“Gentlemen Prefer Blondes” Comedy Essay

â€Å"Gentlemen Prefer Blondes† is a 1953 Musical-Comedy released by 20th Century Fox, directed by Howard Hawks and starring Marilyn Munroe and Jane Russell; the two greatest sex symbols of the era. The camera’s point of view is that of the ‘male gaze’, where women are regarded as objects of fascination and the men are assumed to have a position of power. Hawks shows how it can be easily hijacked by females smart enough to control, manipulate and ultimately blur the ‘male gaze’. As much as this film is shot for the ‘male gaze’ it is as much for a female audience as it is for males. In the song-and-dance sequence, â€Å"When Love Goes Wrong†, the two female protagonist had just been expelled from the hotel by Gus. Though the situation for Lorelei and Dorothy should be one where they are left helpless and powerless the scene however displays the opposite. In the entire scene both female protagonist are captured front and center with close ups and the lighting on their faces is well defined which gives them a sense of importance and power. At the same time the men gather around them captivated, giving their undivided attention to the females as they sing and dance; giving them a position of control over the men. Their position of power is so prominent that they even get the admiration of young boys who seem to be gypsy’s. Gypsy’s are known to be quick, sharp and in control when it comes to stealing but in this scene their heads are turned by the sensual Lorelei and they are totally distracted. Bothe females are well aware of their manipulative powers as Dorothy encourages Lorelei to use her charms, saying, â€Å"Do it now, do it!† What appears to be submissive to the ‘male gaze’, in this scene however they put on a chow in exchange to negotiate their presence and have their voices heard in a dominantly male world. When the females are seated they appear to be two damsels in distress, however the movement of standing up represents liberty and the space they command when dancing communicates freedom and power. A melancholy moment turns to a vibrant and fun sing-and-dance where they reject the actions of men to have power over their emotions. Though the scene is shot in the view of the ‘male gaze’ the line is blurred when Lorelei and Dorothy use their sensual and attractive appearance to control, manipulate and command power in a dominantly male world. By this the scene takes a turn to cater to the female sight giving a sense of empowerment and independence in a situation where they should be the damsels in distress.

Is marriage an outdated tradition Essay

Is Marriage an Outdated Tradition? In this essay I will be explaining whether marriage Is an outdated tradition along with my opinion and the ones of Christians. In my oplnlon I believe that No, marriage Is the same strong, important connection it was 100 years ago. The difference is the people who enter into it, and the way society no longer supports the couples who choose it. We’ve become a â€Å"need It now† society and are ready to discard whatever doesn’t give us Instant happiness. Divorce has become so acceptable that couples go Into arriage with the plan to divorce If they aren’t satisfied (prenup) as compared to the people in our past who believed marriage was forever and were motivated to keep working at the relationship and to make it work. Today couples are ready to give up as soon as it’s not fun or the sex becomes dull. The other part of the problem Is society’s lack of support for marriage. The UK benefit system Is too lenient towards those who choose to have children without being married therefore helping them with housing, childcare, schooling and food. The rest f the family before would be providing emotional support and pressure for the couple to work at the relationship, now it’s more looked at it as being only their problem and not a problem for the people around them. Today we’re more concerned about an individual’s right to personal happiness than to supporting responsible or ethical behaviour-I believe a person’s happiness Is extremely Important but people’s morals and ethics are what make them happy. I also believe the idea that something that’s worth having is worth fighting for, having omething a long time, the pride of working at something, at pushing through the hard stuff to be able to stand back and look with pride at having made something great, is gone. The Christians of the Catholic Church teach prohibition of premarital sex along with the rejection of homosexual marriage, abortion and contraception but also the acceptance of everyone and equality but while all those are very Important none is what makes the bond of marriage stick. It happens when two people who are free to marry and are physically and emotionally capable of marriage give themselves o each other, understanding that marriage means being open to life and commitment and to faithful love till death.

