Реферат: Untitled Essay Research Paper Financial Accounting For

perfectly respectable businesses but are not.The dirty proceeds of drugs trafficking alone throughout the world are estimated

to be around £500bn annually. £2bn each year is thought to be laundered

through Britain. Businesses must know their legal obligations and in particular

providers of financial services must be aware of the new rules they must

obey.Even though you can take effective steps to prevent hackers breaking into

your computers, financial crime often involves insiders. Even using the unique

features of a computer security system, you can only prevent fraud where

a person acts outside his authority. No system prevents a senior officer

with full system access walking off with money or records in his custody.

But now a threat is posed not only by the staff member setting out to steal

from you but also to staff members being susceptible to third party pressure

to use your bank to launder money – by doing nothing outside their normal

authority.Another major problem with the prevention of money laundering is that it

is now spread over an international network and this makes it very difficult

to control or regulate. One countries regulation may prevent/decrease money

laundering but will just drive it towards unregulated territories or economies

that have a vary relaxed attitude towards money laundering. E.g. In exchange

for a minimum $10m “subscription”, the Seychelle islands will grant diplomatic

status to “investors”, making them invulnerable to action by international

law enforcers. This clearly becomes a haven for drug barons and crime bosses,

where they can launder millions and escape prosecution.The world’s third largest industry continues to grow rapidly and uncontrollably.

Factors that affect this growth are the increasing emerging technologies,

international barriers being removed, improved communications networks and

last but not least individual/organisational greed that allows blind eyes

to be turned in order to keep revenue coming in.

Bibliography

Dirty Money

William C. GilmoreMoney Laundering – A practical guide to the new legislation

Rowan Bosworth-Davies and Graham SaltmarshCrooks paradise