as she possesses a power and supremacy that he sees. She has power over him and he obeys her. However, they do love each other as is shown=== Q The captain describes Macbeth as brave and determined as is described earlier in the play, ‘For brave Macbeth (well deserves that name †¦which smoked with bloody execution.† The captain praises Macbeth’s savagery in battles because it has preserved the rightful king and has shown Macbeth to be loyal. Lady Macbeth also agrees that her husband is determined and loyal when she says, ‘woulds’t not play false’ (p.35, line 20) However, she believes that he is to weak and kind and would not kill to get his way. Para 2 In this soliloquy in act 1 scene 5. A messenger comes to tell Lady Macbeth that King Duncan will arrive that night. Lady Macbeth is excited, seeing this as the perfect opportunity to make Macbeth king. She calls the spirits of darkness to take away her natural womanliness and to fill her instead with the worst of bitterness, wickedness and cruelty so that she can help Macbeth commit this act. She does not want any natural feelings of regret or conscience to get in the way of what she intends. â€Å"Come, you spirits†¦ †¦unsex me here And fill me from the crown to the toe topfull Of direst cruelty.† Like Macbeth she asks the powers of darkness to hide her thoughts so that not even the forces the forces of heaven can see through the ‘blanket of the dark’. So the true nature is concealed. A 17th century audience could find this disturbing as she is subverting the qualities and features of a typical woman. Lady Macbeth would’ve been played by a man, therefore, this speech would become more convincing and realistic. Women in the 17th were usually stereotyped as motherly, meek and complacent towards their husbands. Whereas, Lady Macbeth is an atypical woman who commands her husband. The similarities that we can draw from Lady Macbeth and the witches are uncovered when Lady Macbeth uses the word ‘raven’ as the whiches also use animals such as a cat and a frog. Para 3 At the beginning of the scene (act 1 scene 7) Macbeth informs the audience about his doubts and fears which taunt him. Macbeth convinces himself not to murder Duncan by giving three reasons, â€Å"First, as I am his kinsman and his subject, Strong both against the deed.† Macbeth is stating that he is a loyal subject to King Duncan. He also says, â€Å"Then, as his host, Who should against his murderer shut the door, Not bear the knife myself.† He is saying that he should be protecting the king rather than trying to kill him. Lastly, Macbeth adds, â€Å"Besides, this Duncan Hath borne his faculties so meek, hath been So clear in his great office, that his virtues Will plead like angels.† Macbeth’s conscience is very persuasive. He tells himself that Duncan’s goodness and kindness is such that his murder would provoke tremendous outcry. Images of heaven and hell are linked†¦ Para 4 At the beginning of Act 2 scene 2 the audience can sense that Lady Macbeth waits anxiously for Macbeth. Lady Macbeth is very nervous and agitated, â€Å"Alack! I am afraid they have awaked, And tis not done: Th’attempt and not the deed Comforms us.† This tells us that she is very panicky and doesn’t want to get caught, if she does get caught her life being a queen will be ruined. When Macbeth arrives Lady Macbeth is very happy and knows that the deed, â€Å"my husband!† she says. The murder is over and Lady Macbeth is relieved but Macbeth’s got a feeling he might get caught. Macbeth won’t take back the daggers because he is so ashamed that he has done the murder and he can’t say, â€Å"Amen.† All this happens because Lady Macbeth ignores the rules of humanity and organised society, pursuing her own ruthless motives. However, repeatedly Lady Macbeth gives the appearance of being in control but she was unable to kill the king herself, claiming he looked too much like her father, † Had he not resembled My father as he slept, I had done’t.† This feeling of guilt is a glimpse of a more human side revealed to the audience. She, too, seems to realise the wrongness of the murder. Not much later she advises her husband, â€Å"These deeds must not be thought, After these ways: so, it will make us mad.† Both Lady Macbeth and Macbeth’s character is different in this scene. At the start of the scene Lady Macbeth is nervous and doesn’t want to do the murder, but Macbeth is confident and does the murder. After the murder Macbeth is scared and is in a trance of what he has done. Lady Macbeth has calmed down and regained her self-composure. Para 5 During the banquet in Act 3 scene 4, Macbeth sees the ghost of Banquo sitting in his place. Lady Macbeth reacts to Macbeth by quietly accusing her husband of being a coward, as she did at the time of Duncan’s murder, â€Å"Are you a man?† (p.63). Lady Macbeth tries to attack his masculinity and state of mind by questioning it, â€Å"Why do you make such faces? When all’s done, You look but on a stool.†(p.63) She is trying to convince Macbeth that there is nothing there. Lady Macbeth says all he needs is sleep, but this is ironic, as Macbeth has ‘murdered sleep’ and Banquo has risen from his ‘sleep’. Lady Macbeth is trying to cover up for her husband’s behaviour. This behaviour is making Lady Macbeth more insecure and anxious even though she taunts Macbeth, this time she is weary. In contrast to her powerful speeches at the end of act 1, here she only suggests that he needs sleep. Once the ghost has vanished Macbeth expresses, â€Å"I am a man again.†(p.65) Lady Macbeth then utters, â€Å"You have displaced the mirth, broke the good meeting, With most admired disorder.† (p.65) The greater part of the play is devoted to this part. He is king. We see Macbeth in action, others comment on his reign of terror. Macbeth is king but he wants to be safe king where he has nothing to fear and he fears Banquo a lot because he is the only one that has seen and heard the witches tell Macbeth the prophecies: – â€Å"To be thus is nothing, But to be safely thus: our fears in Banquo Stick deep, and in his royal nature Reigns that which would be feared.† Macbeth’s tells the murderers that they were treated badly by Banquo and this is the time to kill him, but Macbeth doesn’t want to get involved in the murder. He wants the murderers to get the blame. The murderers do whatever they are commanded: – â€Å"We shall my lord, Perform what you command us, Though our lives.† This is a sign that being King Macbeth means getting so much respect. In comparison from the moment he is crowned king. Macbeth executes a reign of terror that has already started with the killing of Duncan, together with his wife he is ruthless in pursuing his own selfish aims. He organises the death of those whom he se †¦ Macbeth: Lady Macbeth’s Character Lady Macbeth is a controversial figure. She is seen by some as a woman of strong will who is ambitious for herself and who is astute enough to recognise her husband’s strenghts and weaknesses, and ruthless enough to exploit them. They see her in her commitment to evil and in her realisation that the acquisition of the Crown has not brought her the hapipiness she had expected, and finally, as one who breaks down nuder the strain. Others see her as a woman ambitious for her husband whom she loves. She recognises the essential good in him, and feels that, without her, he will never win the Crown. She allies herself with the powers of darkness for his sake, but here inherent(congenital) femininity beraks down under the strain of the unnatural murder of Duncan and the alienation of her husband. She is seen as simple and realistic where Macbeth is complicated and imaginative. She can see what must be done; he visualises the consequence. There is a vast difference between Macduff’s â€Å"O gentle Lady ‘Tis not for you to hear what I can speak The repetition in a woman’s ear Would murder as it fell.† ACT II, Sc.ii and Malcolm’s assessment of her as a â€Å"fiend-like queen† (Act IV, Sc.vii). So we must examine the text. To Macbeth, in his letter to her, she is his â€Å"dearest partner of greatness†, an indication of love and trust. We see her as she analyses his virtues and weaknesses and decides to overcome his scruples, â€Å"hie thee hither That I may pour my spirits at thine ear† Is there any evidence here as to why she wishes him to be king? Overcome By Ambition – When she calls on the powers of evil to unsex her and make her cruel, does this imply that she fears her own womanliness and realises the unnaturalness of the murder of Duncan? Is she, like Macbeth just an ordinary human being overcome with ambition? Does she really lose her womanliness? Do the words(Act I, Sc. ii) â€Å"Had he not resembled My father as he slept, I had done’t† imply that she is still a woman with a woman’s tendernesss? Does she show herself strong willed and more determined than Macbeth, Act I, Sc.vii, as she argues and demands his agreement to the murder? Is she alloy by exploiting his love for her when she makes his consent to murder a test of his love? Is she being cynical when she inverts logic and reality in asking him if he is afraid to be what he wants to be and in suggesting that to be a true man he must take what he wants? Must she take some of Macbeth’s guilt here? In the murder scene (ActII, Sc.ii) she resorts to wine to give her courage. Does this also show that she has not been filled from top to toe with â€Å"direst cruelty†? She is aware, too, that dwelling on the moral aspect of the murder â€Å"will make us mad†. The Better Criminal? – She seems to be the better criminal; she remembers the details that Macbeth has overlooked, â€Å"Why did you bring these daggers from the place?