Assess the Contribution of Functionalism

Functionalists view the family as an institution that is present in society to maintain social order and stability. Functionalist’s also view society’s functions very similar to that of the human body. The Brain in the human body is the organ that controls all other functions. In Society the Government is the main control over the country as a whole. The heart of the body is what keeps the body alive. In society the family is the heart. Overall if the family and heart is taken out, the body and society would collapse and die. Although both of these have necessary back-up systems, the society has the Army, Police services and Laws if the government should collapse. And the body has immune systems and antibodies to fight of any infections and diseases. Family is seen to be the key to society because it means reproduction to keep the society functioning. According to Functionalists the only family that would mean perfect functioning of society is the Nuclear Family. The nuclear family consists of a working man, a housewife, and children. The man is the breadwinner, he earns the money that the wife uses to buy food and necessities to help keep the family together. Functionalists views of this concept believe that heterosexual couples, adopted children and divorces do not fit into the smooth running of society. Murdock (1949) states that ‘The nuclear family is a biological necessity because it is universal’. What he means by this is that the main reason that reproduction of children is a necessity to society is because it is world-wide, it is happening everywhere and it can be found in all societies. Murdock also says that there is 4 key points. Stable Satisfaction of the sex drive (Less promiscuity), reproduction, primary socialisation and economic needs. Parsons extends on Murdock’s theory with the warm bath theory. This theory is based on how the family is seen to be a stress reliever. The man arrives home from work and is expected to be presented with a meal cooked by the wife. The family home is supposed to be a relaxed stress free environment for the man to wind down after a long day at work. Parsons also developed the functional fit theory which means a given family will fit the needs of the society in which it is found, for example, the extended family is only usually found in the pre-industrialisation period (according to Functionalists). And the Nuclear Family happens in the industrialisation period. The Nuclear Family is seen to be geographically mobile, higher wages also means socially mobile, and they are able to move up the social ladder. Parsons also adds to his theory the loss of functions; stabilising adult personalities and primary socialisation.

Strategy Essay Example | Topics and Well Written Essays - 1000 words - 8

Strategy - Essay Example This scenario’s characteristics will be open regulation of European and American airline industry and increasing customer price sensitivity. The final scenario is one of new horizons, in which European and American carriers will still be struggling from the financial crisis, cutting business travel and seeing an increase in low cost airlines (Grieve, 2012: p16). This will be characterized by protectionist regulation of the airline industry in Europe and America and increasing customer price sensitivity. c) The first scenario will require restructuring and improving efficiency to control disadvantages of cost (Grieve, 2012: p17). The second scenario will require airlines to increase the levels of quality and service through innovation on the ground and in the air to stay competitive against low cost carriers from Asia. Another strategy would be a hybrid of the two, in which investment is made in cost saving and core preferences of the customer, while also improving various support processes. Finally, European airlines should lobby European and national bodies to reassess disadvantages and advantages of liberalization of the airline industry in Europe. a) One resource that Square Inc possesses is knowledge and information, for example customer information systems like their CRM database, as well as knowledge and understanding of customers and retailers (Grieve, 2012: p22). Another resource they possess is capital in form of equipment and funds, which are relevant since their absence would create constraints for the company. With regards to Capabilities, Square Inc has a pricing management capability, which gives them the ability to extract from their customers an optimal profit and revenue using price discrimination tactics through a yield management system capability. Another capability they possess is customer relations management that enhances their ability to

The Poor and Vulnerable in the Society Essay Example | Topics and Well Written Essays - 500 words

The Poor and Vulnerable in the Society - Essay Example The above examples illustrate how much God cares for the poor. Christians have the responsibility to emulate these examples because they represent God on earth. Justice in the society is measured by how the poor and vulnerable are treated. If they are sidelined or treated as second citizens, it is because such a society lacks morals and the ethical responsibility needed for fairness to reign. However, when the poor are given a voice, justice flows. Therefore, Christians should be in the forefront defending the rights of the disadvantaged in society, as this is what is meant by true religion. People blame the poor and vulnerable for their states. These societies equate wealth with hard work. The affluent are praised for their possession. They are considered as superiors because of the material gains they have. On the other hand, the poor are treated as inferior because they do not have wealth acquisitions (Sellers 124-127). They are regarded as worthless or given difficult tasks to perform because they do not have any other option. However, with such treatment, the rich secure their future while worsening matters for the poor (Ark 55-59). It becomes difficult for the poor to break the cycle of poverty because they are overloaded with work for little pay. Their condition is prolonged not because they are lazy, but because they are not given equal opportunities as their fellow wealthy counterparts. They have to struggle to survive yet the rich glide through life. However, when chances are provided equally for all, the poor get the opportunity to improve their circumstances. The elite has the advantage to better education. Knowledge puts them ahead in life. It provides them the probability of securing a well-paying job. It puts them ahead in the corporate world. In third world countries, a good education is a huge privilege for many. Illiteracy has been a huge cause of poverty. However, there are countries that have abolished  school fees in public schools. In such institutions, the class turns up is high.  

My Dream Vacation Essay Example | Topics and Well Written Essays - 250 words

My Dream Vacation - Essay Example If I have a lot of money and unlimited time, I would like to go on vacations to India. I have heard a lot about India, its unique culture, exotic natural beauty and cuisine, but have never been there. I want to visit India because she is so unlike my country i.e. the USA. People of India not only look different, they speak a different language and are entirely different from us Americans from every aspect. For one, I love the Indian race because of its facial features. I want to explore the diversity of India. From what I have read about India in the books and seen in the media, I have come to know that it is a land that unites people belonging to different subcultures. I particularly have a great taste for the Indian cinema. Although I don't understand Hindi or Urdu languages, yet they sound very sweet to the ears. The Indian cinematography is one of its kind. I love the heavily beaded dresses, their taste for heavy jewelry and makeup, and most importantly their respect for their ro les and responsibilities as members of a family. One thing that I could never understand about the Indian culture was how the Indians manage to live in the joint family system. Despite all the generational differences and gaps, they spend all their life together. This is something truly remarkable and worth-observing from a closer view, which is one of the main reasons I want to go to India for.

