Money laundering
Money laundering is the process used to hide the origin of money or assets acquired from illegal activities. Money is laundered through legitimate financial institutions; the money can be laundered by means of bank deposits, investments, or transfers from one place or person to another. The crimes that are associated with money laundering spans a variety of illegal events from drug trafficking and smuggling to fraud, extortion and corruption.
Economic and social implications
Money laundering has myriads of social and economic effect or implications on Jamaica. The economic implications that money laundering has on Jamaica, even though it may not seems so clear is that illegal activities damages the financial sector institution that are critical to growth of the economy, which reduces the productivity in an economy’s real sector by diverting resources and encouraging crime and corruption, which slow economic growth and distort external economic sector .The attributes of developing economy such as Jamaica, in particular, have been more exposed to the exploits of
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Section 3 subsection (1) A person shall be taken to engage in money laundering- (A) Engages in a transaction that involves property that is derived from the commission of a specified offence; or
(B) Acquires, possesses, uses, conceals, disguises, disposes of or brings into Jamaica, any such property; or
(C) converts or transfers that property or removes it from Jamaica, and the person knows, at the time he engages in the trans action referred to in paragraph (a) or at the time he does any act referred to in paragraph (b) or (c), that the property is derived or realized directly or indirectly from the commission of a specified offence.
Section (2) a person who, after the 5th of January, 1998 engages in money laundering is guilty of an offence and is
This includes identifying new industries and sectors that can provide jobs and economic opportunities for the people of the Virgin Islands. By diversifying the economy, it is expected that the territory will be better able to weather economic downturns and provide long-term economic stability for its
Asset forfeiture is a tool used by law enforcement at all levels. Money is a big player in most all criminal activities and is the motivation behind the scenes. By seizing the money you can slow down or stop some of the criminal activities. However money is not the only thing that is seized, many times automobiles, boats, and planes will seized as well other types of criminal tools. These items could also be houses land and/or anything connected to the crime or criminal activity.
When it comes to suspicious activity reporting included in Section 352 of the USAPATRIOT Act, “suspicious may not necessarily mean the same thing to all people”. “An activity that may seem suspicious to an auditor or examiner may not raise the same red flag with a community bank executive, or even another examiner”(Proctor, 2003, p.1). This causes a serious problem in the way institutions comply with the requirements of suspicious activity reporting. With that said, suspicious activity reporting forms the cornerstone of the anti-money laundering goals set out by the USAPATRIOT
State v. Deanna Conspiracy Oral or implied agreement between two or more to commit an unlawful act Alma found Deanna searching in the managers office. Deanna told Alma that she was looking for keys to the safe because she was looking for papers in the safe. Alma told her she didn’t believe her and that she would keep watch for her. Her actions indicate they are both aware and agree that Deanna is going to commit a crime.
There are two types of businessmen in this world, “Robber Barons” and “Captains of Industry”. “Robber Baron” is a idiom established during the United States Industrial Revolution of the 1800s. It is used to describe demeaning businessman that are wealthy industrialist, those who monopolize companies, and use unfair practices within their businesses. On the other hand “Captains of Industry” are positive businessman that contribute to the nation. For instance they provide jobs, increase productivity, expand the markets, and increase trade.
I wasn’t sure if I wanted to leave…. I grew up here for nine years since I was a baby, but the feeling of me leaving didn’t feel right. I didn’t really know what to utter to my dad I didn’t want to go. Jamaica was fun living their having childhood memories was the best and leaving them behind was never my idea. I remember when my dad left New York to come to Jamaica to prepare my paperwork….when we were standing in line
Today I will be talking about an amazing country named jamaica it is a talented country and we will be talking about how they say stuff and how they do stuff for the holidays. Speaking of holidays that is the word we are going to learn how to say in jamaica but other than that I will now tell you stuff about jamaica and this is interesting too. I will now tell you how my country celebrates the holidays instead of the holidays lasting one day they last two days in jamaica because they like their holidays long. Did you know that Christmas may start at 6 a.m and you go to church
Imperialists often profess to have an interest in the development of a people or state they intend to conquer. And sometimes there is indeed evidence of ‘development’, but the benefits to the imperialists are always disproportionately greater. The Region has its politico-economic genesis in the bowels of imperialism. The Region, consequently, has progressed or retrogressed within this very context of imperialism. Imperialism has condemned the Caribbean Region to ‘Third World’ status perpetually it seems.
White-collar crime is a financially motivated nonviolent crime committed by business and government professionals. The term “white-collar crime” was first used by criminologist Edwin Sutherland in 1939 for the various nonviolent crimes usually committed in commercial areas for financial gain. White-collar crimes are classified as fraud, bribery, Ponzi schemes, insider trading, labor racketeering, embezzlement, cybercrime, copyright infringement, money laundering, identity theft, and forgery. Even though these crimes are committed without the use of weapons or threats of physical violence, it does not mean that they don’t create victims as they might destroy a person life or a company’s life cycle.
Money laundering serves two purposes when it comes to terrorist activity. It conceals the illegal origin of the money and the illegal destination of the funds (Unger, 2013, p.21). Research has shown and experts agree the sale and trade of drugs is a sizeable financial contributor to terrorist organizations. For example, the Taliban profited from the trafficking of opium and taxing the drug in areas under its control. These funds were then used to support terrorist organizations like Al Qaeda (Unger, 2013, p.22).
What are the problematic conditions? Access The problematic condition in this area of examination is the lack of economic and physical access to food by most Jamaican household under normal circumstance. Household food security exists when all members, at all times, have access to adequate food that meets the dietary needs of all members of the household.
I will be explaining through the seven elements of crime whether illegal drug use, prostitution, and gambling fit the elements (Bohm & Haley, 2011). The seven elements of the crime are harm, legality, actus reus, mens rea, causation, concurrence, and punishment. Discuss in detail whether illegal drug use, prostitution, and gambling fit the seven elements of a crime from. Include in your discussion whether these three crimes should be considered mala in se or mala prohibita.
Introduction In the Caribbean, each territory has a unique social stratification systems which have been developed over the past centuries. This encouraged the people of these many cultures within the region to advance their social status - or his/her ‘social well-being,’ and the status of their family through the movement of social mobility. In this paper, it is my contention that social mobility is possible in the Caribbean since it allows persons to move in the social stratification system; secondly – to briefly address the current situation of social mobility within the Caribbean region, specifically in the countries of Trinidad and Tobago, Jamaica and Guyana. And finally, that social mobility has shaped better opportunities in the Caribbean.
The Caribbean is a place where most of the countries share the history. It is a history that is deeply embedded with loss and struggle. Over the course of history, the Caribbean has been through a lot of stages from slavery, colonialism come right down to independence and post-independence. With slavery, the blacks were introduced, then we have the Europeans and of course the Indians came with the indenture ship program. Since the Caribbean has such a diverse array of cultures and ethnic groups, it is expected that these groups will leave their own impact on the society as a whole.