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Money Laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Most countries implement some anti-money-laundering measures. In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Office of the Comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money-laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is illegal; the acts generating the money almost always are themselves crime, criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating transnational crime, international crime and terrorism, money laundering has become a prominent political debate, political, economics, economic, and legal debate. Most countries implement some anti-money laundering, anti-money-laundering measures. In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Transaction
A financial transaction is an Contract, agreement, or communication, between a buyer and seller to exchange goods, Service (economics), services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. A financial transaction always involves one or more financial asset, most commonly money or another valuable item such as gold or silver. There are many types of financial transactions. The most common type, purchases, occur when a good, service, or other commodity is sold to a consumer in exchange for money. Most purchases are made with cash payments, including Cash, physical currency, debit cards, or cheques. The other main form of payment is credit, which gives immediate access to funds in exchange for repayment at a later date. History There is no evidence to support the theory that ancient civilizations worked on systems of barter. Instead, most historians believe that ancient cultures worked on princi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prohibition In The United States
The Prohibition era was the period from 1920 to 1933 when the United States prohibited the production, importation, transportation, and sale of alcoholic beverages. The alcohol industry was curtailed by a succession of state legislatures, and Prohibition was formally introduced nationwide under the Eighteenth Amendment to the United States Constitution, ratified on January 16, 1919. Prohibition ended with the ratification of the Twenty-first Amendment to the United States Constitution, Twenty-first Amendment, which repealed the Eighteenth Amendment on December 5, 1933. Led by Pietism, Pietistic Protestantism in the United States, Protestants, prohibitionists first attempted to end the trade in alcoholic drinks during the 19th century. They aimed to heal what they saw as an ill society beset by alcohol-related problems such as alcoholism, domestic violence, and Saloon bar, saloon-based political corruption. Many communities introduced alcohol bans in the late 19th and early 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law primarily developed through judicial decisions rather than statutes. Although common law may incorporate certain statutes, it is largely based on precedent—judicial rulings made in previous similar cases. The presiding judge determines which precedents to apply in deciding each new case. Common law is deeply rooted in Precedent, ''stare decisis'' ("to stand by things decided"), where courts follow precedents established by previous decisions. When a similar case has been resolved, courts typically align their reasoning with the precedent set in that decision. However, in a "case of first impression" with no precedent or clear legislative guidance, judges are empowered to resolve the issue and establish new precedent. The common law, so named because it was common to all the king's courts across England, originated in the practices of the courts of the English kings in the centuries fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mafia
"Mafia", as an informal or general term, is often used to describe criminal organizations that bear a strong similarity to the Sicilian Mafia, original Mafia in Sicily, to the Italian-American Mafia, or to other Organized crime in Italy, organized crime groups from Italy. The central activity of such an organization would be the arbitration of disputes between criminals, as well as the organization and enforcement of illicit agreements between criminals through violence. Mafias often engage in secondary activities such as gambling, loan sharking, Illegal drug trade, drug-trafficking, prostitution, and fraud. The term ''Mafia'' was originally applied to the Sicilian Mafia. Since then, the term has expanded to encompass other organizations of similar practices and objectives, e.g. "the Russian mafia" or "the Japanese mafia". The term was coined by the press and is informal; the criminal organizations themselves have their own names (e.g. the Sicilian Mafia and the related American ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Good
In economics, goods are anything that is good, usually in the sense that it provides welfare or utility to someone. Alan V. Deardorff, 2006. ''Terms Of Trade: Glossary of International Economics'', World Scientific. Online version: Deardorffs' Glossary of International Economics"good" an Goods can be contrasted with bads, i.e. things that provide negative value for users, like chores or waste. A bad lowers a consumer's overall welfare. Economics focuses on the study of economic goods, i.e. goods that are scarce; in other words, producing the good requires expending effort or resources. Economic goods contrast with free goods such as air, for which there is an unlimited supply.Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill. Goods are the result of the Secondary sector of the economy which involves the transformation of raw materials or intermediate goods into goods. Utility and characteristics of goods The change in utility (pleasu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
False Accounting
False accounting is a legal term for a type of fraud, considered a statutory offence in England and Wales, Northern Ireland and the Republic of Ireland. England and Wales This offence is created by section 17 of the Theft Act 1968 which provides: Section 17 replaces sections 82 and 83 of the Larceny Act 1861 and the Falsification of Accounts Act 1875. The words "dishonestly with a view to gain for himself or another or with intent to cause loss to another" are substituted in section 17 for the words "intent to defraud" in the former provisions. ;"Dishonestly" See Dishonesty. "Gain" and "loss" "Gain" and "loss" are defined bsection 34(2)(a)of the Theft Act 1968. ;Mode of trial and sentence This offence is triable either way. A person guilty of this offence is liable, on conviction on indictment, to imprisonment for a term not exceeding seven years, or on summary conviction to imprisonment for a term not exceeding six months, or to a fine not exceeding the prescribed sum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Evasion
Tax evasion or tax fraud is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income, profits or gains than the amounts actually earned, overstating deductions, bribing authorities and hiding money in secret locations. Tax evasion is an activity commonly associated with the informal economy. One measure of the extent of tax evasion (the "tax gap") is the amount of unreported income, which is the difference between the amount of income that the tax authority requests be reported and the actual amount reported. In contrast, tax avoidance is the legal use of tax laws to reduce one's tax burden. Both tax evasion and tax avoidance can be viewed as forms of tax noncompliance, as they describe a range of activities that intend to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Value
In economics, economic value is a measure of the benefit provided by a goods, good or service (economics), service to an Agent (economics), economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit. Economic value is generally measured through units of currency, and the interpretation is therefore "what is the maximum amount of money a person is willing and able to pay for a good or service?” Value for money is often expressed in comparative terms, such as "better", or "best value for money", but may also be expressed in absolute terms, such as where a deal does, or does not, offer value for money. Among the competing schools of economic theory there are differing Theory of value (economics), theories of value. Economic value is ''not'' the same as Price, market price, nor is economic value the same thing as market value. If a consumer is willing to buy a good, it implies tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