Contemporary Issues in Business Essay Example | Topics and Well Written Essays - 2500 words - 1

Contemporary Issues in Business - Essay Example In fact, planning is not about predicting the future, but preparing for it disregarding the fact of which future will eventually come true (Wade, 2012, p.31). Therefore, scenario planning is about trying to formulate plans that are addressing the what-if scenarios in the future (Hill and Jones, 2009, p.26). It is therefore easy to understand that scenario planning is a used tool for flexible long-term plans, which also allows decision makers to understand the nature and impact of uncertainties that affect the world (Northumbria University, 2014). This technically does not mean forecasting the future, but eventually preparing for the future to come based on the possible scenarios to take place. After all, scenarios are considered to be as strong supports for strategic planning (Zahradnickova and Vacik, 2014, p.665). The reason why there is a need to prepare for the future with various plans addressing the what-if concerns is due to the fact that the business environment is affected by many forces. This leads to the point that in the actual business, scenario planning is considered as an analytical tool that allows the business people to prepare things in the future, because it allows them to develop a framework that can lead them further to develop visions for the future as they analyse the environmental forces in the environment that can hinder growth. In the business environment, an organisation is faced with various forces such as politics, economics, social, economics, technological and legal concerns. These are important factors that could substantially affect the business outcomes. In the first place, there are various cases by which the success of an organisation depends on the prevailing legal concerns in an organisation. On the other hand, the success of a certain brand for instance ma y depend on the prevailing social trend that people accept in the society.

Entertainment Law Essay Example | Topics and Well Written Essays - 4000 words

Entertainment Law - Essay Example The advantages of this form of business would be that this business form is easy to establish and there are no legalities involved in setting up. Once the business is set up Vick can start trading as early as possible. An overwhelming advantage of being a sole trader is that one is not required to answer to anyone as they are the sole owners. Decisions regarding the company can be made quickly and efficiently. However, being a sole trader can have a number of disadvantages such as a lack of collective minds. The owner may not have sufficient experience or knowledge to run the business and perhaps being in a partnership would help him. Being a single owner of a business can greatly affect the social life of a person as a holiday would mean a closed office. Economies of scale are also difficult to achieve and cost of production is comparatively high. If Vick decides to go into a partnership he will have to invest less capital into the starting of the business but as such the profits from the business will also have to be shared equally amongst the partners. The variety in terms of minds in the ownership will help to enhance the business through the integration of qualities from all partners. Work can be shared and so can be the liabilities of the business. If the business does incur debt in a partnership there are fewer chances of personal assets being sold off. Once again this business form has downsides of which the first would be the lack of freedom in decision making. Contracts are also required to maintain legal constraints on the business and the profit division terms need to be defined. And if one partner wishes to either retire from the business or expires the partnership is defunct. As far as a public limited company is concerned, it will allow shareholders to have limited liability in the business and raising capital is easier as an additional issuance of debenture and

Was the conflict that took place in Finland during 1918 a war of Essay

Was the conflict that took place in Finland during 1918 a war of independence or a civil war - Essay Example The movement has become known to be a civil disobedience movement launched by the citizens of Finland but on the other hand some people deny calling it a civil disobedience movement but rather call it a war of independence fought by the citizens of Finland. Different events led to the war fought between the citizens of Finland and these shall be analyzed in this essay. The citizens of Finland were divided into the Democrats (Reds) and Conservatives (Whites) and they both fought with each other to retain power of the state. All this happened in the year 1918 when Russia itself became affected by the World War One. World War I is known to play a significant role in the independence of Finland. In my view 1918 was a year in which civil disobedience movement was launched by the two factions which ultimately led to the independence of the state. In other words the movement started as a civil disobedience movement but turned out to be a war of independence because of the events that took p lace in the World War I (Arter 1999; Jussila et al 1999; Alapuro 1998; Jutikkala et al 2003). Start of the Conflict The Civil war in Grand Duchy started in the 1918 but it could always be expected after the growing tensions between Russia and Germany in 1914. Finland had been a source of raw material, weapons and army and it was the interest of both the states from the very beginning. The German empire always had a keen interest in the state of Finland as it provided a path for entering Russia. In the nineteenth century the relations between the Finnish and Russians were quite peaceful because of which there were no conflicts in between them. However after 1899, Russia began the process of Russification in which they integrated the Russian language in all the schools of Finland and tried to enhance their military power on the Grand Duchy. This was considered as the beginning of the oppression in Finland. The relationships between Russia and Finland were thereafter not peaceful as th ey used to be. The problems were further aggravated when the Tsar of Finland Nicholas II carried out the activities of Russification in throughout the beginning of the 20th century. His policies were not famous amongst the working class people of Finland and many workers were opposing his activities. Nicholas II made the parliament a mere advisor and snatched away all the powers from the Parliament. Hence it was Nicholas II who was to decide everything on the issues of Finland. This led to the famous revolutions known as February Revolution and the October Revolution (Alapuro 1988; Jussila et al 1999). February Revolution The Russification of Finland did not stop but rather a second wave of Russification started in 1908 and it did not stop until the Finns took an action. The Russian Tsars Nicholas II was removed from the parliament in 1917 to provide all the rights to the parliament which they deserved. The February Revolution took place because of the downfall of the Russian empire in 1917 following the World War I. The power of Tsar were transferred to the Russian Duma and provisional government following the revolution. The status of Finland was revived as an autonomous state as it used to be without any interference of the Russian Empire in its policies (Smith 1955; Jussila et al 1999). After revolts in Russia the power was transferred to the four main parties in Finland which were Finnish Party, Young Finnish Party, Agarian League and Swedish People’

