Gatsby Assignment

The Great Gatsby Assignment Directions: * For each chapter (except Ch. 9), at least one of the three columns (Device – Passage – Connection to Meaning) is completed for you. Your job is to correctly and meaningfully complete any blank column. Passages should be directly cited and effectively chosen (Include page number[s]). * Each â€Å"Connection to Meaning† entry will require multiple, thoughtful sentences. * Each â€Å"Connection to Meaning† entry must include: (a) discussion of meaning in the immediate context of the device, and (b) discussion of meaning in the greater context of the novel.You are expected to complete the â€Å"a† portion of your discussion as soon as we read the chapter. You are expected to return to each completed â€Å"a† portion at the conclusion of the novel, as you attempt to find new insight and complete the â€Å"b† portion of your discussion (remember that Ch. 6 is your model for the third column, but your s should be 2-3 sentences longer and more developed). * Send me an email when you get home, and I will send you the assignment electronically. This way you can type the assignment and turn in a printed copy. My email is cecily. [email  protected] org * This is due Thursday, March 28 (TYPED! ) Chapter| Device/Strategy| Passage and page #| Connection to Meaning| 1| Juxtaposition| â€Å"There’s a bird on the lawn that I think must be a nightingale come over on the Cunard or White Star Line . He’s singing away,† her voice sang. â€Å"It’s romantic, isn’t it, Tom? † The telephone rang inside, startlingly, and as Daisy shook her head decisively at Tom the subject of the stables, in fact, all subjects vanished into air. (15)| | 2| | â€Å"But above the gray land and the spasms of bleak dust which drift endlessly over it, you perceive, after a moment, the eyes of Doctor T. J. Eckleburg. The eyes of Doctor T. J. Eckleburg are blue and giganticâ₠¬â€their retinas are one yard high. † (23)| | 3| Allusion (41)| | | 4| | â€Å"Yeah, Gatsby’s very careful about women. He would never so much as look at a friend’s wife. † (72)| | 5| Tone shiftTone #1Tone #2Tone #3Tone #4| | | 6| | | Jay Gatsby invents parents because he does not like what his mother and father represented.Gatsby is new money and is in opposition to the old money; new money was not respected since it was earned fast and quick and not inherited or used to raise and culture those it was passed down to. So, Gatsby â€Å"creates† the image that is needed in order to fit into the society in which Daisy belongs. He creates a perfect, omniscient heritage that only can be achieved by one according to Christianity, and he became the faithful servant to that image.This allowed him to achieve the status that only his â€Å"heavenly† Daisy could complete. | 7| (a) Logos (b) Ethos (c) PathosHint: You need to provide a clear example of e ach appeal in the argument to â€Å"win† Daisy. | | | 8| | â€Å"She was the first nice girl he had ever known. In various unrevealed capacities he had come in contact with such people, but always with indiscernible barbed wire. He found her excitingly desirable. † (148)| | 9| | | |

