Money Laundering

launder money and make illegally profits seem legit and how it is. In this paper we will explain

In the past few years, enterprise integrity has come up on a regular subject of conversation. In the past ten years only, we have seen numerous situations associated with collaborative scams which have shaken the people 's trust in businesses and also the general economic climate. A few of the many salient frauds are the WorldCom and Enron 's scams, the ponzi scheme perpetrated by Bernard Madoff 's, the latest accusations of Goldman Sachs tricking option traders to guarantee the company 's personal profit. Incidents such as these designed us all, as upcoming corporation professionals as well as market leaders, think about ethics and its particular function in the commercial world (Gross, 2010.)

As many things in life, ethics has evolved through the history of our society. As anyone who has ever has read the news can attest, there are certain behaviors and tradition typical in societies around the world that may seem unethical and, sometimes, inhuman when seen through our ethical point of view. However, we often forget that many of those behaviors and tradition were, not only accepted, but expected in our society at one time. As our society changes over time, our moral code and compass shifts changing our outlook and tolerance for certain behaviors. And, as in other aspects of our society, the way we conduct business is no different.

millions of dollars of structured settlements at a discounted price so that he could generate

Drug trafficking is a major problem in the United States. More than 100,000 people are killed each year and everyone is affected. Communities are destroyed, families split apart, and billions are spent trying to keep it out.

Drug crimes happen to violate state or federal drug laws from possession, manufacture, use, or distribution. Trafficking does impede national currency of transactions seeing as, “both the federal government and many states criminalize drug trafficking and broadly define it as the trade or dealing in illegal substances” (Tran, 2016, para. 2). Its seriousness will confront some measurement by a range of economic damage, loss to victims, and so on. Ultimately, some elements bring an allowance of illegal narcotics or controlled industrial compounds to circulate within the U.S. government.

International drug trafficking cause a MULTITUDE of problems for many people. When a person overdoses from drugs, it doesn't just stop there, this person might have been a dad for example. This child could find themselves in foster care, run away and start drugs themselves, causing the whole problem with their father to start again on them. Drug trafficking can also force harder measures for immigrants; with all of the trafficking going on, more suspicion is brought back. It make it that much harder for immigrants to get into the country that they desire, like the U.S., and they might truly need the help. It is so difficult for authorities to try to dismantle drug trafficking because every where you go, drugs seem to pop up. Anyone can have

Madinger (2011) Argued that Civil asset forfeiture is the driving force behind money-laundering today is forfeiture.

That is their criminal efforts, but the economic problem arises when the cartels must transfer the cash back to Mexico. The IRS requires that any deposit made over $10,000 has a bank receipt that goes along with the transaction (ICE). When cartels are depositing very large amounts of money, they must make inconspicuously, large amounts look believable. “Traffickers will send drug proceeds through various wire transfers to different accounts in different names in different countries, all the while varying the amount of their deposits and withdrawals to make the paper-trail harder to follow” (Woody).

“Panama Papers: The Real Scandal Is What’s Legal” by Brooke Harrington was written on April 6th, 2016 and published in ‘The Atlantic’. In this article, Harrington stresses the idea that tax avoidance and offshore finances are entangled with the acts of many governments seeing that it is what stabilizes the economic growth of a country. The author discusses the link between the Panamanian wealth management firm Mossack Fonesca, to a numerous amount of financial crimes. The “Panama Papers” are documents that consist of firms who are allegedly involved in fraud, money laundering, and theft. No country would even think to create strict laws towards ending tax evasion because it would hurt several economies and firms like Mossack Fonesca whose

Money laundering is connected to drug trafficking because the individuals who are handling the drugs do not want to get caught, therefore attempt to move their funds into an actual business to seem legitimate (Abadinsky, 2014). Since the money drug traffickers generate through sales is technically illegal money, they turn to money laundering to protect the revenue (Abadinsky, 2014). “Money is laundered through currency exchange houses, stock brokerage houses, gold dealers, casinos, automobile dealerships, insurance companies, and trading companies” and much more (Abadinsky, 2014, p. 252). When money from drug trafficking is placed in

Most drug dealers would lose a great deal of business if not all. The illegal drug trade is the financial engine that fuels many terrorist organizations around the world (fff.org). What makes the drug trade such a success is the efforts of the United States to dispel illegal drugs. Legalization would reduce prices and open competition, eliminating the multibillion-dollar industry that supports crime at all levels.

Ethical business behavior can be defined by business leadership. “Generally speaking, an action or choice can be considered ethically correct if it’s honest, fair, supports a beneficial outcome for both parties, and generally enables the overall corporate image and vision” (Definition of Ethics, 2002). In the following we will discuss how economic pressures on China, Jamaica, and America play a role in the ethical decision-making for financial, environmental, and cultural issues.

The Proceeds of Crime (Money Laundering) Act was amended in December, 2001 to become the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). They detect and deter money laundering in Canada. They also respond to threats by crimes. Under the law in Canada, money laundering and Terrorist Finance Act is An Act to facilitate combating the laundering of proceeds of crime and combating the financing of terrorist activities, to establish the Financial Transactions and Reports Analysis Centre of Canada and to amend and repeal certain Acts in consequence. If found guilty of not reporting any suspicious transactions may result in criminal and/or administrative penalties. According to the Financial Transactions and Report

Ethical issues have greatly transformed in our lives since the great Enron, Xerox and other huge corporations proposed big profits showing earnings of billions of dollars and yet in reality facing bankruptcy. These corporations faced great trouble with the federals and state for manipulating financial statements. But not only corporations can be blamed on this, accounting firms were involved in this as much as the corporations were. With the business stand point, ethics comprises of principles and standards that guide behavior. Investors, traders, customers, and legal system determine whether a specific action is ethical or unethical. Ethical issue is a vast subject, but we will look at the niche