The Tale of Tommy Nobody (A Bird Story) Essay Example for Free

The Tale of Tommy Nobody (A Bird Story) Essay The book called â€Å"The Tale of Tommy Nobody† tackles about the experience of a young bird named Tommy, the youngest of the songthrush family, his quest for identity and disposition in the society. The adventure started when the mother songthrush Sally finally allowed her six hatchlings to leave the nest and practice how to fly. Incidentally, the youngest and the smallest among the brood is Tommy. He is the last to go, and while the others seemed to have perfectly landed on the other tree branch, Tommy winded up with a crash at a nearby bird table. Whereby, other birds crowded around him and asked â€Å"what kind of bird is he?† By then, Tommy realized that he has no idea what he is, specifically when Bobby Bullfinch reiterated that â€Å"Everyone is somebody†.   This launched Tommy’s quest of finding out who and what he really is. Tommy made conversations with birds of different characteristics. Regardless of how they sound, what their appearance is and their nature, he made an attempt to find a link between him and the other birds, just to find out if he’s â€Å"one of them.† Given the fact that he is young, he got limitless hopes and grand undertakings. Simple task for him means the answer to his identity that will determine the rest of his life.. In the story, the most striking character is Tommy. He is in the process of a major change in his life. A crossroad between childhood and adulthood. Leaving the nest and learning how to fly in search for his own identity. An obstacle that all of us went through during that fragile times in our lives. To be different and to conform, to find out your own niche and a place to belong. The challege is to get stuck or grow up at all, spiritually, intellectually and emotionally. Reference: Thompson, Ruth; The Tale of Tommy Nobody (My Nature Library, First Ed. 1982)