† and shows her as she brings the daggers back. Does she really despise Macbeth when she argues him of wearing â€Å"a heart so white†? Or is she afraidfor him that he may betray himself? In Act II, Sc.ii, when she calls for help does she do so because of her feminie weakness, or is she afraid that Macduff may question Macbeth further as to his killing of the chamberlains? If the latter, does it again illustrate her quick thinking? Unhappiness – In Act III, Sc.ii, Lady Macbeth is coming to realise that the Crown has not brought happiness, â€Å"Nought’s had, all’s spent, Where our desire is got without content.† Is she suffering from remorse here, or does she think that the murder of Duncan has alienated Macbeth from her? â€Å"How now, my Lord! Why do you keep alone?† Is she worried that he is unhappy? She tries to console him, â€Å"what’s done is done.† and to rally his spirits. She again shows her presence of mind in the Ghost scene when he becomes ‘unmanned’, but then, she does not see the Ghost. She uses the old stragedy of appealing to his manliness, but without success. When the guests have departed she does not upbraid Macbeth, but makes excuses for him that he lacks â€Å"the season of all natures, sleep.† Does this show her gentleness and compassion towards him? Or does she feel that further argument would be useless? The Sleep-Walking Scene – We do not meet her again until this scene. She has now been reduced to a poor, mad creature, broken by events. Our last view of her is her delusion of nearness to Macbeth. Is there a stress on her sense of guilt, her despair and, perhaps still, her determination? Macbeth’s few words about her (Act V,Sc.v) may be uttered in an indifferent tone, or even with a sense of something already lost. In the end, perhaps, we feel guilty for her, but we may still remember what appeared to be hardness and cruelty. +Persuading Macbeth She says that he is acting as if he were drunk when he clothed himself in his hopes to become king. In a powerful speech she explains how far she would ne prepared to go to get what she wanted. Lady Macbeth tells him that if, like him, she had sworn to do something, then, before she would go back on her word, she would ‘pluck her own baby from sucking milk at her nipple and dash its brains out’.

The Role of Banking Sector in the Prevention of Money Laundering in Bangladesh

Chapter One Introduction 1. 0 INTRODUCTION Besides of development of Economic activities, monetary related crimes are also increasing in both developed and underdeveloped countries. Almost in each country illegal transaction of money has been increased & these illegal money has been also used on various illegal activities. Money laundering process refers to illegal receipt or transfer of fund from one place to another. This process involves not only the banking system of the country but also non-banking system.Bangladesh is moving towards an open economy with a small-magnetized sector by liberalizing the financial and economic policies. However, the money laundering mechanisms are creating problem for a country like Bangladesh. Bangladesh Bank as the Central bank of Bangladesh Supervise all the banking and non-banking financial transactions on behalf of Bangladesh Government. Money laundering process is a great obstacle to the execution of monetary policy adopted by Bangladesh bank t o stable the economy of the country.To prevent money laundering, money laundering prevention bill 2002 was passed in the National Assembly of Bangladesh on 5 April 2002 and Gazette Notification was made on 7 April 2002. And Bangladesh Bank has been designated to act as the main preventive agency. Money Laundering has serious adverse effect on Economical, Political & Social condition of a country. It increases unequal distribution of income and as a result, the employment level, output level of the country, price stability as well as economic development and growth can be hampered.So it is immediately required to prevent it. I believe it is a matter of great opportunity for me to study on this topic, as Money laundering, is a manifestation and a facilitator of organized crime, and has attracted increasing interest in our country. Due to money laundering process, desirable investment of the country cannot be done, national income declines and economic growth of the country hampers. 1. Background of Money LaunderingThe mafia mobster Al Capone is most often credited with coining term â€Å"money laundering† because he used investments in coin-operated Laundromats to disguise or â€Å"wash† the millions he made from bootlegging and other illegal enterprises during the Prohibition in the US-the banning of alcoholic drinks in the 20th century. It is also said that the term â€Å"laundering† is used because, years ago, the cash proceeds (in U. S. dollars) from drug sales were actually washed with soap and water to appear old and worn. Launderers would then go to the Federal Reserve Bank and exchange the â€Å"laundered† bills in for new bills.Along with the new bills came a fed receipt, which served to support the â€Å"legitimate† origin of the cash. The scam was finally identified when someone at the Fed realized that the serial numbers on the bills indicated that they should not be as old and worn as they appeared to be. The term first appeared in newspapers reporting the Watergate scandal in the US in 1973 and in judicial/legal contest in the US in 1982. Whilst the term â€Å"money laundering† was coined in the 20th century, it has been going on for several thousand years.The history of money laundering is interwoven with the history of trade and of banking. In 1986, the U. S. became the first country in the world to criminalize the â€Å"laundering† of the proceeds of criminal activity when it passed the U. S. money laundering law. The silk road which scholars say first became a real link around 100 BC, ran for 12,000 kilometers and linked some of the greatest civilizations the world has ever seen – the Chinese, Mongolian, Indian, Persian, Greek, Byzantine, Mesopotamian and Egyptian – transporting goods, people, ideas, religions and Money.Chinese inventions like gunpowder and paper first traveled to Europe in this manner. Along with many other things, Syrian jugglers and acrobat s, cosmetics, silver, gold, amber, ivory, carpets, perfume and glass from Europe, Central Asia, Arabia and Africa traveled to the east. It lasted until the 15th century when newly discovered sea routes to Asia opened up. Traditional method of moving money evolved before Western banking became established in the region protecting early merchants along the Silk Road against robbery.In ancient China it was known as â€Å"fei qian† or â€Å"flying coins†. The system spread throughout the world – to other Asian regions, the Indian Subcontinent, the Middle East, eastern and southern Africa, Europe and North and South America – following immigration patterns. These traditional money transfer systems are called as Chop, Hawala, Hundi, etc. 1970-The US Congress enacted the Bank Secrecy Act (BSA) in October 1970 following increasing reports of people bringing bags full of illegally – obtained cash into banks for deposit.The BSA is simply a reporting and reco rd-keeping statute. Although willful violations of its terms are a crime; it does not criminalize money laundering as such. BSA requires banks –retain financial details, -report cash transactions over $ 10,000/-. Thus in 1986, the U. S. became the first country in the world to criminalize the â€Å"laundering† of the proceeds of criminal activity. Thus made money laundering a crime in its own right, and strengthened the BSA in several respects, most importantly by prohibiting â€Å"structuring†. 990 – The Financial Crimes Enforcement Network (FinCEN) created by the US Treasury on April 25, initially to focus on the detection of financial crimes by providing analytical support to law enforcement investigations. In 1994, the agency would be given BSA regulatory responsibilities. 1992 – Annunzio-Wylie Money Laundering Act amended the BSA in several respects. Perhaps most important, required any financial institution, and its officers, directors, emplo yees and agents, â€Å"to report any suspicious transaction relevant to a possible violation of law or regulation. The Annunzio –Wylie Act, require all financial institutions to put in place, not only BSA compliance programs, but also anti-money laundering programs. At a minimum, the programs would be required to include: 1) The development of internal anti-money laundering policies, procedures and controls; 2) The designation of a compliance officer; 3) An ongoing employee training 4) An independent audit functions to test the program. At first U. S. A. has taken initiative to money laundering but now most of the countries of the world are aware about it. 2. Origin of the ReportThis Research Paper has been prepared for the partial fulfillment of Masters of Business Administration (MBA) Programme. For this purpose honorable teacher and supervisor Mr. Md. Nazrul Islam, Head of the Department of Business Administration, Shahjalal University of Science & Technology, Sylhet aske d to submit a proposal. After discussing with him about various issues of money laundering I have submitted a proposal on â€Å"The Role of Banking Sector in the Prevention of Money Laundering in Bangladesh † was submitted and then the final research paper is prepared. 