Money Laundering Essays - Money Laundering, Financial Regulation

Money Laundering Money Laundering The word money laundering, according to the myth, is derived from Al Capone's practice of using a string of coin-operated launderettes in Chicago to disguise his revenues from gambling, prostitution and protection rackets. It's a nice story but not true, money laundering is so called because it perfectly describes the process of removing the stains and smells which money acquires when criminals earn it. In this report I will go on to discuss the topic of money laundering in the following order; firstly, I will begin by explaining what is money laundering?, why it is done?, and how it is done? I will then go on to explain the effects of money laundering and the institutions/organisations that are at risk from these activities. I will also be discussing the current situation in the UK regarding money laundering and whether anything can be done to prevent or restrict laundering activities, and will then go on to conclude my findings. Money laundering is the process by which criminals attempt to conceal the true origin and ownership of the proceeds of their criminal activities. If they are successful they can then maintain control over the proceeds and, so, provide a legitimate cover for their source of income. J.D. Mclean defined money laundering in the International Judicial Assistance as: Although the proceeds of crime will be kept as capital for further criminal ventures, the sophisticated offender will wish to use the rest for other purposes. If this is to done without running a risk of detection, the money which represents the proceeds of the original crime must be laundered; put into a state in which it appears to have an entirely respectable provenance It is important to bear in mind that money laundering is a process (often a highly complex one) rather than a single act. In an effort to expose and analyse this phenomenon it has become common to use a three-stage model which encompasses an ideal money laundering scheme. The three stages are as follows: * Placement Stage This is where cash derived directly from criminal activity (e.g. from sales of drugs) is first placed either in a financial institution or used to purchase an asset. * Layering Stage The stage at which there is the first attempt at concealment or disguise of the source of the ownership of funds. * Integration Stage The stage at which the money is integrated into the legitimate economic and financial system and is camouflaged with all other assets in the system. Money launderers try to prevent authorities from tracing the source of their ill-gotten gains by moving their funds around financial and economic system. The funds are then spent as if they were legitimate money. The more blatant by the money launderer will directly involve a person or a business in the crime. i.e. A launderer could simply ask someone for permission to use their account for deposits in return for a fee. Another scenario is for the money launderer to approach a business and ask them to set up transactions in which a sum of money is regularly deposited in the company's account. The business will then send the money back as a fictitious payment for non-existent goods. Although this method is very popular amongst the criminal underworld, there are other ways of laundering money without a business becoming aware of being involved in a crime. e.g. The money launderer could place an order for an industrial machine/robot to be manufactured to a specific standard. The company may ask for a 60% deposit with the understanding that the order won't be put through for three months. Before the three months are up the money launderer cancels the order and gets the deposit refunded minus a penalty. The money launderer will always be willing to pay the penalty because although he/she will want to get as much back as possible, what he/she really wants is the money back clean. Money Laundering is said to be the third biggest industry by value world-wide. Research in the USA has shown that 90% of currency bills in circulation are contaminated with narcotics. In the UK, similar research showed 40% to be contaminated. In 1994, about 15,000 suspicious transactions were reported to the National Criminal Intelligence Service's (NCIS) economic crimes unit. About one in five was found to have some criminal connection. In the UK the following organisations are most vulnerable to fall prey to the money launderers: * Deposit-taking institutions Because of the money launderers need to get rid of cash, deposit taking institutions are particularly vulnerable to being used. i.e. Banks, Building