Money Laundering And Its Effect On Indian Economy Finance Essay

Money Laundering And Its Effect On Indian Economy Finance Essay Money laundering is the process by which money earned from illegal activities is converted to legitimate money. Money laundering has been and is taking place all over the world which in turn is affecting the economy of world. In a growing economy like India money laundering is a growing and serious problem but is mainly confined to domestic activities that are far from being only drugs related frauds, corruption and smuggling are obvious additional ones (Lilley, 2003).The governments of various nations have been taking various measures to prevent money laundering, however countries like India which is a developing country, are still suffering with the problem of money laundering as there is a lack of general understanding related to money laundering and how corrupt business and government officials exploit this ignorance for their personal benefit. Even though money laundering has been recognised as a dangerous crime by Indian legislative councils, however the lack of general underst anding and insincerity on the governments part to enforce the laws properly, the crime of money laundering is growing and having disastrous impact on Indian economy. According to estimates put forth by international accounting firms, India is estimated to have a parallel economy of nearly 40 percent of its $600 billion Gross Domestic Product. Thats some serious parallel banking system (Singh, 2009). According to Brave (2006), money laundering is the process of turning black money into white money. In India the problem of money laundering is not just limited to hard core criminals but also other division of the society such as like politicians, bureaucrats, stock brokers etc. The Indian Media both electronic as well as print media regularly report various instances of money laundering scams involving political leaders. One of most some of the prominent politicians of India accused of money laundering are the CMs of UP, Punjab and Kerala and Jharkhand. According to news report published in Indian Express, UP chief minister Ms. Mayawati was accused of laundering money by using novel techniques in order to avoid tax payment legitimately. Huge cash donations were made in her name by people who didnt existed and by fictitious people. When a CBI inquiry was ordered it was found that most of these persons who made the donations dont exist or their financial conditions were such that the y were in no positions to donate such large amount of money to her (Sarin [online] 2004). Ketan Parekh who was a stock-broker is another well known Indian who has faced money laundering charges. He was in the news primarily for his manipulative dealings in the stock of 10 companies, which included Digital, Global Tele, Himachal Futuristic, Infosys, Wipro and Zee Tele, better known as the K-10 scripts. Following a CBI enquiry in December 2002, Ketan was arrested. He was accused of transferring the money received from the BoI pay order scam to various tax heavens around the world and finally to accounts in the Swiss Banks (Barve [online] 2006). According to Jayaseelapandian (2000) if money laundering is carried away successfully it lets the criminals to have control over their money and help them cover their sources of income thus making their illegal money rightful. Money laundering plays a primary role in achieving the desires of drug trafficker, terrorist organisations, gangs of organised criminals, inside dealers, the tax evader as well as others who wish to stay away from any kind of interest from the authorities. The primary objective of engaging in this type of activity is to place the proceeds beyond the reach of any asset forfeiture laws. As per Agarwal et al (2004), the estimated value of money laundered globally using the banking route is in excess of US$ 500 billion to one trillion per year. They further state that the global money laundering also exposes a country to attacks from terrorists, which is serious threat to any countrys integrity apart from adversely affecting a countrys economy. Also, of the estimated money laundered every year worldwide using banks, half of this amount is laundered by using US banks. As money launderers are increasingly using the banking channel for laundering process, the banks have a key role to play in restricting the outbreak of money laundering. Money Laundering is not a simple process but a complex procedure involving bankers, lawyers, car dealers, real estate builders, accountants and people, who allow their business to be used by someone to launder the financial gains of a criminal activity. As stated in the above paragraphs, money laundering is a big problem and it doesnt affect just one or two countries but is present at global level specifically in developing countries like India. India where the financial sector has just been liberalized is at greater risk as criminals and people with ulterior intentions can exploit the ever growing financial sector for their corrupt activities. This project aims at bringing general awareness among the people working in financial institution, banking sectors etc about money laundering. This aim can be achieved by studying the money laundering activities taken place in India and different countries and what measures are taken to overcome it. BACKGROUND Uribe (2003) highlights that the word money laundering came into existence in the early 20th Century, but the practice of disguising income earned from unlawful activities can be traced back to the 13th Century B.C at which time the oceans and seas were used as international trade routes. With the changing profile money laundering over the years has become more and more expensive, time-consuming method to carry out and eventually risky. According to Lloyds (1997) the word money laundering originated from one of the most famous mafia Al Capone or Scarface who created a criminal organization in 1920s in the United States as a result of to their activities such as gambling, liquor profits etc. They wanted to conceal their illegal money and to do so they opened legitimate business in another country and mixed their illegal money with the white money. He further states that in 1930s mobster Meyer Lansky gave rise to number of ways to launder money in order to hide the money earned from gambling, sale of illegal alcohol etc. He understood the significance of creating businesses, as fronts for his illegal activities as well as means to launder money. He bought a Swiss bank to transfer the dirty money through different methods such as shell companies, holding companies and offshore bank account. For carrying out illegal activities casinos are one of the most notorious business fronts. In the 1940s Las Vegas was notorious fo r being a tool of money laundering, and was fully exploited particularly by Lansky and Benjamin Bugsy Seigel. It can be said that Lansky was the first to establish modern form of money