3.Objective of the Paper The objective of the research paper is to help the students be familiar with how the theoretical knowledge obtained in the degree program can be applied in practice. Generally research is either problem identifying or problem solving tool. The objectives of the study are as follows: – 1. To understand the theoretical concepts of money laundering. 2. To show the present scenario of anti money laundering issues in Bangladesh. 3. To observe the policy development and maintenance by Bangladesh Bank as a supervisor of anti money laundering activities. 4.To figure out core procedures that Bangladesh Bank adopts to supervise the anti money laundering activities. 5. To comment on the exi sting system and recommend for improvement. 1. 4 Methodology Certain methods and techniques is utilized to collect data for this research paper. This study is mainly based on empirical as well as theoretical analysis. Collected data and information is tabulated, processed and analyzed critically in order to make the report informative. Both primary and secondary sources of data are chosen as effective means of collecting data relevant for this paper. . To prepare first part of the research paper secondary sources were used. Publications and database within Bangladesh Bank and others commercial bank helped me to get data about money laundering and its prevention. Various types of circular of Bangladesh Bank regarding money laundering exist in different commercial banks. This paper also required study of annual report, policy related circulars, and service rules, administrative circulars and other related papers. To get more information, I have also collected some books about money la undering and searched website. 2.Interview of the personnel from people within these relevant organizations was the basic technique to collect primary data. Informal discussion with executive connected with the planning and control works in the various levels of the Bangladesh Bank was needed. To collect data and to analyze these properly I have to be interviewed face to face with bank officials. . 5. Justification of the Research To prevent money laundering is very complex task especially in a country like Bangladesh where most of the citizens are illiterate and their economic bad condition inspired them to involve in illegal activities.This increases economic misery of the have-nots and concentrated wealth in the hands of 10% of the total population. The scope and scale of money laundering has increased over time and the process of addressing the problem has become complex because of the global nature of the problem. So cooperation among the law enforcing agencies, awareness of th e overall people of the country about its adverse effects, government strictness to avoid political interferences, all these are required to prevent it, that is, creation of wareness against money laundering is of highest importance at the moment. After about three months research with various money-laundering issues with Bangladesh Bank and Commercial Banks this paper is intended to fulfill course requirements of Masters of Business Administration. Bangladesh Bank, which is the authorized Bank to monitor all the banking and non-banking financial institutional activities, so I have worked on it in details. Beside this I have studied other operational areas of the commercial bank, which have enriched the level of my knowledge. . 6 Limitations Though this report provides the insights of Money Laundering in Bangladesh and the mechanisms by which Bangladesh Bank takes steps to prevent Money Laundering, it has some limitations as well. As the activities of money laundering are illegal, a ll of work is going on behind the sight of general public; it is hard to find out the adequate & real data. The organization on which was studied is the Central Bank of BANGLADESH, which is not a private or public bank of Bangladesh.The main limitation that faced during conducting the study was lack of access to information considered confidential by employees of central bank based on their policy and strategies. Chapter Two 2. 1 Brief History of Money Laundering The mafia mobster Al Capone is most often credited with coining term â€Å"money laundering† because he used investments in coin-operated Laundromats to disguise or â€Å"wash† the millions he made from bootlegging and other illegal enterprises during the Prohibition in the US-the banning of alcoholic drinks in the 20th century.It is also said that the term â€Å"laundering† is used because, years ago, the cash proceeds (in U. S. dollars) from drug sales were actually washed with soap and water to appea r old and worn. Launderers would then go to the Federal Reserve Bank and exchange the â€Å"laundered† bills in for new bills. Along with the new bills came a fed receipt, which served to support the â€Å"legitimate† origin of the cash. The scam was finally identified when someone at the Fed realized that the serial numbers on the bills indicated that they should not be as old and worn as they appeared to be.The term first appeared in newspapers reporting the Watergate scandal in the US in 1973 and in judicial/legal contest in the US in 1982. Whilst the term â€Å"money laundering† was coined in the 20th century, it has been going on for several thousand years. It is said that the abuse of Chinese merchants and others by oppressive regimes and despotic rulers led them to find ways to hide their wealth, including ways of moving it around without it being identified and confiscated. Money laundering in this sense was prevalent 4000 years before Christ.Many minori ties in countries down the ages and around the world have taken steps to preserve wealth from the rulers- either from blatant confiscation or from taxation and, indeed, from a combination of both, who have targeted them simply because of their beliefs or colour. It is happening even today. And, of course from those seeking to enforce judgments in civil cases or to follow the money that results from other crime. The history of money laundering is interwoven with the history of trade and of banking. In 1986, the U. S. ecame the first country in the world to criminalize the â€Å"laundering† of the proceeds of criminal activity when it passed the U. S. money laundering law. 2. 2 The Silk Road – Once World’s main commercial artery The silk road which scholars say first became a real link around 100 BC, ran for 12,000 kilometers and linked some of the greatest civilizations the world has ever seen – the Chinese, Mongolian, Indian, Persian, Greek, Byzantine, Me sopotamian and Egyptian – transporting goods, people, ideas, religions and Money. Heading west were porcelain, furs, spices, gems and other exotic products of Asia.Chinese inventions like gunpowder and paper first traveled to Europe in this manner. Along with many other things, Syrian jugglers and acrobats, cosmetics, silver, gold, amber, ivory, carpets, perfume and glass from Europe, Central Asia, Arabia and Africa traveled to the east. It lasted until the 15th century when newly discovered sea routes to Asia opened up. Traditional method of moving money evolved before Western banking became established in the region protecting early merchants along the Silk Road against robbery. In ancient China it was known as â€Å"fei qian† or â€Å"flying coins†.The system spread throughout the world – to other Asian regions, the Indian Subcontinent, the Middle East, eastern and southern Africa, Europe and North and South America – following immigration patte rns. These traditional money transfer systems are called as Chop, Hawala, Hundi, etc. 2. 3 History of Criminalizing Money Laundering 1970-The US Congress enacted the Bank Secrecy Act (BSA) in October 1970 following increasing reports of people bringing bags full of illegally – obtained cash into banks for deposit. The BSA is simply a reporting and record-keeping statute.Although willful violations of its terms are a crime, it does not criminalize money laundering as such. BSA requires banks –retain financial details, -report cash transactions over $ 10,000/-. 1974 –although the BSA is accepted now, its constitutionality was originally challenged in the courts by elements of the banking community and some civil libertarians. BSA was challenged on a number of grounds. In California Bankers Assn . v. Shultz, 416 U. S. 21 (1974) Supreme Court rejected claims that various parts of the BSA violated constitutional rights. 