Академический Документы
Профессиональный Документы
Культура Документы
1
Fraud ,Corruption and Society (1)
3
Fraud, Corruption and Society (3)
4
Economic Development & Poverty
Alleviation (1)
Recent history of economic development has
revealed that ‘Economic Development’ and ‘Poverty
Alleviation’ are not always concurrent. There could
distortions in theoretical ‘Trickle Down Effect’.
There had been instances where the results are
different. One of reason for this distortion is
‘corruption’ in the system that leads to
disproportion or inequitable flow of the results of
economic development .
7
National and International Agenda (1)
8
National and International Agenda (2)
9
National and International Agenda (3)
10
National and International Agenda (4)
Unfortunately till now only 30
country’s ratification has been
received for the ‘UN Convention
Against Corruption’ signed in Mexico
in December 2003. The report
prepared in New Zealand has provided
astonishing low level of awareness on
the convention among the business
community.
11
National and International Agenda (5)
13
National and International Agenda (6)
14
National and International Agenda (7)
16
Governance and Corruption (2)
17
Governance and Corruption (3)
18
Governance and Corruption (4)
Ingredients in designing anti-
corruption strategy includes:
22
Anti-money laundering
Regulation and implementation
(1)
Money laundering is defined as converting
criminal income into assets that cannot be
traced back to the underlying crime. It is
conventionally divided into three stages;
the placement of funds derived from
crime, the layering of those funds in order
to disguise their origins and the
integration of the funds into the
mainstream economy.
23
Anti-money laundering
Regulations and implementation
(2)
Anti-money laundering (AML) is an activity
which prevents or aims to prevent money
laundering from happening. Such activities
include introduction of a requirement for
the financial institution to identify their
customers, maintaining records of the
customers, cooperation with the law
enforcement agencies and training of the
staff with respect to laws etc the breach of
which result in money to be laundered.
24
Anti-money laundering
Regulations and implementation
(3)
Anti-money laundering strategy suffers from primary two
challenges:
a) Regulators Gaps:
No International Agency
Hedge Fund business and derivatives having
complex structures encouraging layers; etc.
b) Communication Gap:
Lack of feedback
25
Lack of publicity
Anti-money laundering
Regulations and implementation
(4)
26
Anti-money laundering
Regulations and implementation
(5)
This efforts mainly relates to financial institutions
and fiscal authorities. Nevertheless there are
serious issues with regard to the effectiveness of
the AML regulations; The conclusion derived by
one the Senior Partner of law firm are very
relevant:
29
Conclusion
Achievement of Millennium Development Goal requires
corruption free world.
Thank you
30