laundering and tax evasion. Furthermore, Uribe (2003) states that the concept of money laundering is certainly not new. People who undertake criminal activities for financial gain have always strived to keep all attentions away from their illegal activities and profit from their efforts. Day by day the methods of disguising money earned from illegal activity is becoming sophisticated. There are numbers of reasons for this of which some are given below. The globalisation of the financial system: In todays world technological advancements in communications and transportation have allowed the cover up of crime and its proceeds to become a much easier task. In matter of seconds money received from illegal activities can be wire transferred from one financial institution to another; Crime has gone global: It is no longer enough for enforcement authorities to be aware of what is occurring within their own jurisdiction. They must anticipate and cooperate with other authorities and jurisdictions as criminal activities can spread very fast. In addition, criminals no longer have the want to be confined to one country. They have understood that in order to avoid detection by law enforcement and local authorities it is safer for them to shift their property and business between countries. Thus as a result, international criminal organisations shift property from one country to another by taking advantage of the negligent legislation present in some countries that offers safe havens for foreigners looking to hide their money. In simpler terms money laundering can be defined as converting illicit money to legitimate money. This type of money is earned from smuggling, drugs, prostitution, gambling etc. It is the process in which the money earned from criminal activities are transported, transferred, transformed, converted into legal money to hide the actual source of income (Richards, 1999). Money laundering may involve various kinds of financial institution, multiple financial transactions, and the use of intermediaries such as financial advisers, accountants etc from different countries (Schott, 2006). The people in developing countries like India dont know what money laundering is and if they are asked about money laundering they would think it is to do with washing or drying of currency notes. Money laundering was not taken as big crime in the beginning but after the terrorist activities this has been taken as a serious issue and government have started taking action to control it (Barve [online] 2006). According to Jost et al (2002) money laundering in India can be traced way back to 1985 in the Choraria case in which the British courts convicted Choraria for trafficking of controlled drug known as heroin. Choraria was a banker who enabled payment for heroin imported to Britain illegally to be transferred to India. He had opened two legal businesses one was import/export and the other was a remittance business and part of the remittance business was Hawala. He had dealers transferring the funds in Karachi and Mumbai as part of heroin smuggling. Kumar (2003) highlights that India was one of the first countries in the world to introduce anti-money laundering legislation, way back in 1939 which was a wartime measure, in 1973 FERA (Foreign exchange control Act) came into force; more recent laws include the Foreign Exchange Management Act 1999 and the Prevention of Money Laundering Act 2002. But despite these laws in place, it was never forced in earnest. Laws such as FERA and now FEMA are regularly used by politicians to settle political scores against each other. AIM AND OBJECTIVES The aim of this project is to bring general awareness among the people working in financial institution in India regarding money laundering and how it is perpetuated and to fill the vacuum created by lack of training and research material related to the topic. Hence creating an environment where exploiting in the situation by corrupt officials and powerful people becomes more difficult and the potential damage to the economy can be minimized. Thus the following objectives would be studied to achieve the aim . Identify and analyze the process of money laundering and also research over the origin, core concepts and the evolution of money laundering with emphasis on Hawala or Hundi. Identify the factors which are providing impetus to the crime of money laundering. Why Anti Money Laundering laws are needed. Identify and research the current AML (in brief) in place around the world. Identify and discuss regulation of money laundering laws in India Gathering domain expert views over the running practicality of money laundering laws globally in general and specifically in India. . LITRETURE REVIEW Uribe (2003) highlights that the word money laundering came into existence in the early 20th Century, but the practice of disguising income earned from unlawful activities can be traced back to the 13th Century B.C at which time the oceans and seas were used as international trade routes. With the changing profile money laundering over the years has become more and more expensive, time-consuming method to carry out and eventually risky. According to Lloyds (1997) the word money laundering originated from one of the most famous mafia Al Capone or Scarface who created a criminal organization in 1920s in the United States as a result of to their activities such as gambling, liquor profits etc. They wanted to conceal their illegal money and to do so they opened legitimate business in another country and mixed their illegal money with the white money. He further states that in 1930s mobster Meyer Lansky gave rise to number of ways to launder money in order to hide the money earned from gambling, sale of illegal alcohol etc. He understood the significance of creating businesses, as fronts for his illegal activities as well as means to launder money. Furthermore, Uribe (2003) states that the concept of money laundering is certainly not new. People who undertake criminal activities for financial gain have always strived to keep all attentions away from their illegal activities and profit from their efforts. Day by day the methods of disguising money earned from illegal activity is becoming sophisticated. Money Laundering Process Money laundering is the process of changing the source and ownership of capital and assets earned through criminal activities to a legitimate source (Great Britain, 2009) According to Hopton (2006) Money laundering can be done in many ways. It can be a simple method or a complex method which could include international businesses and investments. However, as per the law money laundering has been defined in three stages namely placement, layering and integration. Placement: As per Molander et al (1998) placement is the first step in the money laundering process wherein the money earned from illegal activities is processed in the financial system. In this process the illicit takings is most open to detection. Gilmore (1999) highlights that the