986 – Growth, seriousness of the problem of Money Laundering, and of widespread non-compliance with the BSA, led to the enactment of the Money Laundering Control Act of 1986. Thus in 1986, the U. S. became the first country in the world to criminalize the â€Å"laundering† of the proceeds of criminal activity. Thus made money laundering a crime in its own right, and strengthened the BSA in several respects, most importantly by prohibiting â€Å"structuring†. 1990 – The Financial Crimes Enforcement Network (FinCEN) created by the US Treasury on April 25, initially to focus on the detection of financial rimes by providing analytical support to law enforcement investigations. In 1994, the agency would be given BSA regulatory responsibilities. 1992 – Annunzio-Wylie Money Laundering Act amended the BSA in several respects. Perhaps most important, required any financial institution, and its officers, directors, employees and agents, â€Å"to report any suspicious transaction relevant to a possible v iolation of law or regulation. † The Annunzio –Wylie Act, require all financial institutions to put in place, not only BSA compliance programs, but also anti-money laundering programs. At a minimum, the programs would be required to include: ) the development of internal anti-money laundering policies, procedures and controls; 2) the designation of a compliance officer; 3) an ongoing employee training 4) an independent audit functions to test the program. 2. 4 Why Money Laundering is done? Criminals engage in money laundering for three main reasons: First, money represents the lifeblood of the organization that engages in criminal conduct for financial gain because it covers operating expenses, replenishes inventories, purchases the services of corrupt officials to escape detection and further the interests of the illegal enterprise, and pays for an extravagant lifestyle.To spend money in these ways, criminals must make the money they derived illegally appear legitimate . Second, a trail of money from an offense to criminals can become incriminating evidence. Criminals must obscure or hide the source of their wealth or alternatively disguise ownership or control to ensure that illicit proceeds are not used to prosecute them. Third, the proceeds from crime often become the target of investigation and seizure. To shield ill- gotten gains from suspicion and protect them from seizure, criminals must conceal their existence or, alternatively, make them ook legitimate. 2. 5 Why we must combat Money Laundering Money laundering has potentially devastating economic, security, and social consequences. Money laundering is a process vital to making crime worthwhile. It provides the fuel for drug dealers, smugglers, terrorists, illegal arms dealers, corrupt public officials, and others to operate and expand their criminal enterprises. This drives up the cost of government due to the need for increased law enforcement and health care expenditures (for example, f or treatment of drug addicts) to combat the serious consequences that result.Crime has become increasingly international in scope, and the financial aspects of crime have become more complex due to rapid advances in technology and the globalization of the financial services industry. Money laundering diminishes government tax revenue and therefore indirectly harms honest taxpayers. It also makes government tax collection more difficult. This loss of revenue generally means higher tax rates than would normally be the case if the untaxed proceeds of crime were legitimate. We also pay more taxes for public works expenditures inflated by corruption.And those of us who pay taxes pay more because of those who evade taxes. So we all experience higher costs of living than we would if financial crime—including money laundering—were prevented. Money laundering distorts asset and commodity prices and leads to misallocation of resources. For financial institutions it can lead to a n unstable liability base and to unsound asset structures thereby creating risks of monetary instability and even systemic crises. The loss of credibility and investor confidence that such crises can bring has the potential of destabilizing financial systems, particularly in smaller economies.One of the most serious microeconomic effects of money laundering is felt in the private sector. Money launderers often use front companies, which co-mingle the proceeds of illicit activity with legitimate funds, to hide the ill-gotten gains. These front companies have access to substantial illicit funds, allowing them to subsidize front company products and services at levels well below market rates. This makes it difficult, if not impossible, for legitimate business to compete against front companies with subsidized funding, a situation that can result in the crowding out of private sector business by criminal organizations.No one knows exactly how much â€Å"dirty† money flows through the world's financial system every year, but the amounts involved are undoubtedly huge. The International Money Fund has estimated that the magnitude of money laundering is between 2 and 5 percent of world gross domestic product, or at least USD 800 billion to USD1. 5 trillion. In some countries, these illicit proceeds dwarf government budgets, resulting in a loss of control of economic policy by governments. Indeed, in some cases, the sheer magnitude of the accumulated asset base of laundered proceeds can be used to corner markets — or even small economies.Among its other negative socioeconomic effects, money laundering transfers economic power from the market, government, and citizens to criminals. Furthermore, the sheer magnitude of the economic power that accrues to criminals from money laundering has a corrupting effect on all elements of society. The social and political costs of laundered money are also serious as laundered money may be used to corrupt national instit utions. Bribing of officials and governments undermines the moral fabric in society, and, by weakening collective ethical standards, corrupts our democratic institutions.When money laundering goes unchecked, it encourages the underlying criminal activity from which such money is generated. Nations cannot afford to have their reputations and financial institutions tarnished by an association with money laundering, especially in today's global economy. Money laundering erodes confidence in financial institutions and the underlying criminal activity — fraud, counterfeiting, narcotics trafficking, and corruption — weaken the reputation and standing of any financial institution. Actions by banks to prevent money laundering are not only a regulatory requirement, but also an act of self- interest.A bank tainted by money laundering accusations from regulators, law enforcement agencies, or the press risk likely prosecution, the loss of their good market reputation, and damaging the reputation of the country. It is very difficult and requires significant resources to rectify a problem that could be prevented with proper anti-money-laundering controls. It is generally recognized that effective efforts to combat money laundering cannot be carried out without the co-operation of financial institutions, their supervisory authorities and the law enforcement agencies.Accordingly, in order to address the concerns and obligations of these three parties, these Guidance Notes were drawn up. 2. 6 Techniques in Money Laundering There are diversified method of money laundering which ranges from the purchase and resale of a luxury item (e. g. a house, car, or jewelry) to passing money through a complex web of legitimate businesses and ‘shall’ companies (i. e. those companies that primarily exist only as named legal entities without any trading business activities). Basically 3 stages, which may comprise numerous transactions by the launderers-Placement†”the physical disposal of the initial proceeds (derived from illegal activity). 1. Breaking up of large amounts of cash into smaller amounts. 2. Depositing the cash in bank and subsequently transferring the same amount from one bank to another, preferably, in abroad. 3. Exchanging into a foreign currency and subsequently conversion into local currency. 4. Cash purchase of single premium insurance policy or other investment. 5. Cash purchase of costly items like jewelry, diamond, car, aircraft, and boats etc as an alternatives to cash. 6.Injecting the cash in business like hotels, restaurants, bars, casinos, bookmakers, travel agency, taxi firm etc. which handle considerable cash in day-to-day operation. Layering—creation of complex layers of financial transactions for disguising the audit trail and provide secrecy. 1. Purchase & sale of securities and commodities via brokers. 2. Conversion into monetary instruments like BCD, TC, BONDs. 3. Electronic funds transfer-very freq uently. 4. Making deposit in outstation bank branches or overseas banking system. 5. Sale & purchase of material assets between some fictitious persons/associates.Integration – the laundered proceeds are set back into the economy in such a way that they re-enter the financial system appearing as normal business funds/legal money. Identification of illicit source becomes next to impossible. 