Question

Case Study

Introduction

Search for a money laundering case recently discussed in the news media. The case can be currently open or closed. Anyone of several corporations or corporate officials in the recent news media that are being investigated or criminally charged by the government will do. Try to find sufficient information and detail about the perpetrators to enable you to thoughtfully speculate about the motivations for their crimes.

Note: The case should be recently discussed, within 1 year.

Whatever criminological insights you bring to bear on these speculations will help you do better on this assignment.

Assignment Guidelines:

Define the major problem or problems. Problems cause symptoms. For example, stress causes the symptom of high blood pressure. Often, the symptoms are directly described in the case, whereas the problems usually are not. If necessary, indicate how the problems are related to one another. Here is where you can include responses to the question: What has happened to the key players since the events in this case?

Use appropriate references supporting the problem definition and subsequent experience of key players (avoid using blogs or Wikipedia). Analyze the situation. Explain the mechanisms that are causing the problem or problems. Use appropriate theories to show how the problems identified above cause the symptoms of ineffectiveness in the case. Present examples found in the case study that support your argument.

Here is where you should include responses to the question: Were the consequences they experienced as a result of their role appropriate under the circumstances and why? Use appropriate references supporting the analysis of the situation. Integrate theories and concepts from the course material (avoid using blogs or Wikipedia). Present the solution. Develop a structured plan of action. Who is to do what, and when? Solutions should follow logically from analysis—treat the problems, not the symptoms. What are the expected outcomes (both positive and negative) of the solution? What aspects of the problem remain unresolved by your solutions?

Here is where you should include a response to the question: What preventive and detective controls can be put into place to prevent this from happening again? Use appropriate references supporting the recommended solution. Integrate theories and concepts from the course material (avoid using blogs or Wikipedia).

Presentation Guidelines:

• Do not rehash the minutia or details in the case.
• Give an analysis, not a description.
• Use and apply theories and concepts from the course material; integrate course material where it is useful. Include at least two references other than the course text. Be thorough.
• Be careful. Make sure to avoid plagiarism and to use quotation marks and proper citation as required.
• The length should be 800 to 1,200 words and double-spaced.
• Use APA format for citations and the required References page. Remember that the significant portion of your analysis should be in your own words.

Grading Guidelines:

• 45 points: Content and Development
• 25 points: Organization and Structure, Format (APA), Grammar, Punctuation, Spelling, and Readability
• 70 points total

Answer 1

Money Laundering Mechanisim: This is one kind of criminal activity, which is agaisnt the legal parameter earning money or a source of income.

How money laundering works: This mostly used by terrorists who get funded by huge amount of money. The criminals need a way to deposit the money in legitimate financial institutions. The process of money laundering involves three steps like,

i. Palcement : puts the "direct money" into the legitimate financial system

ii. layering : conceals the source of the money through a series of transactions and bookkeeping tricks  

iii. integration   : Here laundered money is withdrawn from from the legitimate account to be used for whatever purposes the criminals have in mind for it.

The most common techniques of money laundering like,

"Cash based business owned by a criminal organisations"  

Structuring : the criminals breaks large chunks of cash into multiple small deposit, often spreading them in many accounts to avoid detection.

Other menthods like : inevsting in commodities such as gems & gold, that can be moved to other jurisdictions

Electronic mode of money involves cryptocurrencies, such as Bitcoin.

Preventing Money laundering :

Governments around the world initiated action to combact money laundering. Anti-money-laundering laws (AML) have been initiated to catch hold different types of cybercrimes.

The United States passed the Banking Secrecy Act in 1970, requiring financial institutions to report certain transactions to the Department of the Treasury, such as cash transactions above $10,000  or any others they deem suspicious, on a suspicious activity report (SAR). The information the banks provide to the Treasury Department is used by the Financial Crimes Enforcement Network (FinCEN).

What is the USA Patriot Act

The USA Patriot Act is a law passed shortly after Sept. 11, 2001, terrorist attacks in the United States, giving law enforcement agencies broad powers to investigate, indict and bring terrorists to justice.

Considering the intensity & gravity, this is a serious threat to the mankind. Hence all countries must joint hands to arrest such activities & take immediate action.