The Big Idea: How to Start an Entrepreneurial Revolution

In the latest Ease of Doing Business ranking from the World Bank, one country made a spectacular leap—from 143rd on the list to 67th. It was Rwanda, whose population and institutions had been decimated by genocide in the 1990s. On the World Bank list, Rwanda catapulted out of the neighborhood of Haiti, Liberia, and the West Bank and Gaza, and sailed past Italy, the Czech Republic, Turkey, and Poland. On one subindex in the study, the ease of opening a new business, Rwanda ranked 11th worldwide. You can see and even smell the signs of Rwanda’s business revolution at Costco, one of the retail world’s most demanding trade customers, where pungent coffee grown by the nation’s small farmer-entrepreneurs is stocked on the shelves. And in Rwanda itself the evidence is dramatic—per capita GDP has almost quadrupled since 1995. [pic] Rwanda: From Genocide to Costco’s Shelves This is the kind of change entrepreneurship can bring to a country. As Rwanda’s president, Paul Kagame, put it recently, â€Å"Entrepreneurship is the most sure way of development.† He is not a lone voice: Economic studies from around the globe consistently link entrepreneurship, particularly the fast-growth variety, with rapid job creation, GDP growth, and long-term productivity increases. You’ll see more palpable evidence of surprising entrepreneurial success stories on the Costco shelves. A few steps away from the Rwandan coffee, you can find fresh fish from Chile, which now ranks second only to Norway as a supplier of salmon. The Chilean fish in America’s supermarkets were supplied by hundreds of new fishing-related ventures spawned in the 1980s and 1990s. A few aisles over are memory USBs invented and manufactured in Israel, a country whose irrepressible entrepreneurs have been supplying innovative technologies to the world since the 1970s. And just around the corner, the Costco pharmacy sells generic drugs made by Iceland’s Actavis, whose meteoric rise landed it, in just 10 years, among the top five global generics leaders. Rwanda, Chile, Israel, and Iceland all are fertile ground for entrepreneurship—thanks in no small part to the efforts of their governments. Though the companies behind the products on Costco’s shelves were launched by innovative entrepreneurs, those businesses were all aided, either directly or indirectly, by government leaders who helped build environments that nurture and sustain entrepreneurship. These entrepreneurship ecosystems have become a kind of holy grail for governments around the world—in both emerging and developed countries. Unfortunately, many governments take a misguided approach to building entrepreneurship ecosystems. They pursue some unattainable ideal of an ecosystem and look to economies that are completely unlike theirs for best practices. But increasingly, the most effective practices come from remote corners of the earth, where resources—as well as legal frameworks, transparent governance, and democratic values—may be scarce. In these places entrepreneurship has a completely new face. The new practices are emerging murkily and by trial and error. This messiness should not deter leaders—there’s too much at stake. Governments need to exploit all available experience and commit to ongoing experimentation. They must follow an incomplete and ever-changing set of prescriptions and relentlessly review and refine them. The alternatives—taking decades to devise a model set of guidelines, acting randomly, or doing nothing—all are unacceptable. But the government cannot do everything on its own; the private and nonprofit sectors too must shoulder some responsibility. In numerous instances corporate executives, family-business owners, universities, professional organizations, foundations, labor organizations, financiers, and, of course, entrepreneurs themselves have initiated and even financed entrepreneurship education, conferences, research, and policy advocacy. As we shall show later in this article, sometimes private initiative makes it easier for governments to act more quickly and effectively, and all stakeholders—government and otherwise—should take every chance to show real leadership. To make progress, leaders need practical if imperfect maps and navigational guidelines. From what we know from both research and practice, here’s what seems to actually work in stimulating thriving entrepreneurship ecosystems. Nine Prescriptions for Creating an Entrepreneurship Ecosystem The entrepreneurship ecosystem consists of a set of individual elements—such as leadership, culture, capital markets, and open-minded customers—that combine in complex ways. (See the exhibit â€Å"Do You Have a Strong Entrepreneurship Ecosystem?†) In isolation, each is conducive to entrepreneurship but insufficient to sustain it. That’s where many governmental efforts go wrong—they address only one or two elements. Together, however, these elements turbocharge venture creation and growth. When integrating them into one holistic system, government leaders should focus on these nine key principles. [pic] Do You Have a Strong Entrepreneurship Ecosystem? 1: Stop Emulating Silicon Valley. The nearly universal ambition of becoming another Silicon Valley sets governments up for frustration and failure. There is little argument that Silicon Valley is the â€Å"gold standard† entrepreneurship ecosystem, home to game-changing giants such as Intel, Oracle, Google, eBay, and Apple. The Valley has it all: technology, money, talent, a critical mass of ventures, and a culture that encourages collaborative innovation and tolerates failure. So it is understandable when public leaders throughout the world point to California and say, â€Å"I want that.† Yet, Valley envy is a poor guide for three reasons. One is that, ironically, even Silicon Valley could not become itself today if it tried. Its ecosystem evolved under a unique set of circumstances: a strong local aerospace industry, the open California culture, Stanford University’s supportive relationships with industry, a mother lode of invention from Fairchild Semiconductor, a liberal immigration policy toward doctoral students, and pure luck, among other things. All those factors set off a chaotic evolution that defies definitive determination of cause and effect. Further, Silicon Valley is fed by an overabundance of technology and technical expertise. Developing â€Å"knowledge-based industry†Ã¢â‚¬â€the mantra of governments everywhere—is an admirable aspiration, but achieving it requires a massive, generation-long investment in education as well as the ability to develop world-class intellectual property. On top of that, a knowledge industry demands an enormous technology pipeline and scrap pile. Consider that top venture capitalists invest in at best 1% of the technology-based businesses they look at, and a significant proportion of that select group fails. A third limit is that although Silicon Valley sounds as if it’s a place that breeds local ventures, in reality it’s as much a powerful magnet for ready-made entrepreneurs, who flock there from around the globe, often forming their own ethnic subcultures and organizations in what Gordon Moore, one of the Valley’s graybeards, calls an â€Å"industry of transplants.† And difficult as it is to foster an ecosystem that encourages current inhabitants to make the entrepreneurial choice and then succeed at it, it is even harder to create an entrepreneur’s â€Å"Mecca.† 2: Shape the Ecosystem Around Local Conditions. If not Silicon Valley, then what entrepreneurial vision should government leaders aspire to? The most difficult, yet crucial, thing for a government is to tailor the suit to fit its own local entrepreneurship dimensions, style, and The striking dissimilarities of Rwanda, Chile, Israel, and Iceland illustrate the principle that leaders can and must foster homegrown solutions—ones based on the realities of their own circumstances, be they natural resources, geographic location, or culture. Rwanda’s government took a strongly interventionist strategy in the postgenocide years, identifying three local industries (coffee, tea, and tourism) that had proven potential for development. It actively organized the institutions that would support those industries by, for example, training farmers to grow and package coffee to international standards and connecting them to overseas distribution channels. Rwanda’s immediate priority was to provide gainful employment to millions of people. Its efforts led to about 72,000 new ventures, almost entirely consisting of two- and three-person operations, which in a decade tripled exports and reduced poverty by 25%. Chile also focused on industries where it had copious natural resources—such as fishing. As in Rwanda, the government took a powerfully interventionist approach to its entrepreneurship ecosystem in Augusto Pinochet’s early years, and the dictator’s free-market ideology made it easier for Chile’s middle class to obtain financing and licenses for fishing operations. The government also weakened labor (sometimes brutally) to reduce new ventures’ input costs and kept Chile’s currency inexpensive to maintain competitiveness in export markets. Natural resources often are not a key component of an ecosystem, however. Frequently, entrepreneurship is stimulated when such resources are scarce, requiring people to be more inventive. Taiwan, Iceland, Ireland, and New Zealand, resource-poor â€Å"islands† far from major markets, all developed ecosystems based primarily on human capital. So did Israel. In the 1970s and 1980s, its unique ecosystem evolved haphazardly out of a combination of factors, including spillover from large military R&D efforts, strong diaspora connections to capital and customers, and a culture that prized frugality, education, and unconventional wisdom. 3: Engage the Private Sector from the Start. Government cannot build ecosystems alone. Only the private sector has the motivation and perspective to develop self-sustaining, profit-driven markets. For this reason, government must involve the private sector early and let it keep or acquire a significant stake in the ecosystem’s success. Start with a candid conversation. One way to involve the private sector is to reach out to its representatives for early, frank advice in reducing structural barriers and formulating entrepreneur-friendly policies and programs. If the necessary expertise doesn’t exist domestically, it can often be found overseas among expatriates. In the 1980s the Taiwanese government engaged with the Taiwanese diaspora, consulting prominent executives in leading U.S. technology companies and establishing ongoing forums to collect their input. The government actually built programs based on the suggestions of these expats, who liked how their ideas were implemented so much that they returned home in droves in the 1990s, many of them to occupy prominent policy positions or run the new plants that were established. For example, Morris Chang, the former group vice president of Texas Instruments, came home and eventually set up and ran TSMC, Taiwan’s second semiconductor-fabricating plant. Taiwan: Bringing Expat Entrepreneurs Home Design in self-liquidation. In 1993 the Israeli government created Yozma, a $100 million fund of funds that in three years spawned 10 venture capital funds. In each one, Yozma, an Israeli private partner, and a foreign private partner with proven fund management expertise all invested approximately equal amounts. From the start, the Israeli government gave the private sector partners an option to buy out its interest in the funds at attractive terms—a fact often overlooked by other governments that copy the Yozma model. That option was exercised by eight of the 10 funds, profitably for the government, I might add. Five years after the founding of Yozma, its remaining assets were liquidated by auction. The government’s exit served as market proof that real value had been generated and is one of the reasons that the Israeli venture capital industry not only became self-sustaining but simultaneously achieved a quantum leap in growth. 4: Favor the High Potentials. Many programs in emerging economies spread scarce resources among quantities of bottom-of-the-pyramid ventures. And indeed, some of them, such as the Carvajal Foundation in Cali, Colombia, have dramatically increased income for segments of the population. But focusing resources there to the exclusion of high-potential ventures is a crucial mistake. In an era when microfinance for small-scale entrepreneurs has become mainstream, the reallocation of resources to support high-potential entrepreneurs may seem elitist and inequitable. But especially if resources are limited, programs should try to focus first on ambitious, growth-oriented entrepreneurs who address large potential markets. The social economics of high-potential ventures and small-scale employment alternatives are significantly different. Whereas 500 microfinanced sole proprietorships and one rapidly globalizing 500-person operation create the same number of jobs, many experts argue that the wealth creation, power to inspire other start-ups, labor force enrichment, and reputational value are much greater with the latter. One organization that recognizes this is Enterprise Ireland, an agency responsible for supporting the growth of world-class Irish companies. It has created a program specifically to provide mentoring and financial assistance to high-potential start-ups, which it defines as ventures that are export-oriented, are based on innovative technology, and can generate at least â‚ ¬1 million in sales and 10 jobs in three years. The global nonprofit Endeavor, which focuses on entrepreneurship development in 10 emerging economies, has to date â€Å"adopted† some 440 â€Å"high-impact entrepreneurs,† who, with Endeavor’s mentoring, are turning their successes into role models for their countrymen. Not all high-potential ventures are technology based; in fact, I’d argue that the majority are not. SABIS is a perfect example. An educational management organization founded in Lebanon many years ago as one school, SABIS now is one of the world’s largest EMOs, teaching more than 65,000 students in 15 countries, with the goal of reaching 5 million students by 2020. 5: Get a Big Win on the Board. It has become clear in recent years that even one success can have a surprisingly stimulating effect on an entrepreneurship ecosystem—by igniting the imagination of the public and inspiring imitators. I call this effect the â€Å"law of small numbers.† Skype’s adoption by millions and eventual $2.6 billion sale to eBay reverberated throughout the small nation of Estonia, encouraging highly trained technical people to start their own companies. In China, Baidu’s market share and worldwide recognition have inspired an entire generation of new entrepreneurs. Celtel’s amazing success as sub-Saharan Africa’s leading regional mobile provider and acquisition by Zain for more than $3 billion stirred the region’s pride and helped African governments fight â€Å"Africa fright† among investors. In Ireland it was Elan Corporation and Iona Technologies, listed on Nasdaq in 1984 and 1997, respectively, that served as guiding lights to a gener ation of budding entrepreneurs. Sub-Saharan Africa: Building Shareholder Value—and Better Government Early, visible successes help reduce the perception of entrepreneurial barriers and risks, and highlight the tangible rewards. Even modest successes can have an impact. Saudi Arabia, a nation with a dearth of entrepreneurial ventures (aside from the powerful family business groups), is fighting hard to tear down the numerous structural and cultural obstacles entrepreneurs face. One young Saudi, Abdullah Al-Munif, left his salaried job, tightened his belt, fought the bureaucracy, and started a business making chocolate-covered dates. He ultimately grew the business, Anoosh, into a national chain of 10 high street stores and turned an eye to overseas markets. Now when Al-Munif appears as a panelist at entrepreneurship seminars, he is swamped by aspiring Saudi entrepreneurs who take inspiration from his bravery, realizing that neither capital, nor technology, nor connections are essential to success. Overcelebrate the successes. Governments should be bold about celebrating thriving entrepreneurial ventures. Media events, highly publicized awards, and touts in government literature, speeches, and interviews all have an impact. This is not as straightforward as it may seem, because many cultures discourage any public display of success as boastful or an invitation to either bad luck or the tax collector. Whereas in Hong Kong even small-scale entrepreneurs drive black Mercedes to project their status, in the Middle East flaunting one’s success publicly can attract the envy of neighbors or, worse, the evil eye. Kenya’s first international call center, KenCall, founded by Nicholas Nesbitt and two partners in 2004, built an international presence by overcoming many bureaucratic and structural barriers, including the lack of a high-speed optical fiber hookup to the international communications grid. The Kenyan government didn’t wait until KenCall became big to sing its praises; even when it was a fledgling operation, the government brought in foreign delegations for visits, promoted the company in official publications and press releases, and hosted an international outsourcing conference. Government officials also used KenCall’s example to push for reforms, which expedited the construction of East Africa’s first undersea optical fiber link—an example of how entrepreneurial success can facilitate structural change, not just the other way around. 6: Tackle Cultural Change Head-On. Changing a deeply ingrained culture is enormously difficult, but both Ireland and Chile demonstrate that it is possible to alter social norms about entrepreneurship in less than a generation. Until the 1980s employment in government, financial services, or agriculture was the main aspiration of Ireland’s young people. There was zero tolerance for loan defaults, and bankruptcy was stigmatized. Parents discouraged their children from setting out on their own, so few nurtured dreams of starting their own business. But by the 1990s, after successful pioneers paved the way, hundreds of new software companies had been launched in Ireland. Some exported products; some went public. Many achieved healthy sales revenues. Just as important, entrepreneurs learned that it was possible to fail and regroup to try again. â€Å"If you wanted to be respected and taken seriously, you needed to be a founder with a stake in a company trying to do something,† recalls Barry Murphy, who was national software director at Enterprise Ireland’s predecessor in the 1990s. In her research, University of Minnesota professor Rachel Schurman has described how Chileans’ negative image of entrepreneurs as greedy exploiters was transformed in just one decade, as a direct result of the Chilean government’s concerted effort to liberalize Chile’s economy. Until the 1980s, Chile’s well-educated middle class wasn’t entrepreneurial, avoided opportunity-driven investment, and preferred to consume rather than save and invest. But by the 1990s, Chile’s new middle-class entrepreneurs were telling Schurman: â€Å"Today the youth, everybody, wants to be an entrepreneur. If a successful empresario is interviewed in the newspaper, everybody reads it. Why was he successful? How did he do it? It’s a model that never existed before†¦.† The media can play an important role not just in celebrating wins but in changing attitudes. In Puerto Rico, El Nuevo Dà ­a, the largest daily newspaper, supported local entrepreneurship by running a weekly page of start-up success stories. On the small island, these stories have quickly become part of the social dialogue and have raised awareness about the opportunities entrepreneurship presents, as well as the tools it requires. 7: Stress the Roots. It’s a mistake to flood even high-potential entrepreneurs with easy money: More is not necessarily merrier. New ventures must be exposed early to the rigors of the market. Just as grape growers withhold water from their vines to extend their root systems and make their grapes produce more-concentrated flavor, governments should â€Å"stress the roots† of new ventures by meting out money carefully, to ensure that entrepreneurs develop toughness and resourcefulness. Such measures also help weed out opportunists. In 2006 Malaysia’s Ministry of Entrepreneur and Cooperative Development awarded 90% of some 21,000 applicants about $5,000 each in business support, strong evidence of the government’s commitment to entrepreneurship. The program was part of an affirmative action program largely aimed at indigenous Malays, who were less entrepreneurial than the country’s business-minded Chinese immigrants. Yet Malay entrepreneurs themselves attribute the disappointing results partly to the fact that funding was too loose and even stigmatized the Malay recipients as less capable. More broadly, Malaysian entrepreneurship-development programs, considered by many, including myself, to be among the most comprehensive programs in the world, have been criticized for actually inhibiting entrepreneurship among the Malays by unwittingly reinforcing their lack of risk taking. Similarly, recent reports on South Africa’s Black Economic Empowerment program have reached the conclusion that BEE has discouraged entrepreneurship among the bulk of black South Africans and has benefited primarily the elite and well-connected. In fact, the hardships of resource-scarce, even hostile, environments often promote entrepreneurial resourcefulness. New Zealanders call Kiwi ingenuity â€Å"number 8 wire†: In the country’s colonial days, the only plentiful resource was 8-gauge fencing wire, and New Zealanders learned to fix and make anything with it. Icelandic entrepreneurship is built upon a legacy of â€Å"fishing when the fish are there, not when the weather is good.† For years incubators or entrepreneurship centers that provide financial help, mentoring, and often space to start-ups have been popular with governments. But I have seen scant rigorous evidence that these expensive programs contribute commensurately to entrepreneurship. One municipality in Latin America established 30 small incubators, but after several years only one venture out of more than 500 assisted by them had reached annual sales of $1 million. Though Israel’s renowned incubator program has helped launch more than 1,300 new ventures, relatively few of them have been big entrepreneurial successes. On the basis of my discussions with Israeli officials, I estimate that, among the hundreds of Israeli ventures that have been acquired at hefty valuations or taken public, at best 5% were hatched in incubators. And incubators definitely are not a quick fix. When well conceived and well managed, they can take 20 years or longer to generate a measurable impact on entrepreneurship. Poorly conceived and managed, they can be white elephants.