1. Falsification (over/under invoicing) of invoicing/export. 2. Deployment of fund in ‘shell’ company and recoup the as legitimate profit. 3. Taking aid of corrupt bank employees and obtaining bank loan by depositing illicit money as security. 4. False loan repayment. 5. Taking aid of E-cash, which enables to move vast amount of money instantly with just a few keystrokes. . 7 Moving Money Abroad Legitimate purposes-are for moving money abroad: (1) to invest, (2) to speculate, (3) to lend, (4) to meet trading/personal obligations and (5) to safeguard assets against theft or seiz ure by repressive regimes. But a criminal moves money abroad for- (1) Dealing in arms & ammunition, (2) Drug trafficking, (3) Financing terrorist activities, (4) Evasion of exchange regulations/control, (5) Evasion of taxation, (6) Disguise or remove proceeds of threat/fraud/bribe, (7) Making blackmail payments and (8) Paying ransom for kidnappers.The banking system remains one of the most important avenues for money launderers. The use of bearer certificate of deposit, bank drafts, wire transfers to transmit funds internationally and establishment of loan back scheme are commonly used as banking instruments around the world. New methods are constantly being used to avoid detection. These may include simple measures as â€Å"Smurfing† or Structuring that is making numerous small deposits which would fall below a suspicious cash transaction report, using relatives, third party or false names on accounts or more sophisticated measures such as use of shell companies.A recent stu dy by FATF found increasing use of non-bank financial institutions (Money Changers, remittance business etc. ) to provide services attractive to launderers since these institutions are subject to fewer regulatory requirements than banks. Because of increasing profit from the drug trafficking and other criminal enterprises, money launderers are adopting new techniques, employing specialized expertise who can provide sophisticated methods of laundering and various other financial services.Techniques used include false invoicing (over- invoicing, under- invoicing), commingling of legal and illegal money, the use of bank loan arrangements (whereby the launderer transfers proceeds to another country and use them as security for a bank loan, which is sent back to original country) and layers of transactions through off-shore shell companies. In addition, a significant amount of illegal proceeds has been invested in real estate. However, because of the introduction of anti-money laundering counter measures in different countries, money launderers constantly seek new ways to circumvent regulation.Methods that work tend to be replicated in different locations or may be used with some modifications. 2. 7. 1 Underground Banking (Alternative Remittance System) There has also of under ground or alternative banking system commonly known as ‘Hawala’ or Hundi in the sub-continent. This system works without a paper trail. A ‘Hawala’ bankers issue neither a written receipt for the sum received nor an order for payment. What he does, make a firm verbal commitment to the seller of dollars to make an equivalent taka payment at the agreed rate of exchange, through his agent in the particular country.Then he sends a coded message to his agent containing the designated recipients name and time, date and address for the payment. Why people resort to underground banking a. Socio-economic & political reasons b. Higher returns c. Anonymity d. No available bankin g channel e . Avoidance of local taxes f. Illiteracy/Semi-literacy Advantages of Hundi/Hawala: a. No paper trail b. No bureaucracy c. Cost effective d. No body is the loser and e. No holiday-very fast delivery [pic] Figure 1. Basic sequence of communication and payment in an alternative remittanceThe Chinese have a similar system known as ‘fie chien’ or flying money. This system, sometimes known as ‘Chit’ system involved depositing money in one country in exchange for chit or a chop (i. e. a seal) and remittance of this money in another country on presentation of the chit. It is fast and convenient, does not involve the transportation of bank cash, leaves little trail for investigators, has virtue of anonymity and the costs are fairly low. The main negative consequence of money laundering can have on the financial system.A large-scale money laundering operation may put at the risk of smaller nation’s financial system through loss of credibility and i nvestor’s confidence. The victims of the bank’s malpractice were the depositors and the government in developing countries. 2. 7. 2 Electronic Money Laundering Criminals are always looking for â€Å"a new type of detergent which allows for cleaner laundry† (Bortner, 1996). They have been quick to exploit each new method of financial transfer. In the 1980s and 1990s wire transfers became a popular method for moving money in both the legal and illegal sectors.By 2000 we may see the same situation with e-money. The abuse of e-money by money launderers may become a significant problem in the future because e-money systems will be attractive to money launderers for two reasons: 1. Transactions may become untraceable; and 2. Transactions are incredibly mobile. Untraceability |E-money systems may provide Organized Crime with untraceable, | |mobile wealth. | The use of e-money systems will mean fewer face-to-face financial transactions.The anonymity of e-money will make â€Å"knowing your customer† much more difficult. E-money systems also allow the parties to the transaction to deal with each other directly, without the assistance of a regulated financial institution. Thus, there may not be a traditional audit trail. Mobility Hypothetically, e-money could come from anywhere in the world, and be sent anywhere in the world. Thus, e-money systems may offer instantaneous transfer of funds over a network that, in effect, is not subject to any jurisdictional restrictions.The problem may be illustrated by separating the process of money laundering into three basic steps – placement, layering and integration – and then comparing traditional money laundering systems with cyber-systems. The first step in money laundering is the physical disposal of cash. Traditionally, placement might be accomplished by depositing the cash in domestic banks or other kinds of financial institutions. Or the cash might be smuggled across borders for depos it in foreign accounts, or used to buy high-value goods, such as artwork, airplanes, or precious metals and gems, that can then be resold with payment by cheque or bank transfer.With e-money laundering, cash may be deposited into an unregulated financial institution. Placement may be easily achieved using a smart card or personal computer to buy foreign currency, goods, etc. Powerful encryption may be used to guarantee the anonymity of e-money transactions. The second step, layering, involves working through complex layers of financial transactions to distance the illicit proceeds from their source and disguise the audit trail. This phase traditionally involves such transactions as the wire transfer of deposited cash, the conversion of deposited cash into monetary instruments (e. . , bonds, stocks, travelers' cheques), the resale of high-value goods and monetary instruments, and investment in real estate and legitimate businesses, particularly in the leisure and tourism industries. Shell companies, typically registered in offshore havens, are a popular device in the traditional layering phase. These companies, whose directors are often local attorneys acting as nominees, protect the identity of the real owners. These owners also benefit from restrictive bank secrecy laws and attorney-client privilege In an electronic-money system, layering can be done through a personal computer.There is usually no audit trail. In addition, e-money systems allow for instantaneous transfer of funds over a system that, in effect, has no borders. The last step is to make the wealth derived from crime appear legitimate. Traditionally, integration might involve any number of techniques, including using front companies to â€Å"lend† the money back to the owner or using funds on deposit in foreign financial institutions as security for domestic loans. Another common technique is over-invoicing, or producing false invoices for goods sold – or supposedly sold – ac ross borders.In e-money laundering the criminal may be able to achieve integration by using a personal computer to pay for investments or to buy an asset, without having to call on the services of an intermediary financial institution. In short, the temptation of electronic forms of money for the criminal may be the potential for untraceable, mobile wealth. 2. 