Money Laundering in A Changed World - Part I

Written by Sam Vaknin


Israel has always turned a blind eye torepparttar origin of funds deposited by Jews from South Africa to Russia. In Britain it is perfectly legal to hiderepparttar 106723 true ownership of a company. Underpaid Asian bank clerks on immigrant work permits inrepparttar 106724 Gulf states rarely require identity documents fromrepparttar 106725 mysterious and well-connected owners of multi-million dollar deposits. Hawaladars continue plying their paperless and trust-based trade -repparttar 106726 transfer of billions of US dollars aroundrepparttar 106727 world. American and Swiss banks collaborate with dubious correspondent banks in off shore centres. Multinationals shift money through tax free territories in what is euphemistically known as "tax planning". Internet gambling outfits and casinos serve as fronts for narco-dollars. British Bureaux de Change launder up to 2.6 billion British pounds annually. The 500 Euro note will make it much easier to smuggle cash out of Europe. A French parliamentary committee accusesrepparttar 106728 City of London of being a money laundering haven in a 400 page report. Intelligence services coverrepparttar 106729 tracks of covert operations by opening accounts in obscure tax havens, from Cyprus to Nauru. Money laundering, its venues and techniques, are an integral part ofrepparttar 106730 economic fabric ofrepparttar 106731 world. Business as usual?

Not really. In retrospect, as far as money laundering goes, September 11 may be perceived as a watershed as important asrepparttar 106732 precipitous collapse of communism in 1989. Both events have forever alteredrepparttar 106733 patterns ofrepparttar 106734 global flows of illicit capital.

What is Money Laundering?

Strictly speaking, money laundering isrepparttar 106735 age-old process of disguisingrepparttar 106736 illegal origin and criminal nature of funds (obtained in sanctions-busting arms sales, smuggling, trafficking in humans, organized crime, drug trafficking, prostitution rings, embezzlement, insider trading, bribery, and computer fraud) by moving them untraceably and investing them in legitimate businesses, securities, or bank deposits. But this narrow definition masksrepparttar 106737 fact thatrepparttar 106738 bulk of money laundered isrepparttar 106739 result of tax evasion, tax avoidance, and outright tax fraud, such asrepparttar 106740 "VAT carousel scheme" inrepparttar 106741 EU (moving goods among businesses in various jurisdictions to capitalize on differences in VAT rates). Tax-related laundering nets between 10-20 billion US dollars annually from France and Russia alone. The confluence of criminal and tax averse funds in money laundering networks serves to obscurerepparttar 106742 sources of both.

How to Use Consultants Effectively - A View From the Other Side

Written by Carol Verret


I know that everyone out there sees these articles written by consultants and says to him or herself, "That’s nice - but how does that apply to me?" All organizations reach a point at some time when they are aware that they could be doing things better or differently. One or several areas ofrepparttar operation are not achieving their goal or are not functioning as efficiently as they might. The Corporate Office, General Manager andrepparttar 106722 Department head may aware ofrepparttar 106723 problem but unable to offer or formulate an effective remedy. This is whererepparttar 106724 timely employment of a consultant can reap measurable returns.

The issue or problem may be short-term. For example, a property or a group of properties may be undergoing a franchise change. To effectively managerepparttar 106725 change and maximizerepparttar 106726 opportunity will require an intense effort, analysis and focus that will stressrepparttar 106727 existing organization’s resources and potentially jeopardizerepparttar 106728 well being ofrepparttar 106729 rest ofrepparttar 106730 operation. This is a situation where a consultant can assist in managingrepparttar 106731 change untilrepparttar 106732 conversion is complete andrepparttar 106733 newly franchised properties have stabilized.

Another example is when a position is stubbornly vacant andrepparttar 106734 right candidate has yet to materialize orrepparttar 106735 position is such that it can be effectively filled on a part-time basis. To leaverepparttar 106736 position vacant is hurtingrepparttar 106737 operation but to make a hasty decision has long-term consequences. This is an illustration of how a temporary arrangement with a consultant can keeprepparttar 106738 operation moving smoothly until a position can be permanently filled.

In other situations,repparttar 106739 issue may be more long term andrepparttar 106740 effective use of a consultant on an ongoing basis may be a cost effective solution torepparttar 106741 problem. For example, a smaller organization may not haverepparttar 106742 resources of a larger company in oversight or training. The example comes to mind of a small company in which several hotels are seeing market share and REVPAR index slide and need assistance to turnrepparttar 106743 situation around and provide ongoing support. Where there is no corporate regional Director of Sales or for those regional DOSs whose time is already spread thin, a good consultant can fill that requirement on an ongoing but part-time basis at a rate of remuneration far less thanrepparttar 106744 addition of a permanent, full time staff member.

The list of potentially problem areas is relatively endless and includes any number of operational, technical and customer service areas. A consultant allows you to hire a level of expertise that you might otherwise not be able to afford.

But lest you think that this is self-serving -- allow me to providerepparttar 106745 view fromrepparttar 106746 other side; what makes a ‘consultant-client’ relationship work forrepparttar 106747 benefit of both. A good consultant-client relationship is a professional marriage. A consultant wants to provide value torepparttar 106748 client but recognizes that it requires a bit of work on both sides. Let me share with you how to maximize a consulting relationship:

The Chemistry Thing. Once you have identified one or more consultants who may be qualified to assist you in your problem area, have a telephone conversation with each. As is any relationship, chemistry is an issue. You know if this person has a style that will compliment and mesh with yours and that ofrepparttar 106749 people in your organization. Not every client and consultant hasrepparttar 106750 chemistry required to getrepparttar 106751 job done, no matter how qualifiedrepparttar 106752 consultant. Ask for references and examples of how they successfully assisted other clients in similar situations.

Analyserepparttar 106753 issue. Most consultants are willing to do this for expenses or a minimal fee. A good consultant is set of ‘fresh eyes’ -- someone who can give you an objective opinion ofrepparttar 106754 elements ofrepparttar 106755 situation and recommendations for a resolution. However, resistrepparttar 106756 urge to ‘shootrepparttar 106757 messenger’ if their analysis does not exactly agree with your perception. Some clients simply want an echo ofrepparttar 106758 conclusion they have already drawn to validate their own opinion. This is fine as long as you are willing to pay for it.

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