Outline of Financial Fraud by Bernie Madoff Essay

Outline of Financial Fraud by Bernie Madoff - Essay Example The fraud crime committed by Bernie Madoff remains the biggest fraud crime ever committed by anyone. It was beyond anybody’s imagination that a single person could trick so many intelligent and smart investors. Mr Madoff’s Ponzi scheme involved fraud of $65 billion, making a huge impact on the areas of the financial services industry. This was an example of a Ponzi scheme. A Ponzi scheme refers to the idea of using the new money to pay off old investors (Brigham & Ehrhardt 2013, p.265). Even though Mr Madoff was later on arrested in 2008 and is currently serving his 150-year imprisonment sentence, investors are still afraid of a recurrence of such a fraudulent scheme. Questions without answers continue streaming onto how even his close family members like his wife and two sons were unable to detect his fraudulent means. Madoff claimed that he carried out the fraud by himself, but there was a total of five others who had pleaded guilty to criminal charges by December 201 1 (Giles 2012, p.10). The Ponzi scheme like the one by Bernie Madoff was perpetrated based on the theory of rational expectations, mainly built on trust. His massive investment fraud was as a result of the trust investors had on him, built on his success in the Wall Street. It is common for general to rely on the judgements of others when making their investment decisions. Madoff would, for instance, use the word of mouth to popularise his investment ventures. For years, he had been a well-respected figure in the investment community. The success of his fraud could, therefore, be attributed to trust many people had on him. He used the many people who trusted him, so as to gain the trust of others. A small amount of initial trust grew into a large amount of trust, even though most of the trust was based on the little first-hand information. Instead of scrutinizing the primary source materials behind his venture, the investors tended to rely on the identities and the reputations of those who already trusted Madoff.     

Writing Assignment 1 Essay Example | Topics and Well Written Essays - 500 words

Writing Assignment 1 - Essay Example This is because terrorists are not strange to use, but live and reside with us within our homes and neighborhoods. In addition, the people who harbor these terrorists are the ones that receive the first blow in case these terrorists attack. Therefore, this program targets at encouraging the general public to partner with the police and other security agencies by reporting any suspicious characters within their community, resident, or towns to the security agency. The program dubbed â€Å"If You See Something, See something,† is a program from the Department of Homeland Security (DHS) geared to raise public awareness on the indicators of terrorism and any other terrorism-related crime, as well as emphasizing the importance of reporting any suspicious activities to the appropriate state and local law enforcement authorities. This program is in line with the mission of the DHS, which is to protect the country against any terrorism attack following the 9/11 terror attack on American soil (Kumamoto 45). Therefore, the DHS is best suited to undertake this program by enlightening the public about all terror related crimes or activities in an effort to bring the public into the prevention program of terrorism within the United States. This is because it is not possible for the state policing agencies to be at all places in the country at all the time. As such, public knowledge and public awareness on terrorism enables Americans to take part a ctively in the efforts of the DHS to maintain security within the country. This is a new program launched by the DHS to prevent terrorism within the country by putting every responsible citizen on high alert over the presence of a terror threat within his community or neighborhood to protect the country. This program is very effective in solving terrorism as it enables the general public to identify and play an imperative role in the prevention terrorism, which we all have to accept that it is a big headache to the

Critically appraise the impact that transformational leadership can Assignment

Critically appraise the impact that transformational leadership can have on organizations and society - Assignment Example Transactional leaders work within and with the rules and norms that already exist in the organization, while transformational leaders in comparison are those who ‘transform’ their organizational culture and align it with values and norms that are essential to be more effective. Transformational leaders have been characterized as having four components; idealized influence, inspirational motivation, intellectual stimulation and individualized consideration. Transformational leaders use these four tools to transform their organizational culture into one that is most conducive to growth and advancement. Transformational leaders who work thus, and exhibit a sense of vision and purpose are more likely to be found in organizations that cherish innovation and progress. They align their subordinates with the goals of the organization and its culture and are most likely to foster creativity than support a culture with a status quo (Bass 1991; Gardiner 2006). Organizational cultur e and leadership will forever remain interconnected. Leaders are the ones who develop the organization’s culture and strengthen its norms and beliefs. The culture thus takes shape according to what the leader concentrates on, and this is what the subordinates are taught to follow by their leaders. But it is not only the leader who affects culture, organization cultures are often as impacting of their leaders as well. For example, it can influence how decision making is done by top management regarding concerns like hiring new employees and placing them within the organization etcetera. In accordance with the evolutionary process of an organization, the leader must change the culture to suit the organization’s needs. In order to maintain change while incurring the least resistance, the leader must not completely let go of the initial culture. The past should be referred back to for inspiration and the understanding of core strategies that must be maintained in the futur e. Changes should however, reinforce innovation so that the organizational culture is aligned for present and future need (Gardner, J. 1990; Avolio et al 1991). Organizational culture styles can also be categorized into two separate categories, according to the leadership style of the leader at the helm of the organization. Theoretically, if the leader is transactional, then the culture is also transactional and if the leader is transformational, then the culture is also transformational (Gardner, J. 1990). However, in reality organizational cultures posses some aspects of both types of cultures and the trick really, is to make a conscious movie towards a transformational culture by incorporating more and more transformational aspects while still maintaining the much needed structural transactional aspects (Simola et al 2010). A transformational culture can be characterized by a sense of purpose and unity. In such cultures, commitments are made for the longer run. The top management and the consequent subordinate levels have a certain level of interdependence and mutual goals. In such cultures, management goes beyond what is required to further their self interest to do what is good for the collective wellbeing of the organization. Top management acts as mentors for subordinate management levels, the norms are flexible and adapt to the changes in the organization’s external environment and due importance is given to the organization’