8 Vulnerability of the Financial System to Money Laundering Money laundering is often thought to be associated solely with banks and moneychangers. All financial institutions, both banks and non-banks, are susceptible to money laundering activities.Whilst the traditional banking processes of deposit taking, money transfer systems and lending do offer a vital laundering mechanism, particularly in the initial conversion from cash, it should be recognized that products and services offered by other types of financial and non-financial sector businesses are also attractive to the launderer. The sophisticated launderer often involv es many other unwitting accomplices such as currency exchange houses, stock brokerage houses ,gold dealers, real estate dealers, insurance companies, trading companies and others selling high value commodities and luxury goods.Certain points of vulnerability have been identified in the laundering process, which the money launderer finds difficult to avoid, and where his activities are therefore more susceptible to being recognized. These are:  ¦ entry of cash into the financial system;  ¦ cross-border flows of cash; and  ¦ Transfers within and from the financial system. Financial institutions should consider the money laundering risks posed by the products and services they offer, particularly where there is no face-to-face contact with the customer, and devise their procedures with due regard to that risk.Although it may not appear obvious that the products might be used for money laundering purposes, vigilance is necessary throughout the financial system to ensure that weakn esses cannot be exploited. Banks and other Financial Institutions conducting relevant financial business in liquid products are clearly most vulnerable to use by money launderers, particularly where they are of high value. The liquidity of some products may attract money launderers since it allows them quickly and easily to move their money from one product to another, mixing lawful and illicit proceeds and integrating them into the legitimate economy.All banks and non-banking financial institutions, as providers of a wide range of money transmission and lending services, are vulnerable to being used in the layering and integration stages of money laundering as well as the placement stage. Electronic funds transfer systems increase the vulnerability by enabling the cash deposits to be switched rapidly between accounts in different names and different jurisdictions. However, in addition, banks and non-banking financial institutions, as providers of a wide range of services, are vulne rable to being used in the layering and integration stages.Other loan accounts may be used as part of this process to create complex layers of transactions. Some banks and non-banking financial institutions may additionally be susceptible to the attention of the more sophisticated criminal organizations and their â€Å"professional money launderers†. Such organizations, possibly under the disguise of front companies and nominees, may create large scale but false international trading activities in order to move their illicit monies from one country to another.They may create the illusion of international trade using false/inflated invoices to generate apparently legitimate international wire transfers, and may use falsified/bogus letters of credit to confuse the trail further. Many of the front companies may even approach their bankers for credit to fund the business activity. Banks and non-banking financial institutions offering international trade services should be on thei r guard for laundering by these means.Investment and merchant banking businesses are less likely than banks and moneychangers to be at risk during the initial placement stage. Investment and merchant banking businesses are more likely to find them being used at the layering and integration stages of money laundering. The liquidity of many investment products particularly attracts sophisticated money laundering since it allows them quickly and easily to move their money from one product to another, mixing lawful and illicit proceeds and integrating them into the legitimate economy.Although it may not appear obvious that insurance and retail investment products might be used for money laundering purposes, vigilance is necessary throughout the financial system to ensure that non traditional banking products and services are not exploited. Intermediaries and product providers who deal direct with the public may be used at the initial placement stage of money laundering, particularly if they receive cash. Premiums on insurance policies may be paid in cash, with the policy subsequently being cancelled in order to obtain a return of premium (e. . by cheque), or an insured event may occur resulting in a claim being paid out. Retail investment products are, however, more likely to be used at the layering and integration stages. The liquidity of a mutual funds may attract money launderers since it allows them quickly and easily to move their money from one product to another, mixing lawful and illicit proceeds and integrating them into the legitimate economy. Lump sum investments in liquid products are clearly most vulnerable to use by money launderers, particularly where they are of high value.Payment in cash should merit further investigation, particularly where it cannot be supported by evidence of a cash-based business as the source of funds Insurance and investment product providers and intermediaries should therefore keep transaction records that are comprehensive enough to establish an audit trail. Such records can also provide useful information on the people and organizations involved in laundering schemes. Corporate vehicles trust structures and nominees are firm favorites with money launderers as a method of layering their proceeds. Providers of these services can find themselves much in demand from criminals.The facility with which currency exchanges can be effected through a bureau is of particular attraction especially when such changes are effected in favor of a cheque or gold bullion. 2. 9 Money Laundering-Bangladesh Scenario Bangladesh is neither a drug producing nor a major consumer country for drugs. However, our country’s proximity to Golden Triangle in the East and Golden crescent in the West rendered her vulnerable to drug trafficking and drug related problems. In Bangladesh, no drug cartel, drug syndicate or organized groups of drug dealers have been intercepted till to day.At present, phensedyl, heroin and cannabis r ank first, second and third in order of prevalence in the country. The influence of the drug money is not yet felt to pose a major concern for us. However, Money laundering is no less then significant in our economy. Both black money and dirty money are being laundered in various ways as under: 1. Conversion of local currency into foreign currency from black market. Smuggle it out of the country and deposit it to any foreign bank; 2. The use of hundi to send money overseas; 3. The use of bearer instruments (drafts, cheques, stock certificate etc) 4.Operating business enterprises, which hardly makes profits, but shows large profits and pays taxes to cover and legalize their dirty money; 5. The use of third party or false name accounts at financial institutions; 6. The purchase of items of value (such as luxury goods, gold, vehicles real estate); 7. Create investment companies in which fictitious persons deposit money invest in shares, stock and bonds; 8. Financing the political group s by other country; 9. Excess greediness; 10. No proper way to determine the amount of income on assets; 11.Dishonesty of customs, defense and government employee; 12. Problems of illegal immigrant; 13. Lack of co-operation from the Bangladesh embassy with Bangladeshi people living in the foreign country; 14. Lack of co-operation from the foreign branches of banks and foreign exchange organization with Bangladeshi people living in the foreign country; 15. Bureaucratic complexity & extra payment; 16. Lack of providing temporary debt privilege; 17. Smuggling; 18. Under invoicing; 19. Transfer pricing & over invoicing; 20. Illegal transaction of capital; 21. Terrorist financing; 22.Lack of potential political figure; 23. Demonstration. 1. Money Laundering Effects on Society 1. Laundered money may be used to corrupt national institutions. Bribing of officials and governments undermines the moral fabric in society, and by weakening collective ethical standards, corrupts our democratic in stitutions. 2. Money laundering erodes confidence in financial institutions and the underlying criminal activity—fraud, counterfeiting, narcotics, trafficking, and corruption—weaken the reputation and standing of any financial institution. 3. Governments need to increase health care expenditures e. . treatment of drug addicts, treatment of victims of violence, etc. 2. 9. 