main aim of this stage is to move the money from the place it has been earned so as to avoid detection from the authorities. In this stage it has the greatest risk as the dirty money is deposited in financial institutions or used to buy asset. Once the money is forwarded to the financial institution placement takes place. Furthermore, Schneider et al (2008) states that placement can be done in many ways namely primary deposit in which people know that it is the right time to put illegal earnings into a legal financial system without drawing attention of regulatory agencies. The money is separated in limited amounts so that no identification or documentation is required while depositing the illegal money. The other method of placement is by opening new bank accounts in different countries also the corrupted co-workers are used as a way to place illicit money. When money is deposited in banks abroad it helps to enter financial or economic cycle. Another way of placement is through secondary deposit wherein the illicit money is transferred indirectly in the bank system thus converting it into legal money with the help of legal person. The name of unknown individual who work for them is used to open up new accounts, buy assets, open up a company etc. Indirect placement can also be accomplished by forward displacement of the money laundering location onto life insurances, financial service provider and exchange offices Layering: According to Chaikin (2008) this stage involves separating of illegal money from its origin by involving many layers of financial transactions and transfers. As per Gilmore (1999) it is the converting of dirty money to clean money in which the cash is split through various methods which are specially designed to cover the dirty money. It helps to cover the audit trail and provides secrecy. Layering is achieved by purchasing assets of high value such as diamond or by moving money into banks abroad or by overbilling of the value of imported goods. This stage is also known as agitation stage. Moreover, Schneider et al (2008) states that due to the electronic payment system and lack of efficient criminal prosecution helps to make layering process possible. Integration: Gilmore (1999) states that this stage takes place once the layering process is successful. The money is transferred back to the launderer as clean money and is mixed with legitimate economy and financial system. Integration process is generally achieved by setting up unknown institution in places where secrecy is assured. New forms of businesses give way to integration process such as a person can open a webpage and change his dirty money to clean money by showing income from the webpage. Figure1 shows the stages of money laundering. Figure 1: Stages of Money Laundering (Source: http://money.howstuffworks.com/money-laundering1.htm) In India the Reserve Bank of India (RBI) panel suggests that the existing anti money laundering laws needs to be strengthened. They have proposed strict rules to fight money laundering activities and according to which the banks need to improve the procedure and policies for creating proper customers profile and coordinate an cooperate with regulatory and other authorities. According to the panel, to stop money laundering the banks working in India must check the sources of funds in deposit schemes offered to expatriate Indians. The banks should appoint anti-money laundering compliance officer to check and maintain profiles of customers. A data bank for suspicious transactions should be created and forwarded to banks to help them identify the method of doubtful behaviors. The anti money laundering software was launched in India on 17th of September 2003 by Infrasoft Technologies known as OMNI Enterprise, which was first software adopted by India globally (Agarwal et al, 2004). Estimating how much money is actually laundered in the United States, or any other country, or globally is extremely difficult. Money Laundering is a largely secretive happening. The exact number of launders that operate every year, how much money they launder in which countries and sectors, and which money laundering techniques they use is not known (Brigitte Unger, 2007). However, a sustained effort between 1996 and 2000 by the FATF to produce such estimates failed. In fact, no direct estimates exists of how much money passes through the financial system, whether broadly or narrowly defined, for the purposes of converting illegal gains into a non-traceable form (Peter Reuter and Edwin M. Truman,2004). John Walker (1995) was the first to make a serious attempt at quantifying money laundering and initial output. His model suggests that US$2.85 trillion are laundered globally. As per an estimate of the International Monetary Fund, the aggregate size of money laundering in the world could be somewhere between two and five percent of the worlds Gross Domestic Product. While it is impossible to state how much money is laundered every year with authority, it is estimated that US$300 billion to US$500 billion in proceeds from serious crime (not tax evasion) is laundered each year (Scott, David. 1995). Though data on the size of money laundering is scant, UK and US officials estimate that the amount of money laundered annually in the financial system worldwide was roughly $500 billion some 2% of global GDP (Quirk, Peter J., 1997). According to international accounting firms, India is estimated to have a parallel economy of nearly 40 percent of its $600 billion Gross Domestic Product (Sing h, 2009). Table 1: lists several specific estimations of the value and extent of money laundering worldwide. Publication year Estimation year Estimation of Global ML Source 1995 1995 US$100-500 billion John Walker 1998 1997 US$ 300-500 billion U.S. Department of State 1998 1998 2-5% of the global GDP Michel Camdessus IMF 2002 1998 US$ 800 billion to US$ 1.5 trillion Simon Maylam 1998 1998 US$ 2.85 trillion John Walker 2004 US$ 45-280 billion Reuter and Truman 2005 US$ 1 trillion Baker 2008 US$ 1.425 trillion AUSTRAC 2009 2-5% of the global GDP (US$ 800 billion to US$ 2 trillion) UNODC (Source: Alkaabi et al, 2010) Hawala According to Fritsch et al (2001) the Hundi system can hardly be tracked and was developed many centuries before by bookkeepers who were keen to prevent bandit attacks on transcontinental caravans. In this system the money changer takes money from its customer to transfer it to another person in a foreign city which is often done within a day. The changer calls a colleague in the receivers country to deliver the money. To receive the money the beneficiary needs only a receipt which is generally a bank note or a code word mailed by the sender. This method is guaranteed not by fixed assets but by fear. Moreover, in Hawala system Bank notes and pictures are torn in half, and one half is given to the customer and the other is mailed to the beneficiary. The two halves needs to match for the transfer to be completed (Nove, 1991 cited in