Gun Control in the United States Research Paper

Gun Control in the United States - Research Paper Example In short, more thorough background checks of those people who wish to buy guns is a necessity for stricter gun control due to the increased level of crimes involving guns in our communities. However, as DeConde (2001) notes, ‘no social issue of recent decades has produced more distorted data and contention among Americans than the struggle to control gun violence’ (p. 3), and so the issue is far from simple. There are well over 200 million guns in the United States (far more than in other developed countries) while the gun laws are comparatively weak. Canter ( 2006) found that when the US is compared to other economically-developed and democratically-governed countries, the age-adjusted rate of death by firearms is eight times as high as the average of the other countries pooled together. It is obvious that current background checks are not good enough. The massacre at Virginia Tech in April 2007, which left 32 staff and students dead, was carried out using two weapons, both of which was purchased completely legally at local stores. The killer had, two years earlier, been declared mentally ill and a danger to himself by a judge. This alone should surely have disqualified him from purchasing firearms, but he was never placed on a list banning him from buying guns in Virginia. The issue here was surely the vastly-different state laws on gun controls. What is needed is strong national laws, and checks conducted using nationwide databases. Fig. 1. The Geography of Gun Deaths in America. Source: atangledweb.org [Accessed January 27 2011] Background checks as a feature of the gun control debates in the United States date all the way back to the 1930s, when the District of Columbia introduced a 48-hour cooling off period for the purchase of firearms. Indeed, until the 1970s, the National Rifle Assocation (NRA) – the leading group in the pro-gun lobby, actually supported such policies. From 1986, there was a nationwide campaign for the introduction of a waiting period on all gun purchases, and in 1993, the passage of the Brady Handgun Violence Prevention Act established a 5-day waiting period, during which time background checks were to be conducted to ascertain whether a gun could responsibly be sold to the applicant. Spitzer (2002) produced a list of the reasons for which a gun purchase could be blocked: if the applicant had been convicted of a crime carrying a sentence of more than a year, if a restraining order had been placed against them for violence, if they had been convicted of domestic abuse, if they had been arrested for using or selling banned substances, if they were deemed to be mentally unstable, or if they were an illegal alien (p. 51).The Brady Act is held to have had some effect on firearm-related violence. Canter (2006) noted that the number of deaths by guns fell from 37,776 in 1992 to 32,436 in 1997 (p. 3). Nevertheless, this can scarcely be hailed as the major breakthrough in tackling gun crime which is n eeded in the United States. While the Supreme Court struck down the requirement for police to conduct background checks in 1997, handgun background checks have largely continued. In theory, all this should have done much to ensure that only those who could safely be sold a handgun would be able to procure one. However, there have been major issues. In 1998, the Federal Bureau of Investigation (FBI) set up its National Instant Criminal Background

Decision Making Assessment (Synthesis) Essay Example | Topics and Well Written Essays - 500 words

Decision Making Assessment (Synthesis) - Essay Example The study deals in focusing on the decision making concept with reference to U.S. Army Corps of Engineers. Frame is defined as â€Å"the structural core of the paradigmatic mental model that brings to a problem† (Johnson & Russo, 1994, p. 290). In simple terms decision making frames creates its own ideas and focuses on the environment. By ideas it is meant that the environmental issues should be considered that are affected by the decision (Johnson & Russo, 1994, p. 290). U.S. Army Corps of Engineers considers environmental sustainability as their key principle. The Corp team diligently works to strengthen the security of the nation by developing and preserving the infrastructure of America and offering military facilities (About us, n.d.). Any type of decision making is backed by reasoning. A bad decision comes from distortion and biases, which creates a series of mental flaws and obstructs the sense of reasoning. So before coming to any decision reasoning should be done properly (The Hidden Traps in Decision Making, n.d.). Behind any decision taken by the organization, the main reason is to â€Å"strengthen the security system, energize the economy and reduce the risks from disasters† (Mission & Vision, n.d.). For this reason a group of trained individual is continuously working to provide innovative and sustainable solutions (Mission & Vision, n.d.). Declarative knowledge in decision making gives importance to the ordering of attributes and relative desirability of various levels within the attributes that are required to implement the strategy. Thus the experience and expertise of a decision maker is bound to be affected by the declarative and procedural memory in following a plan (Goldstain & Weber, 1995, p.116). U.S. Army Corps of Engineers always transform the ways they do their business based on the Campaign Plan. A set of experienced, trained and certified workers, work as per

Based on your research and experience critically assess how values and Essay

Based on your research and experience critically assess how values and beliefs have changed in Britain over the last century. An - Essay Example These words by one of Britain’s most influential and famous statesmen certainly echo the central themes of this essay. On no level more so than the values and beliefs of the British people has the nature of the United Kingdom changed during the course of the last century. The effect these changes have had will certainly manifest currently, and continue to affect contemporary the youth in the 21st Century, in varied and significant ways. At the turn of the last century, as the world moved into the 1900s, Britain and her Empire stood at the forefront of the world, dominating culture, belief systems, education and politics across the globe. It seemed that the historic continuity of the kingdom would last forever. And throughout this history, Britain was part of Europe, sometimes at war with countries on the continent, sometimes in alliance with them, but always connected to them, perhaps due to proximity. But is has also been due to the close bonds that Britain and the British pe ople have had with European values and beliefs, particularly those of Western Europe, that these ties have remained. And certainly throughout the last century, Britain has been the defender of the values and beliefs of Western Europe (Thatcher, 1988). ... Importantly this system also derived from European influence and philosophical thought. Throughout, Britain has recognised the personal liberty of the individual, and a human rights culture, based on responsibility and duty to the collective, rather than personal gain exclusively (ibid). The religion of Britain and the European continent at large, Christianity, has consistently informed the value systems of Britons, leading to particular set of morals to inform behaviour that is considered acceptable or unacceptable (ibid). Defending this ideal of behaviour, government and civilization has at least twice forced Britain into taking the lead in successive world wars: In both World War I and II, the kingdom did not hesitate to stand up to the forces of autocracy and fascism, respectively, and risk all in defending the democratic rights of its own citizens, as well as the rights of all free peoples to remain free (The Staff of the New York Times, 1965). Continually, though, Britain has a sserted its sovereignty, interacting with Europe and the rest of the world, yet remaining defensive of its own culture, values and civilization. The perception that Britain was leading the world certainly rang true at the beginning of the 1900s, and continued to be valid for at least the first half of that century. It was never in doubt that the British way of life was enviable, defensible and something to be proud of for most Britons. As the Empire declined, and the 20th Century drew to a close, though, both Britons’ own opinions, and world opinion was that the United Kingdom was no longer a world super-power. Perhaps this is in part the explanation

Tort Law Case Study Example | Topics and Well Written Essays - 750 words

Tort Law - Case Study Example ‘ACE sports’, as the organisation, was responsible for building the brand new backboard and rim in the school playground where the accident took place. It can be ascertained as one of the potentially liable entities in this scenario as depicted a significant extent of negligence in preparing the backboard and especially rim. The rim had small loose metal prices which can be a result of a lack of focus on product quality by the company. It should have given top priority towards ensuring and building a safe and a secure sporting arena. Also, the topmost priority should have been given to the fact that all those athletes (mainly school students) who were involved in this activity were needed to be assured of proper first aid facilities in the arena itself. Moreover, the surgeon and the nurse had made contributions in Bobby’s surgery but they could have assisted Booby in a better manner. Based on the provided instance, it seemed that the surgery was completed in such a hurry that it got declared that by mistake Bobby’s left wrist got amputated instead of his right. Consequently, it is found that in order to address the scenario an additional corrective surgery took place which resulted in Bobby losing his both wrists. This scenario refers to severe negligence from the part of doctors as in such a critical medical exigency the concerned authorities depicted a lack of focus towards their work which became fatal for an innocent individual Bobby. Also, the nurse who assisted Bobby seemed to perform those activities that did not make much of a sense. The nurse told Bobby to put pressure on his wounds that do not seem appropriate at all. Moreover, there was huge gap that seemed to exist from the part of City General hospital as it did not seem to comply with basic medical standards. The hospital did not provide medical services to Bobby as he was running out of finance and during the time of emergency, Bobby’s mother did not receive any kind of response from the insurance agencies as well (Smith, 2009). Occurrences of these events ended up in Bobby getting refused in terms of receiving proper treatment at the City General hospital and he had to be shifted to a local country facility for undergoing treatment in an urgent basis (Lafferty, 2008; Statsky, 2011). Elements of Negligence There are essentially four elements of negligence that seem to reflect from the part of the healthcare professionals: Duty: The first and foremost aspect in a healthcare unit is to perform one’s duty in an orderly and appropriate manner. If anyone is found to be not complying with the medical standards in performing his/her basic duties then it can result in negligence (Okrent, 2009; Statsky, 2011). Breach: These aspects are considered to take place when one does not seem to obey the medical or industrial standards and comply with the basic rules (Statsky, 2011). Causation: It is an act which generally reflects inappropriate behavi or from the part of the medial care unit that results in causing harm to the patients who undergo treatment (Statsky, 2011). Damage: Damage is a very serious element of negligence which brings about harm to a patient in the matters associated with health and safety (Statsky, 2011). All the elements of negligence apply to ACE Sports, the nurse, the surgeon and City General as all of them were found to be involved in activities that greatly