2 Economic Effects of Money Laundering Because crime, underground activity, and money laundering take place on a large scale, macroeconomic policymakers must take them into account. But, because these activities are hard to measure, they distort economic data and complicate governments’ efforts to manage economic policy. In addition, the ability to identify statistically the country and currency of issuance and the residency of deposit holders key in understanding monetary behavior.To the extent that money demand appears to shift from one country to another because of money laundering-resulting in misleading monetary data—it will have adverse consequences for interest and exchange rate volatility, particularly in dollarized economies, as the tracking of monetary aggregates becomes more uncertain. The income distribution effects of money laundering must also be considered. To the extent that the underlying criminal activity redirects income from high savers to low savers or from sound investments to risky, low-quality investments, economic growth will suffer.For example, there is evidence that funds from tax evasion in the United States tend to be channeled into riskier but higher-yielding investments in the small business sector, and also that tax evasion is particularly prevalent in this sector. Fraud, embezzlement, and insider trading seem likely also to be more prevalent in rapidly growing and profitable businesses and markets, because â€Å"that’s where the money is. † Money laundering also has indirect macroeconomic effects. Illegal transactions c an discourage legal ones by contamination.For example, some transactions involving foreign participants, although perfectly legal, are reported to have become less desirable because of an association with money laundering. More generally, confidence in markets and in the efficiency-signaling role of profits is eroded by widespread insider trading, fraud, and embezzlement. And, money that is laundered for reasons other than tax evasion also tends to evade taxes, compounding economic distortions. Moreover, contempt for the law is contaminating—breaking one law makes it easier to break others.Accumulated balances of laundered assets are likely to be larger than annual flows, increasing the potential for destabilizing, economically inefficient movements, either across borders or domestically. These balances could be used to corner markets—or even small economies. The above effects are to some extent speculative; however, the Quick study (1996) also conducted empirical test s on the relationship between GDP growth and money laundering in 18 industrial countries for the first time.It found evidence that significant reductions in annual GDP growth rates were associated with increases in the laundering of criminal proceeds in the period 1983-90. 2. 9. 3 How money is laundered in regional basis in Bangladesh. It has found by the research team from both the different secondary & primary sources that, there are regional trends of money laundering in our country. Such as- In Sylhet region there are a lot of people lived in foreign countries. So there are great chances of illegal money transfer in this region i. e. hundi or hawala.This system works without a paper trail. A hawala banker issues neither a written receipt for the sum received nor an order for payment. What he does, make a firm verbal commitment to the seller of dollars to make an equivalent taka payment at the agreed rate of exchange, through his agent in Sylhet region. Then, he sends a coded mes sage, to his agent containing the designated recipients name and time date and address for the payment. As well as chance of gold smuggling in this region from foreign lived people and their local relatives.In Chittagong region there are a lot of cases of drug smugglings and arm smugglings occurring in front of the eye of different law enforcing agencies. In Khulna region there are many incidents of forest materials & other goods of laundering. In Comilla region a lot of suger, sharies, and fensdils are smuggled every year in our country. In the Rajshahi region the occurrence of cattle smuggling are very common, and it has a network to supply cattle all over the country especially in the season of Eid . How money is laundered Smurfing involves the use of multiple cash deposits, each smaller than the minimum cash-reporting requirement. †¢ Misinvoicing of exports and falsification of import letters of credit and customs declarations can conceal cross-border transfers of, say, the proceeds of drug trafficking. †¢ Barter: stolen property (e. g. , antiques or automobiles) can be exchanged, across national borders or domestically, for illegal substances. †¢ Parallel credit transactions can be used to avoid the formal economy, except for the final use made of the net proceeds of illegal activity to purchase legally marketed goods or services. Interbank wire transfers may not be subject to reporting on money laundering; bribery of bank officials can thus make it easier to conceal large illegal transfers between accounts. †¢ Derivatives that replicate insider trading opportunities (e. g. , a synthetic version of a company stock subject to merger or takeover) can be used to avoid detection of an unusual change in a listed stock price. 2. 11 International Anti-Money Laundering Initiatives Money laundering has become a global problem as a result of the confluence of several remarkable changes in world markets (i. . , the globalization of markets). The growth in international trade, the expansion of the global financial system, the lowering of barriers to international travel, and the surge in the internationalization of organized crime have combined to provide the source, opportunity, and means for converting illegal proceeds into what appears to be legitimate funds. In 1986, the U. S. became the first country in the world to criminalize the â€Å"laundering† of the proceeds of criminal activity with the enactment of the Money Laundering Control Act of 1986.Since enacting the law, the U. S. Congress has increased its coverage, reach and scope, making it the broadest, strongest and most far-reaching money laundering law in the world. The U. S. law is a weapon of enormous breadth and power wielded by U. S. prosecutors in that country. Those convicted under the law face a maximum prison term of 20 years and a fine of $500,000 per violation. A legal entity such as a bank or business that is convicted under the law faces fines and forfeitures.In addition, a bank that is convicted of money laundering can lose its charter and federal deposit insurance. Persons and entities also face civil money penalties. Concerted efforts by governments to fight money laundering have been going on for the past fifteen years. The main international agreements addressing money laundering are the 1988 United Nations Vienna Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (the Vienna Convention) and the 1990 Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds of Crime.And the role of financial institutions in preventing and detecting money laundering has been the subject of pronouncements by the Basle Committee on Banking Supervision, the European Union, and the International Organization of Securities Commissions. The Vienna Convention, adopted in December 1988, laid the groundwork for efforts tocombat money laundering by creating an obligation for signa tory states (including Bangladesh) to criminalize the laundering of money from drug trafficking.It promotes international cooperation in investigations and makes extradition between signatory states applicable to money laundering. It also establishes the principle that domestic bank secrecy provisions should not interfere with international criminal investigations. During the past twenty years there have been a number of resolutions passed by the ICPOInterpol General Assembly, which have called on member countries to concentrate their investigative resources in identifying, tracing and seizing the assets of criminal enterprises.These resolutions have also called on member countries to increase the exchange of information in this field and encourage governments to adopt laws and regulations that would allow access, by police, to financial records of criminal organizations and the confiscation of proceeds gained by criminal activity. In December 1988, the G-10's Basle Committee on Ban king Supervision issued a â€Å"statement of principles† with which the international banks of member states are expected to comply.These principles cover identifying customers, avoiding suspicious transactions, and cooperating with law enforcement agencies. In issuing these principles, the committee noted the risk to public confidence in banks, and thus to their stability, that can arise if they inadvertently become associated with money laundering. Over the past few years, the Basle Committee has moved more aggressively to promote sound supervisory standards worldwide.In close collaboration with many non-G-10 supervisory authorities, the Committee in 1997 developed a set of â€Å"Core Principles for Effective Banking Supervision†. Many important guidelines issued by Basle Committee for worldwide implementation for all banks among which, â€Å"Prevention of the Criminal Use of the Banking System for the Purpose of Money Laundering†, December 1988 â€Å"Custome r Due Diligence for Banks†, October 2001â€Å"Sound Practices for the Management and Supervision of Operational Risk â€Å", February 2003; Shell banks and booking offices â€Å", January 2003; relate to money laundering controls.In 1989, the G-7 countries recognized that money laundering had become a global problem, not least due to the increase in drug trafficking. The G-7 Summit in Paris in 1989 took a great step forward in combating international money laundering with the creation of the