Carroll, 2007) However, Lilley (2003) highlights that Hawala or Hundi is a substitute or parallel process of transferring money. It exists and runs outside of, or parallel to, traditional banking or financial systems. Hawala was established in India before the Western banking system was introduced, and is one of the most common methods used In India and around the world to launder money. This system provides secrecy as there is no paper work and is based on trust. The money is not transferred physically. In this system the client goes to the broker in one country and asks to make payment to another person in another country. The broker then calls his coworker in the destined country and asks to make payment to the recipient. As a result no paper work is done and is based on trust. The funds are physically transferred at a later stage between the brokers. Furthermore, Mirza (1996) cited in Carroll (2007) states that in the Hawala system transfer of money is confirmed through telephone, email and fac simile. This method even offers pick-up and delivery of money. Dougherty (2006) highlights that Hawala is a value transfer system which has been in use for 1200 years. It can be said as a poor mans Western union wherein they pay 1% of the value sent. It is described as informal value transfer system and is recognized as alternate remittance system. As this method of transferring fund is very difficult to track, it is estimated that $100 billion to $300 billion of money is laundered through them every year. He further states that according to Interpol, with language that leaves and error, Hawala system of remittance can be said illegal in India. As per the law in India the conception of Hawala, such as transfer of value is illegal but more than that under the jurisdiction of foreign currency exchange laws, when Hawala deal includes foreign currency it goes beyond the line of illegality. Hawala can be used in any stage of money laundering for instance in the placement stage the customer can give the money to the broker. In the layering stage the m oney can be separated from the source and leave a puzzling or nonexistence trial and in the integration stage the money transferred from one country to another is difficult to track using Hawala. Hawala system helps in converting illegal money into legal money. The word Hawala is an Arabic word which means moving of money or information from one person to another using the help of third person. This method of transferring money is not traceable by authorities as no paper work is left behind. To launder the money the profits made out of Hawala transactions are put in real estate, films etc (Devi et al, 2010). Also, Hawala is assumed to be used by terrorist to transfer assets (Fernandes, 2002). One of the well known Hawala or foreign exchange case in India was the S. K. Jain (a Hawala broker) case who was arrested in 1991. Huge amount of Indian and foreign currency, some notebooks and a diary was discovered during the searches done in his and his familys property. The diary contained the initials of high level politicians to whom large amount of money were said to have been paid illegally (Wescott et al, 2009). Furthermore, Chopra (1996) highlights that the diary which was found during the search listed a sum of $18 million that was given to the government officials. Although Hawala is illegal in India, it is the corrupt politicians who give rise to such method. Factors which are providing Impetus to the Crime of Money Laundering (Vijay Singh) Many reasons can be attributed to the rising instance of money laundering around the globe of which some are given below. No agreements for sharing tax information with other countries Availability of instant corporations Corporate Secrecy Laws as the corporate law of certain countries enable launderers to hide behind shell companies. Excellent Electronic Communication internet, mobile phones, phones Tight Bank Secrecy Laws A Government that is Relatively Invulnerable to Outside Pressures A high degree of Economic Dependence on the Financial Services Sector A Geographical Location that Facilitates Business Travel to and from rich neighbors. Increase in sophistication and employment of professional people for doing the task. The politician-criminal nexus The lack of effective control over contributions to political parties and election expenses. This enables criminal elements to use their contributions to the political process as a safe channel for money-laundering and for gaining political influence to incapacitate the intelligence and investigating agencies so that they cannot effectively act against them(Raman, B., 2009). According to Agarwal et al (2004) Money Laundering is more vulnerable in the private banking sector due to the following six reasons thus giving rise to instances of money laundering. Private Bankers as Client Advocates The main players in private banks are the bankers who are trained to serve their customers. They open up accounts and move the money around the world using secret tools and financial systems. The private bankers are encouraged by their banks to create personal relationship with their customers by visiting their homes and organizing their financial affairs. As a result of this the private bankers may feel loyal for their customers and may avoid the controls made to detect or stop money laundering. Powerful Clients The customers of private banks may use political or economic power because of which the banks become concerned to fulfill their needs and ask very few questions. Also if the customer is a government employ with control over the banks in country procedure, the bank has grounds to evade fraud. Culture of Secrecy In a private bank secrecy is maintained and one of the examples is that in Swiss banks, accounts are opened by using numbers. Also, the private banks and clients use many levels of privacy to hide accounts and transactions. They open up shell companies to hide the identity of the owner of the bank account and also open up accounts in code names. Secrecy Jurisdictions Some private banks follow business according to secrecy jurisdiction and if the banking information of the client is disclosed it may be illegal and action can be taken against it. Culture of Lax Control At the time to follow the anti-money laundering controls it is the private banker who is asked to check the enforcement of anti money laundering controls. They check the history of their prospective customers and also monitor existing accounts for any fraudulent activity. Also, they are the ones to open any new account and increase client deposits. The private bankers become the advocate for their customers and do not follow the procedure to check their transactions. They do not ask enough questions about their funds and do not record the information provided in a proper form. Cut Throat Competition As a result of competition in the private banks for clients to increase their profitability, money laundering problem is increased.