Police Abuse Essay Example for Free

Police Abuse Essay An officer who uses more force than policy allows is said to have used excessive force and may be guilty of police brutality, the excessive and lawless use of police force. Police officers are often seen as a thin blue line of protection between criminals and law-abiding citizens, but when they use excessive force, they cross the line and become criminals. Police brutality damages the image of law enforcement as well as the justice system. It leads to loss of trust in the policemen, which then creates a gap between them and people in the community. According to the early policing principles imported from 19th century England, it is the lack of centralized control which forms a corruption in America when opportunities of bribery were widespread. Police reforms from the 1930s to the 1950s sought to establish professionalism among police forces by introducing military-like command and higher performance standards. Not everyone agrees with this type of procedure when critics see the March 1991 beating of Rodney King by officers of Los Angeles Police Department which used professional policing. From Rodney King beating in 1991 through the O.J. Simpson trial, the rift has widened the threatening racial discrimination. The reasons for the gap are complex and deep. According to the experts, it is based on the nations painful racial history. The current practice of racial profiling, where skin color is a criterion to pull over a driver is ongoing today. For instance, when Reggie Miller, who is Black, had been ordered to pull over by a Nashville police officer for driving with expired tags, had suffered chronic back problems as a result of the beating. It was about 8:40 p.m. when he was shot on his chest and ordered him to lie face down on the ground. Within couple of minutes the officer, who didnt have a chance to identify himself, called for backup. Suddenly Miller found himself as a cushion using his body from five police officers that had surrounded him. Miller also recalls that the officers gouge his eyes and choke him. This 1992 incident of Miller made him suffer a permanent back problem due to the beating and the shot he encountered. Police officers have no right by any  means to harass a person. Otherwise, they are more considered as criminal because of such inhumane acts. In general, brutality is a form of punishment. Police officers are not supposed to punish but are expected to protect and serve. However, they seemed to expose brutality as punishment when they beat up Adolph Archie in March of 1992. Archie was shot by a police officer and the police officer did not even bother to rush him to the hospital. Instead, they waited in the parking lot until they found out that their injured colleague had died. Then the officers took Archie in the hospital while beating him dead. Unfortunately, Archie only breathe for 12 hours and was diagnosed with two skull fractures, a broken larynx, fractures of the cheekbones, bleeding testicles, teeth had been kicked in, and his entire body was exposed to blunt trauma. Brutality is an inhuman or savage form of cruelty. Police officers need not use too much force to stop a sus pect. Police brutality is an important topic to discuss because it deals with the life of a person, the misconduct of some police officers, the burden it caused and the lesson that everyone should get from it. Police officers must realize they were not given their badge to show that they are ones to be afraid of but to keep the peace and order of the community. They have the right to discipline a suspect which will depend on the physical condition of the latter. Police need not use the force if the suspect is already injured because it may only lead to a more tragic situation. In several cases, people died after being restrained by police officers. Police brutality does not cause anything positive. It only leads to racism, disrespect among people, loss of respect and confidence for the police and it makes citizens feel less safe. Not a single act did brutality explicit an advantage to the people. The possible solution to police brutality is to include in their training new techniques in handling suspects and criminals geared towards the demand for public policies that promote social and racial justice. Furthermore, police officers should receive antiracism and diversity training as a part of their education in police academies. Police officers must learn to conduct themselves in multiethnic and multicultural communities. To fund this  solution, everyone must cooperate by respecting the police officers in our community and the law of United States of America. Without the cooperation of everyone, the prevailing widespread of police brutality will continue to grow. The people should give a serious thought of what they are doing in order to avoid violence. Lets just think about the victims of violence and how thousands of people die every year because of brutality. Lets not make one of our families and our next generations become a victim of these humiliating, devastating and inhumane acts of the police. We, as a nation, need concerted effort in protest for all the victims whose lives have been stolen and sacrifice. The goal must be nothing short of creating a just, humane, peaceful and less violent society. If there is no justice, there will be no peace in the United States. The widespread of police brutality has widened all over the world. The nation must join together to eliminate repression, unjust and abusive treatment by the police in order to have a more peaceful and harmonious nation. To terminate police brutality means calling for justice for our brothers and sisters whose lives have been stolen. In addition, this will give time for the government to open their eyes for the families of those who are unjustly locked down behind prison walls. It will allow balance of justice between the government officials and the people regardless of racial status. Our world would be a better place to live in because it lessens violence, death rate, and increases the confidence and harmony between the police and the community. Moreover, the absence of such brutality will terminate arrest and harassment based on racial origin. Bibliography: Activists Protest Against Police Brutality in LA, MAS magazine, (August 16, 2000), 2 pages. Call for a National Day of Protest to Stop Police Brutality, Repression, and the Criminalization of a Generation, http://www.mojo.calyx.net/~refuse/ndp/071400oct22.html, October 22, 2000. DNC Activists Protest Cop Brutality, MAS magazine, (August 16, 2000), 2 pages. NYPDs Bloody Month of August 1999, http://www.mojo.calyx.net/~refuse/ndp/090699ndpnyc.html, September 6, 1999. Anderson, Kelly, Police Brutality, San Diego California, Kelly Anderson, 1995. Bender, David, Policing the Police, San Diego California, David Bender, 1995. Charles, Nick, Criminally Suspect, SIRS, (September 1995), 4 pages. Conroy, John, Unspeakable Act, Ordinary People, New York, Alfred A. Knopf, 2000. Fitzgerald, Terence, Police in Society, New York, Terence Fitzgerald, 2000. Meeks, Kenneth, Driving While Black, New York, Kenneth Meek, 2000. Nelson, Jill, Police Brutality, New York, Jill Nelson, 2000. Roleff, Tamara, Police Brutality, San Diego California, David Bender, 1999. Steinhorn, Leonard, By the Color of our Skin, New York, Leonard Steinhorn, 1999.

History of Qatar: Al-Hajri

History of Qatar: Al-Hajri Maryam Al-Hajri Family/Tribe Al-Hajri Introduction: Qatar located in the western coast of the Arabian Gulf. There are around 2.576.181 people living in Qatar. When we talk about the state of Qatar, we should know that Qatar and all the Arabian Gulf have many tribes, customs and traditions. They lived in tents. One of the most well-known tribes in Qatar is Al-Hajri family. Despite of All tribes in the Middle East had many problems in the first but Al-Hajri family faced all these problems firmly and strongly. They had the ability to cope with the bad conditions in that time because they were belonged together. There are many important characters and special traditions in Al-Hajri family, so I will talk about Al-Hajri family and my research will highlight on their origins and traditions. Tribal Nature There are many traditions and customs distinguish tribal people rather than any other people. Tribal people lived only in deserts seeking for water and growing animals such as camels and sheep. Most of time they travelled from one place to another. They live in the Middle East especially in Saudi Arabia, Jordan and Qatar. About 5 million people live in deserts around the world. They are decreeing now. The tribal life is very difficult and no one in any other place can live with them .They have own lifestyle and culture. They are proud of their hospitality and generosity. They live in special tent which made of animals hair. In their spare time, they usually sing and clap their hand to their animals to make them feel happy. Their food is very delicious and tasty. Their food are rice and flour. They never eat fruits or vegetables. They have special clothes. Men dressed only galabia. They also cover their head by shalls. They have many colors cloths. Women also have special dressing. Th ey dressed only Abbaya with brightly colors when they went outside. They covered also their face and no one can see them. Tribal people have many languages and dialects distinguished them only depending on their location. History of the tribe Al-Hajri Family is one of the most important tribes in the Middle East, especially in Qatar. The tribe of Al-Hajri comes from the Sharif tribe. We know that Sharif tribe arose from the sons of Sharif gene Almzhadji. There are two great parties in Al-Hajri family. The big parties are Al- Mohammed and Al- almukhddaba. They are considered the big and well known parties in the Al-Hajri family. They were located in the Eastern Province of the state of Qatar. Most of the family tribe lived in the southern Saudi Arabia, especially in the valley of Yaeud and at the bottom of the valley of Alhvlan. They were lived also in the village of Freij in the state of Kuwait and connected with each other. The family was enjoyed with the generosity, courage, helping all poor people, kindness and all good deeds. There were many habits and traditions distinguished them from any other tribes in the Middle East. The fishing and the pearl driving were the most hobbies for them.El-Sheikh Mohamed Ben Shaban le aded the Al-Hajri family in the beginning of the thirteen century. He ordered them to live in Al-Sarah which located in the south of Najd. After that, When the Chaffee Ben Safar who is the grandson of the El-Sheikh Mohamed Bin Shabban had the title of the leader, he transferred them from the south of Najd to other place. They lived in Hasaa with their leader. Some of them also conveyed and lived in Qatar until now. In the Al-Hajri family, there were many elder characters such as Ibn Shafi, Ibn Ayed and Ibn Baeeth. The Al-Hajri family consisted of seven branches. They were Obeida, Aljuhadr, Sherif, Sanhan, Alhbab, Rafidah, and Bani Bashar. We know that all tribes in the Middle East had many customs and traditions. They travelled and conveyed a lot from one place to another place. They travelled and conveyed in order to find water and plants for their sheep and camels, so they called the nomadic tribe. The features and characteristics of Al-Hajri family There are many features and characteristics distinguished Al-Hajri family. When Al-Hajri family allied or entrusted with other family, they committed by its promises and charts even if the entrusted to another family lead to killing the last man of their family. There is no mentioned in the history that Al-Hajri family entrusted to other family and cheated it even if the order reached to happening big wars. Because of all these features El-sheikh Abdullah Al-Khalifa selected this family and considered it one of the most and strong families among all families in the Middle East and then El-Sheikh Qasem hired them to help him in establishing his rule in Qatar. The Al-Hajri family fulfilled with all charts with El-Sheikh Qasem and his rule was established in this time. El-sheikh Fares Nasser Ibn Khalil Al-Shahwan Al-Hajri who was belonged to the Al-Hajri family contributed in establishing the rule of El-Sheikh Qasem. The Co-operation between El-Sheikh Qasem and El-Sheikh Fares came afte r Qasem saw that his father paid much money which imposed to Qatari people to the Bahrain ruler under the contract done in 1968. The root of Al-Hajri family In Al-Hajri family, they divided into many branches as follows: the branch Al-Sultan and they are two sub branches as Al-Khalid including Al-Aswad, Al-Rashdan and Al-Growan. The second sub branch of Al-Sultan is Al-Ghanem including Al-Hotan, Al-Asimy and Al-Samad. There were many also sub-branches related to Al-Sultan but they were died out such as Al-Saqr, Al-Safoq and Al-Shreem. The second branch is Al-Fahid and they were six main branches including Al-Doghman, Al-Hobran, Al-Shohiman, AlKober and Al-Goghan. Each of all these main branches have many families. The third branch is Al-Falha and they were listed under three branches such as Al-Baqr including Al-Ramis, Al-Awir and Al-Marbid, the second sub branch of Al-Falha is Al -Shraa including Al-Mohamed and Al-Qrity. The third sub branch is Al-Mosalma among them Al-Nomian and Al-Monqash and there are many other families belonged to Al-Falha but we dont know anything about them. Finally there are many other branches such as Al-Gadi, Al-Masrir, Al-Zaid and Al-Shhwan. Conclusion There is no doubt that Qatar is an important countries in the world. There are many families in the Middle East especially in Qatar. One of the strongest and generosity family in Qatar is Al-Hajri family. They located in many place in different countries like Saudi Arabia, Qatar, Kuwait and Emirates. They are famous by travelling from one place to another place and they not settled on one place. The family have many good features and characteristics like helping people and courage. There are many things distinguished this family such as promising and their charts with other families. In the history, there is no mentioned that any one in Al-Hajri family break the convent with any person. They helped El-Sheikh Qasem to establish his rule. There are many branches in Al-Hajri family like Al-Sultan and Al-Mosalma. In the end Al-Hajri family is one of the strongest and generosity family comparing to all families in the Middle East. References Advameg. (1997). Qatar. Retrieved from everyculture: http://www.everyculture.com/No-Sa/Qatar.html