Financial Action Task Force (FATF) to develop a coordinated international response to mounting concern over money laundering. One of the first tasks of the FATF was to develop steps national governments should take to implement effective anti-money laundering programs.The experts within FATF came up with a list of 40 Recommendations, built on the firm foundations of the 1988 UN Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances and the Statement of Principl es of the Basle Committee on Banking Regulations. The FATF 40 Recommendations set out the basic framework on what countries need to do — in terms of laws, regulations and enforcement — to combat money laundering effectively and were designed with universal application in mind.Over time, they have been revised to reflect new developments in money laundering and experience. The 40 Recommendations have now become the global blueprint in anti- money laundering best practice and set the international standards for money laundering controls. Setting those standards meant that all participating governments committed to moving in the same direction at the same pace, a requirement for success. Through FATF's peer-review process, the participants have pushed each other into implementing the standards.Even the IMF regards the anti-money laundering actions advocated by the FATF as crucial for the smooth functioning of financial markets. In joining FATF, every member nation makes a political commitment to adopt the recommendations and allows itself to be evaluated by the other member nations on whether it has fulfilled that commitment. Today FATF has grown to an organization of thirty-one member countries and has representatives from the Gulf Cooperation Council and the European Commission.Participants include representatives from members' financial regulatory authorities, law enforcement agencies, and ministries of finance, justice, and external affairs. Representatives of international and regional organizations concerned with combating money laundering also attend FATF meetings as observers. This top-down, cooperative approach has been greatly successful in encouraging FATF member nations to improve their money laundering regimes. With expanded membership, FATF has now achieved agreement on money laundering standards and implementation among 31 governments.More than that, FATF has encouraged development of regional groups to adhere to the same standards. B y the last count, about 130 jurisdictions — representing about 85 percent of world population and about 90 to 95 percent of global economic output — have made political commitments to implementing â€Å"The Forty Recommendations. † Another, more controversial initiative that FATF has developed to enhance international cooperation is publication of a list of non-cooperative countries and territories (NCCT) — jurisdictions that lack a commitment to fight money laundering.Following the June 2000 publication of the first such list, a number of the 15 NCCT jurisdictions have acted quickly to implement FATF standards. . Other UN initiatives, such as the 2000 UN Convention against Transnational Organized Crime, have assisted in complementing the work undertaken by the FATF. However, it was the FATF’s exercise on Non-Cooperating Countries and Territories which brought about a sea change in thinking at the highest political levels.The exercise, which identi fies and evaluates the legal, judicial and regulatory framework of countries whose regulatory systems do not appear to meet international standards, has been a success, despite its unpopularity in many quarters. 1. 8. 16. After 11 September 2001, the tragedy in New York highlighted to all civilized nations the need to look at the finances of terrorists and the methods used to transfer funds around the11 world. The FATF expanded its mission beyond money laundering and agreed to focus its expertise on the worldwide effort to combat terrorist financing.The FATF, at its Washington meeting in October 2001, came up with 8 Special Recommendations to tackle this threat. Terrorists use similar systems to money launderers and the 8 Special Recommendations complement the 40 existing Recommendations. The United Kingdom was one of the first countries in the world to have signed and ratified the UN International Convention on the Suppression of the Financing of Terrorists through the Terrorism Ac t 2000. In fact the UK was unique in meeting the requirements of all 8 FATF Special Recommendations immediately.Several regional or international bodies such as the APG (Asia/Pacific Group on Money Laundering), CFATF (Caribbean Financial Action Task Force), the ESAAMLG (Eastern and Southern Africa Anti-Money Laundering Group), GAFISUD (Financial Action Task Force for South America), the MONEYVAL Committee of the Council of Europe (the Select Committee of experts on the evaluation of anti-money laundering measures) and the OGBS (Offshore Group of Banking Supervisors), either exclusively or as part of their work, perform similar tasks for their members as the FATF does for its own membership.Bangladesh is a member of APG. This co-operation forms a critical part of the FATF’s strategy to ensure that all countries in the world implement effective counter-measures against money laundering. Thus the APG, the CFATF, GAFISUD, the MONEYVAL Committee and OGBS carry out mutual evaluatio ns for their members, which assess the progress they have made in implementing the necessary anti-money laundering measures. In the same vein, APG, CFATF and the MONEYVAL also review regional money laundering trends.During the past decade, a number of countries have created specialized government agencies as part of their systems for dealing with the problem of money laundering. These entities are commonly referred to as â€Å"Financial Intelligence Units† or â€Å"FIUs†. These units increasingly serve as the focal point for national anti- money laundering programs because they provide the possibility of rapidly exchanging information (between financial institutions and law enforcement / prosecutorial authorities, as well as between jurisdictions), while protecting the interests of the innocent individuals contained in their data.Since 1995, another forum for international cooperation has developed among a number of national financial intelligence units (FIUs), who beg an working together in an informal organization known as the Egmont Group (named for the location of the first meeting in the Egmont-Arenberg Palace in Brussels). The goal of the group is to provide a forum for FIUs to improve support to their respective national anti-money laundering programs.This support includes expanding and systematizing the exchange of financial intelligence, improving expertise and capabilities of the personnel of such organizations, and fostering better communication among FIUs through the application of new technologies. The Egmont Secretariat, currently hosted by the UK, is the ideal vehicle for FIUs from various countries to talk to one another once they reach the required standard. Financial Crimes Enforcement Network (FinCEN), the U. S. inancial intelligence unit led by the Department of the Treasury, provides training and technical assistance to a broad spectrum of foreign government officials, financial regulators, law enforcement personnel, 12 and ba nkers. This training covers a variety of topics, including money laundering typologies, the creation and operation of FIUs, the establishment of comprehensive anti-money laundering regimes, computer systems architecture and operations, and country-specific antimoney- laundering regimes and regulations.FinCEN also works closely with the informal Egmont Group of more than 50 FIUs to assist various jurisdictions in establishing and operating their own FIUs. Additionally, FinCEN has provided FIU and money laundering briefings and training in many jurisdictions, including Argentina, Armenia, Australia, the Bahamas, Brazil, Canada, China, Costa Rica, Dominican Republic, El Salvador, Germany, Greece, Hong Kong, India, Indonesia, Isle of Man, Jamaica, Jersey, Kazakhstan, Lebanon, Italy, Liechtenstein, Nauru, Nigeria, Netherlands, Palau, Paraguay, Russia, Seychelles, South Africa, Switzerland, St.Vincent and the Grenadines, Taiwan, Tanzania, Thailand, Tonga, and the United Kingdom. FinCEN ha s also conducted personnel exchanges with the Korean and Belgian FIUs. The U. S. Department of State's Bureau for International Narcotics and Law Enforcement Affairs (INL) develops assistance programs to combat global money laundering. INL participates in and supports international anti-money- laundering bodies and provides policy recommendations regarding international money laundering activities.The U. S. State Department has developed a programmatic approach to assist jurisdictions in developing anti-money-laundering regimes to protect their economies and governments from abuse by financial criminals and stem the growth of international money laundering. This approach integrates training, technical assistance, and money laundering assessments on specific money laundering problems or deficiencies to achieve concrete, operational, institution-bui