Trends And Current Problems In Aviation: Cockpit Voice And Flight Dat

Problem statement One of the most scrutinized pieces of evidence gathered from an aircraft accident is the collection of information contained in the Cockpit Voice Recorder and Flight Data Recorder. CVRs and FDRs paint an often haunting, but frequently useful picture of what occurred during the last minutes of an accident flight. This is not to say, however, that the recorders are always conclusive, or even useful. There are a handful of cases where the CVR and FDR tapes have broken, failed to record, stopped recording early, or not captured enough information to be useful to the investigation. Advancements in these devices are not new to the industry; however, the pace is slow to incorporate new technology into current fleets. Justification Concerns surrounding Cockpit Voice Recorders and Flight Data Recorders stem from all corners of the aviation industry. There are currently five outstanding NTSB recommendations to the FAA regarding the use of and reliability of CVRs and FDRs. Of these five suggested improvement areas, the FAA has yet to respond to any of them, prompting the NTSB to place the issues on their list of Top 10 Most Wanted Safety Recommendations. Documented cases will be presented in this text where CVRs and FDRs have stopped recording seconds, and even minutes, before an accident. Other cases will examine incidents where the focus shifts to a hypothesis as to what may have been recorded on earlier portions of the tape. Either way, strong cases will be built to justify having CVR and FDR tapes not only record longer, but to record more information as well. Herein, we shall identify existing problem areas, areas where work is ongoing, and areas for which future plans are in existence. These topic areas can be identified as follows: à ºÃ‚  Ã‚  Ã‚  Ã‚  Ã‚  FDR and CVR carriage requirements for new aircraft à ºÃ‚  Ã‚  Ã‚  Ã‚  Ã‚  FDR and CVR carriage requirements for existing aircraft (retrofit) à ºÃ‚  Ã‚  Ã‚  Ã‚  Ã‚  Independent power supplies à ºÃ‚  Ã‚  Ã‚  Ã‚  Ã‚  Cockpit video recording à ºÃ‚  Ã‚  Ã‚  Ã‚  Ã‚  Deployable recorders à ºÃ‚  Ã‚  Ã‚  Ã‚  Ã‚  NTSB recommendations Background History Flight information recorders have been in use on commercial aircraft since the 1950’s. The FAA requires both CVRs and FDRs to be installed on all aircraft capable of carrying ten or more passengers when u... ... a loss of power would result in 1/3 of the transcript being taped over. A good case is presented for 2 hour-long tapes. As technology speeds into the blue yonder, we can expect to see more innovations in in-flight recordings. Civil aviation has not progressed to the point where video cameras and deployable recorders are viable and reliable devices. Will it ever? We can speculate. For now, the recommendations that lie before the FAA appear sufficient. The current trends and problems surrounding recorders have seemed to be addressed by the Safety Board. It is up to the Feds now. Works Cited FDR/CVR. 2 May 2000. Frostell, Caj. â€Å"Flight Recorder Carriage Requirements.† Online Posting. 2 May 2000. Nordwall, Bruce. â€Å"Deployable Recorders Provide Potential Boon to Crash Recoveries.† IPN International Product News. 20 March 2000. 86-87. Safety Issue: Automatic Recording Devices. 2 May 2000. Sight Recorder. 2 May 2000. Chris Dahlstrand Trends and Current Problems in Aviation

Words and Meaning :: Philosophy of Language

Words and Meaning How do words bear meaning? The notion that a word means what it stands for – its denotation - will be examined and found wanting because logical analysis is only able to illuminate limited areas of language. It will be then suggested that metaphysical speculations about the sort of entities named by words are at best unhelpful. The idea that words get their meaning from the way they are used in public discourse will then be introduced as potentially more useful, although some problems with this approach will also be noted. Finally it will be suggested, very briefly, that an answer to this question may best be found in the common human condition – how we operate in the world using language. It is attractive to assume that the meaning of a word is the entity it denotes. There are many cases where this definition will do. For example in the sentence, John sat at the table. ‘John’ denotes a person and ‘table’ denotes an object. This seems straightforward. There are sentences, however, where the meaning is apparently clear but where the entities are not so clear cut. The sentence below has a clear meaning: The singing was divine but the acting was wooden. The proposition carried by this sentence is easily understood. However, the entities ‘singing’ and ‘acting’ are not so clear. They are ongoing actions not so clearly defined as tables and chairs. Furthermore, the metaphorical qualifiers ‘divine’ and ‘wooden’ do not help do not sharpen the meaning. Is ‘divine’, for example, merely a fanciful replacement for ‘enjoyable’? A whole conversation about the nature of singing and acting might follow such an utterance. Denotation and questions of logical form do not seem to be helpful in explaining the meanings of words in ordinary talk although human beings do seem to be impelled towards rational discussion. We habitually give reasons for things. For example, a discussion about ‘the greatest footballer ’ often finishes with extensive debate about what the defining criteria might be (a verbal dispute about connotation). Subsequently the argument often then turns to which player best meets these criteria (arguments to establish denotation). Whatever the case the denotation for ‘the greatest footballer’ is problematical. Much of this kind of discourse is based upon opinions. These opinions may or may not be true. This in no way affects the meanings intended by the speakers.

Forensic Evidence is Vital to Criminal Investigations Essay -- Forensi

At every crime scene there is evidence and evidence is the vital part of crime scene investigation. From the time an officer arrives on the scene until a conviction of the perpetrator evidence is the key element in determining the guilt or innocence of those accused. A poorly conducted crime scene investigation can sometimes either destroy evidence or render it useless. The possibility of tainted evidence, miss-handled evidence, or lack of evidence, the guilty can go free or the wrongful convicted. When someone is convicted or acquitted wrongly it has an adverse effect on the entire criminal justice system. Evidence can range from body fluids, to weapons, to witnesses and DNA. Understanding and implementing the proper logistics of crime evidence and the proper use of forensic technology is the key. Evidence can not only establish the facts of an offense and identify the offender; it may even lead to a conviction. A Crime Scene Investigator must first approach the crime scene as if it is their only opportunity to protect and retrieve physical evidence. There are special technics and tools that crime scene investigators use to retrieve, preserve, and label all types of evidence (for lists of Crime Scene Equipment see Appendix A). The general protocol for crime scene investigation, processing, and analysis involves five basic steps: interview, examine, photograph, sketch and process (Berg, 2008). When looking at the crime scene it needs to be looked at with fresh eyes and without a prejudiced opinion of what happened, how it happened, or who might have done it. A conclusion may be based solely on the evidence and so an investigators integrity and judgment, gathering the evidence, maybe what stands between a conviction and a dis... ... National Institute of Justice. (2007, October). Forensic Databases: Paint, Shoe Prints and Beyond. Retrieved March 3, 2012, from NIJ Journal No. 258: http://www.nij.gov/journals/258/forensic-databases.html North Carolina General Assembly. (n.d.). Admissibility of Forensic Evidence. Retrieved March 5, 2012, from Article 7 C .8 58.20: http://www.ncga.state.nc.us/EnactedLegislation/Statutes/HTML/BySection/Chapter_8/GS_8-58.20.html North Carolina General Assembly. (n.d.). Evidence Code Article 1. Retrieved March 5, 2012, from Chapter 8c-1.: http://www.ncga.state.nc.us/EnactedLegislation/Statutes/PDF/ByChapter/Chapter_8C.pdf North Carolina State Bureau of Investigation. (2010, January). Evidence Guide. Retrieved March 9, 2012, from http://www.iape.org/manuals/No%20Carolina%20Evidence%20Guide%20(2010).pdf Siegel, L. J. (2011). Criminal Justice. Belmont: Wadsworth.

Critically examine the architecture, routines, and culture (ARC) framework of organisational design as proposed by Saloner, Shepard and Podolny in Strategic Management Essay

The design of an organisation is highly crucial for a firm in today’s world in order for it to achieve and sustain its competitive advantage that will place the firm in a stronger position than its rivals. The firm can manipulate the components of organisation design, fit these elements with one another and with the strategy, to impact the firm’s performance. Hence, the goal for the organisation is to have a good fit between the firm’s design and its competitive advantage in order for the firm to be strategically aligned with the strategy. Any effective design will have to address 2 general problems: the coordination and incentive problems and must do so in a way that supports the organisation’s strategy. The firm can make use of the Architecture, Routines and Culture (ARC) framework to grapple these problems. This essay will firstly describe how the ARC framework can be implemented accordingly. An effective design will depend on the 3 elements working together and so, these interactions will be analysed. In addition, the implications of the framework will be examined too. To start, we need to define each component of the ARC framework. Firstly, the architecture refers to the dividing of the firm into subunits and establishing linkages among these groups. Secondly, routines are the formal and informal procedures while carrying out tasks developed from repetition. They embody established interfaces which pertains certain expectations about what will flow across them and a protocol for accomplishing the transfer. Lastly, culture is the commonly held values and beliefs of individuals within the organisation and once deeply embedded, is the evaluative criteria for behaviour and decision making in the firm. The 2 main challenges of organisation design are the coordination and incentive problems. As they are interrelated, their effects are intertwined and addressing one could impact the other. The coordination problem refers to the challenge of establishing an organisation design that achieves an efficient deployment of assets within the firm so that it can achieve its objectives as efficiently as possible. There are several crux of the coordination problem: balancing the gains from specialisation and the gains from integration; and how the decision making process is designed with the need for access to information flows. The incentive problem refers to eliciting the right amount and type of effort in the presence of hidden information and hidden action. It arises from the divergence of interests and objectives of the manager and the shareholders and is most commonly linked to the Principal-Agent problem. Having explained the key concepts, the coordination and incentive problems will be addressed with the ARC framework. In order to construct an organisation structure, the firm is broken down into subunits and such delineation impacts information and resource flows within the firm. To tackle this, one has to match an architecture structure which minimises coordination problem. An argument from the Strategic Management would be whether functional or divisional structures would be better to deal with it. A functional organisation is one which groups individuals according to the tasks they perform. The different functional groups (R&D, marketing, finance et.cetra) are clustered together to be overseen by a superior. Such a classification of groupings reaps the benefits of specialisation as information sharing and learning is facilitated. There is an efficient spread of knowledge and incubation of ideas among the specialists such as in the R&D sector where creative ideas can be built upon other’s ideas to attain innovation. Functional division allows better problem solving process as having similar specialists such as engineers in a group can lead to early detection of a manufacturing glitch and faster solving speed. In addition, there is a clear hierarchy with well-defined positions established within each function. The role of advancement is clear and hence employees are motivated to specialise and invest heavily in human capital to advance. On the other hand, divisional structure differs as the primary subunits are classified based on business divisions and under each of them are functional sub divisions. This allows for better facilitation of coordination across functions especially as the firm increases in scale and scope. If a retail firm divisions according to the different customer group it serves: Women and Children, both sub-divisions are served by functional groups. The design team could learn quickly about the change in taste of its customer group from the sales team of which will not be possible if the teams did not operate under the same subunit. This supports Alfred Chandler’s claim that divisional structure enhances accountability and communication. Hierarchy too, is an important factor to consider when structuring a firm to address coordination problem. Since the communication among managers together with the dissemination of information and shared resources to the groups coordinates the actions of the subunits, the level and nature of hierarchy affects the effectiveness of the communication process. Passing information through each level consumes resources, causes delays and degrades the information by introducing noise and distortion. This justifies the allocation of decision-making rights to those who have the most immediate access to the relevant information. However, decision makers may not know how their decisions will affect the other subunits. Away to address this is to create a formal linking mechanism that coordinates the decision across subunits or to centralise authority for only decisions which require more coordination. Horizontal linkages can also be established across units to achieve coordination. Its mechanisms facilitate information and resource flows without affecting the organisation of the subunits and this allows cooperation across units without sacrificing the gains from specialisation and decentralisation. There are several forms ranging from informal to formal procedures which include personal network, liaison, task forces and integrators. The selection among these options depends on the interdependence among subunits. More interdependent subunits will require a more tightly coupled design. Horizontal linkages benefits are 2 fold: they promote information flows and they get the firm away from rigidity. An apt example would be the strategy of the Japanese auto mobile firms located in the United Kingdom. The managers and workers share common facilities and by doing so, horizontal linkages are built in the firm on a less formal setting with a flatter structure. Managers dine with the workers and this provides the platform for the quick dissemination of information and decision making. Under the ARC analysis, routines also solves coordination problem as the established interfaces bring about large coordination gains. With each worker clear of his roles and the procedures, gains from specialisation is reaped. More importantly, huge informational efficiencies are gained as when tasks proceed from one unit to another, minimal amounts of information is needed to be communicated between units as each unit only needs to know the information to carry out its part. Decision making routine also facilitates the decision making process as it is applied every time a decision is made, thereby excluding biased and inefficiency from disagreements among decision makers. Lastly, a routine way for one division to access the resources in another division enables the firm to coordinate in ways that would be difficult if the firm has to make a new resource sharing decision each time. ulture too, induces cooperation. With a common set of beliefs, members of the firm will not approve of actions that violate the culture of the firm. The workers are naturally coordinated in actions and appropriate behaviour. With a well developed norm of reciprocity, resource and information sharing can be achieved between and across subunits and this enhances cooperation. Also, culture helps employees focus on tasks that are important for the competitive advantage of the firm. The ARC framework can be implemented to deal with the incentive problems as follows. Compensation and reward schemes can be designed to induce desirable behaviour. Financial incentives are a strong motivation for workers to act in profit-maximising behaviour. However, this can lead to the substantial variation compensation over time and it is difficult to ascertain the profit impact of the units’ activities. To reward more accurately, compensation can be tied to a combination of imperfect indicators of unit performance according to the 4 rules of thumb. However, these indicators are subjective and the cost of collecting and analysing the data could be too great. Architecture structure should also be considered to minimise the incentive problem by affecting the importance of cooperation across units. If decisions cut across 2 separate organisation units, the identities and performances of them are intertwined and this brings a self-interest reason to assist the other and cooperate. However, not fully owning the consequence of performance will dilute incentives for individual performance. Architecture has its limitations in dealing with the incentive problem and the other elements are important to better solve it. Routines improve the incentive problem, but also not to a great extent. They do create opportunities to get better indicators of performance of which can be incorporated with the architecture compensation scheme of combining incentives from other indicators of performance. Routines can also automate activities for which it is otherwise difficult to provide incentives for. Lastly, culture plays a stronger rule in addressing the incentive problem as it targets the foundation of the issue of aligning interests. With a strong culture, it is possible to have the firm and subunits share similar goals thereby evoking that particular behaviour from individuals without pecuniary rewards. Suppose a consultancy firm’s competitive advantage lies in providing effective solutions to their clients’ problem, it can spread this belief to its employees. If the employees attain considerable satisfaction from delivering results, they will behave in ways aligned with the company’s competitive advantage without the need of the firm to offer financial incentives for this behaviour. However, the difficulty in reinforcing culture has to be accounted for as it could meet resistance in a change in mindset among the employees. Yet once established, culture leads to an effective organisation design. Within the ARC framework, the elements of the organisation design interact with each other to solve the challenges posed. An example could be how the culture could influence the routines of the firm as the standardised interfaces could be derived from the culture. With the norm of reciprocity in the firm, resource sharing routine will be established in such a way that subunits are more willing to share resources in order to solve the effective deployment of resources from the coordination problem. Another perspective of the ARC interaction could be how culture affects architecture. If a firm has an open-minded culture, it could direct the style of structure to a flatter hierarchy with more interaction between subordinates and superiors. This encourages improved flow of information asset in the firm. Using the ARC framework suggests many implications for the organisation. Given the complexity and intricate relationships between the elements of the firm’s ARC and the organisation design problems, designing the organisation is not as straight forward a task for the managers. The managers will require a deep understanding and strong execution of the elements of the firm’s ARC or more problems could arise. A possible solution proposed by Saloner, Shepard and Podolny is to have a systematic approach to collecting information on the design challenge facing the firm and design elements. There are 2 parts to carrying it out of which the first is to ask and analyse problems that would be addressed if the organisation is restructured. The second part poses questions to gather a good description of the firm’s current ARC. The managers are to identify any inconsistencies among the elements that are making the organisation less effective as it could be. Although this approach allows more accurate identifying of the weak areas of the ARC, managers will still have to learn by doing and tweak their policies over time for the optimal design. A second implication would be the need for the framework to be dynamic so as to achieve organisation agility. As an organisation is designed to obtain a competitive advantage for the firm, it is pertinent that the nature of its competitive advantage is considered. The organisation design has to be flexible and change in tandem with the changing needs of the competitive advantage. Hence, there is no one best design to accommodate all considerations. Firstly, firms must continually develop and deepen its current competitive advantage to meet the challenges of competition (exploiting). Secondly, the firm may want to alter its strategy to pursue another form of competitive advantage (explorer). A retail firm in an economy recession will need to change its competitive advantage to producing lower priced goods to garner market shares and can do this by flexibly changing its incentives to reward the manufacturing department based on sales volume, thereby producing at lower cost. Firms can meet this challenge by possessing elements of both exploration and exploitation to profit. Lastly, does the ARC framework act solely to design an organisation to achieve the firm’s competitive advantage? It could work better if complemented with other processes such as innovation. Innovation could be connected with organisation design to ensure a more sustainable competitive advantage. A firm could incentivise its employees based on how good they are in coming up with cutting edge technologies to promote innovation in the firm. In conclusion, the ARC framework has given a reasonable approach to design an organisation. Most of the arguments, however, assume according to Alfred Chandler’s view that â€Å"structure follows strategy†. Does this relationship need to follow as such so that the company structure runs parallel to the strategy? I beg to differ as the strategy and structure relates reciprocally and hence, the ARC framework could be at times used at the deciding factor of the company’s strategic planning too.

Briefly outline the main features of the ‘Wuthering Heights’ and ‘The Woman in Black’

The Gothic genre became popular in the mid-eighteeth centuary when ‘The Castle of Otranto' by Horace Warpole was written. Emily Bronte was influence by ‘The Bridegroom of Barna', published in the nineteenth centuary when writing ‘Wuthering Heights'. Today, the equivalent of the Gothic novel a horror novel by writers such as Steven King. â€Å"The Woman in Black' is a modern novel with Gothic influences. The main features of the Gothic novels were the main character, usually an anti hero: dark, demonic and motivated by inhuman cruelty. This man usually had mysterious origins and did not value many of society's morals. Later, in the nineteenth centuary when the Romantic movement developed, the Gothic anti-hero became the Byronic hero in many novels. Like the Gothic protagonist, the Byronic hero usually had a mysterious past, as well as dark, good looks and a hatred for society's moral laws. Heathcliff, in Emily Bronte's novel ‘Wuthering Heights', is a good example of a Byronic hero. Another important feature of many Gothic novels is the setting. Gothic novels are usually set in a grim, hostile landscape often on a deserted moor or marsh, as in the case of ‘Wuthering Heights' and Susan Hill's ‘The Woman in Black'. Such grim landscape often mirrors the character of the hero. There are also references to the supernatural in many of these novels, such as the ghost of Jennet Humfrye in ‘The Woman in Black' or the ghost of Cathy in ‘Wuthering Heights'. There is also a strong supernatural element in these stories often linked to the main character. Revenge is usually a strong theme in Gothic novels. The anti hero often seeks revenge against the people around him, perhaps because of some earlier wrong he was the victim of or simply against society in general, because of the alienation he feels he has suffered. For example, in ‘Wuthering Heights' Heathcliff revenges himself against Hindley's son Hareton because of the pain Hindley caused him when he was alive. Other features of Gothic novels include the presence of an ancient retainer, usually an old man. There is also usually a victim, often a fair haired young woman. She is supposed to represent good and the moral values which the anti hero is trying so hard to destroy. The idea of a Gothic anti hero is particular prominent in ‘Wuthering Heights'. In this book the main character is Heathcliff, an orphan who is brought to Wuthering Heights by the old Mr Earnshaw in his childhood. Like most Gothic heroes, Heathcliff has dark, good looks, a mysterious past and an unquenchable desire to revenge himself on the people he feels have wronged him. The story of ‘Wuthering Heights' revolves around Heathcliff's life and his relationship with his ‘soul-mate' Cathy. Heathcliff's looks, and in particular his eyes are described by the housekeeper and narrator Nelly as â€Å"that couple of black fiends, so deeply buried, who never open their windows boldly†. Later in the book Heathcliff is contrasted with Cathy's future husband Edgar Linton: â€Å"The contrast resembled what you see in exchanging a bleak, hilly, coal country for a beautiful, fertile valley†. This description not only describes Heathcliff's looks but also his charater, bleak suggesting his personality and â€Å"hilly† describing the mood swings he has. Heathcliff's desire for revenge against Edgar Linton, Hindley Earnshaw and, to a certain extent, Cathy, is shown by his actions during the novel. He abuses Hindley's son Hareton, as well as Edgar's sister Isabella and his daughter Catherine. In contrast to ‘Wuthering Heights', ‘The Woman in Black' does not have a clear anti hero. Instead there are two characters who share this role. They are Arthur Kipps and the woman in black, Jennet Humfrye. Kipps is not the traditional Gothic hero because he does not have dark, good looks or a mysterious past. Instead, he is more like Lockwood or Edgar Linton in ‘Wuthering Heights'. The other main character shares some of the traits of the revenger and the victim in many Gothic novels. Jennet Humfrye is a ghost who had lost a child she had out of wedlock and died of a wasting disease. She is now revenging herself on innocent victims. Whilst the idea of revenge is similar to the Gothic hero, Humfrye is a very different character because she is dead and also a woman. She is also not a traditional Gothic victim, because despite being female she has a wasting disease and therefore isn't beautiful. She also does not embody the positives of society, such as chastity until marriage that most Gothic victims do. The setting and atmosphere in ‘Wuthering Heights' and ‘The Woman in Black' is also an important feature of both novels. The setting is one of biggest similarities between the two books as both are set in grim, inhospitable landscapes- ‘Wuthering Heights' on the Yorkshire Moors and ‘The Woman in Black' on a bleak marshland. Another similarity is the houses where the two novels are set: Wuthering Heights and Eel Marsh House. Both houses are bleak and very isolated. Arthur Kipps first describes Eel Marsh House as â€Å"a tall, gaunt house of grey stone†. There is a lot of adverse weather such as storms in both books. This echoes the personalities of the main characters and also helps to add even more tension and atmosphere to the plot. For example in ‘The Woman in Black', when Kipps discovers the nursery has been wrecked, there is a storm going on outside. He is unsure whether the nursery has been damaged by the storm or whether Jennet Humfrye has been there. The intrusion of the supernatural features in both novels. In ‘Wuthering Heights', it occurs at the beginning and at the end of the book, where Lockwood and then Heathcliff encounter the ghost of Cathy. ‘The Woman in Black' is basically a ghost story and therefore the intrusion of the supernatural is a major part of the plot. In both books there is confusion between reality and the supernatural. In ‘Wuthering Heights' this occurs when Lockwood encounters Cathy's ghost. It is quite clear to the reader that Cathy's ghost did actually appear but Lockwood manages to convince himself that he was dreaming, overlooking the broken window and the fact that he never went to sleep. In ‘The Woman in Black', Arthur Kipps is very sceptical about the existence of the woman in black to begin with and does not recognise the ghost when he first encounters her, describing her as â€Å"another mourner, a woman†. There are, however, clues that the woman is a ghost, just like in Wuthering Heights. She is dressed in a very old fashioned dress and disappears very suddenly. I think elements of the Gothic genre are used very effectively in both ‘The Woman in Black' and ‘Wuthering Heights', especially since neither novel is specifically a Gothic novel. I think that the theme of revenge is most prominent in ‘Wuthering Heights' because it is the driving force behind the passion of Heathcliff's character. I think the setting of the story is used to great effect in ‘The Woman in Black' because the adverse weather and desolate marsh add a lot of atmosphere and tension to the plot. I personally prefer ‘Wuthering Heights' because I feel that Emily Bronte has managed to create characters with great depth and has managed to effectively portray the passion between Heathcliff and Cathy. Also, whilst ‘Wuthering Heights' does have Gothic features to it, Bronte does not let them compromise the storyline in any way.

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