Environmental Microbiology Lab Report Essays

Environmental Microbiology Lab Report Essays Environmental Microbiology Lab Report Paper Environmental Microbiology Lab Report Paper Materials Distilled water Test tube 6 Unopened packages of 1 sterile cotton swab 2 sterile nutrient agar Petri dishes 1 sterile blood agar Petri dish Incubator Refrigerator Bunsen burner Gas connection Plastic tubing Inoculating loop 12 sterile glass slides Wax pencil Igniter Crystal violet dye Grams iodine Ethyl alcohol Seafaring dye Paper towels Wire rack Sink Brightened compound microscope Lens paper Immersion oil Pen and paper Methods I. Collecting the environmental specimens: 1. Place some distilled water into the test tube. 2. Open one package of sterile cotton swabs by peeling apart the packaging at the top. Do not peel the package apart completely, just at the top. 3. Take out the cotton swab, dip it into the test tube of distilled water, and place it back into the original package with the cotton tip facing down. 4. Repeat the previous two steps for three more unopened packages of sterile cotton swabs. 5. Choose four locations from which environmental samples can be taken. For example, use the bottom of a shoe, a light switch, or a sink handle). Write these locations down on a piece of paper and number them El -EH for later reference. (For example, El is the sink handle). 6. At each location, take out one of the wetted sterile cotton webs and rub it against a small area of the surface being sampled. Make sure to turn the swab as well to ensure that the sample is on all sides of the cotton swab. After swabbing, p lace each swab back into its original package, with the cotton tip facing downwards. Keep track of which swabs were used for which samples. Label them if necessary. II. Collecting the throat and nose samples: steps for one more unopened package with a sterile cotton swab. 5. Take one of the wetted sterile cotton swabs and rub it against the inside of ones nose. Make sure to turn the swab as well to ensure that the sample is on all sides of the tone swab. After swabbing, place the swab back into its original package, with the cotton tip facing downwards. 6. Repeat the previous step, but instead take a sample from the back of the throat. Ill. Aseptic transfer of the environmental specimens: 1. Take the two nutrient agar Petri dishes and turn them bottom side up. Then, using a wax pencil, draw a line down the middle of each dish. Label each of these four sections El, EH, EH, EH so that the origin of each sample is known for later. 2. Take out one cotton swab that was used on an environmental surface out of its packaging. Keep this swab in one hand. . With the other hand, open the lid of one sterile nutrient agar Petri dish slightly at an angle. 4. Take the cotton swab in the other hand and gently swab it against the appropriately labeled half of the nutrient agars surface evenly. . Close the lid of the nutrient agar Petri dish and place the cotton swab back into its packaging. Dispose of the cotton swab and package in the appropriate container. 6. Repeat the previous four steps for the other three cotton swabs used on the environmental surfaces. Make sure to use the appropriate swab for the appropriately labeled section of the Petri dish. 7. Place the two inoculated nutrien t agar plates into the incubator in an inverted position, or with the lid facing downwards, to prevent condensation on the agars surface. IV. Aseptic transfer of the nose and throat specimens: 1. Take the one blood agar Petri dish and turn it bottom side up. Then, using a wax pencil, draw a line down the middle of the dish. Label each of these two sections N and T so that the origin of each sample is known for later. 2. Take out the cotton swab that was used on the inside of the nose out of its packaging. Keep this swab in one hand. 3. With the other hand, open the id of the sterile blood agar Petri dish slightly at an angle. 4. Take the cotton swab in the other hand and gently swab it against the appropriate half 5. Close the lid of the blood agar Petri dish and place the cotton swab back into its packaging. Dispose of the cotton swab and package in the appropriate container. 6. Repeat the previous four steps for the other cotton swab used on the back of the throat. 7. Place the inoculated blood agar plate into the incubator in an inverted position, or with the lid facing downwards to prevent condensation on the agars surface. V. Making heat fixed bacterial smears of all the samples: . Take the twelve sterile glass slides and label their corners using the wax pencil. Use the igniter to ignite the Bunsen burner flame. 6. With one hand, take the inoculating loop and pass it through the flame until it is red 7. With the other hand, open one of the Petri dishes slightly. 8. Take the sterilized inoculating loop and lightly touch it to one of the colonies on the agars surface. 9. Close the Petri dish lid and take the inoculating loop and gently smear it in the drop of water on the appropriately labeled slide so that it coincides with the sample you took from. Smear from side to side to create a thin film. Let this slide air-dry. 10. Pass the inoculating loop through the flame again until it is red-hot. 1. Repeat the previous eight steps for the rest of the samples and slides. Remember to take two samples from each of the six locations, each from a different colony. Also remember to place the colony samples on the appropriately labeled slide. 12. Once the twelve slides have dried, pass each one through the Bunsen burner flame once or twice. Do not hold the slide in the flame, as this will cause the sample on the slide to burn. 13. If the nutrient gar and blood agar Petri dishes are going to be used again, place them in the refrigerator, if not, place them in the appropriate container. VI. Gram staining all of the samples: 1 . Separate the twelve heat fixed slides into three groups of four. This makes it easier to apply the dyes to the slides for the appropriate amount of time. 2. Take one of the three groups of heat fixed slides and place them on the wire rack on top of the sink. 3. Take the crystal violet dye and apply it to the slides on the rack generously, making sure to cover the entire slide. Leave the crystal violet dye on the slides for thirty seconds. . Rinse the crystal violet dye off of the slides with distilled water, and place the slides back onto the wire rack. 5. Place the Grams iodine generously onto only one of the slides and let it sit for ten seconds. Rinse the slide immediately with distilled water and return it to the wire rack. Repeat this step for the other three slides, making sure to do each slide individually to ensure that the Grams iodine does not stay on the slide for more than ten seconds. 6. Take one slide and hold it at an angle over the sink. Take the ethyl alcohol and carefully place ten drops of it onto the slide, allowing it to slide off quickly. Immediately rinse the slide with distilled water and place it back on the wire rack. Repeat this step for the other three slides, making sure to do each slide individually to ensure that the ethyl alcohol does not stay on the slide for too long. 7. Take the seafaring dye and apply it to the slides on the rack generously, making sure to cover the entire slide. Leave the seafaring dye on the slides for thirty seconds. 8. Rinse the seafaring dye off of the slides with distilled water, and place the slides onto a paper towel to dry. The excess water on the slides can be blotted off gently with another paper towel. . Repeat the previous seven steps for the other two groups of four slides. VII. Determining the morphology and the gram stain results of the samples: 1 . Take out the brightened compound microscope, plug it into an outlet, and turn the power switch on. 2. Use the lens paper to wipe off the objective and ocular lenses. 3. Take one of the gram stained slides and place it onto the stage of the microscope. Use the stage slips to keep the slide in place. 4. Focus using the xx low power objective lens by first using the coarse adjustment knob to bring the lens as close to the slide as possible. Focus by moving the coarse adjustment knob to move the lens away from the slide. . Use the knobs on the stage to move the slide up and down, and side to side to find a portion of the slide with a good amount of sample on it. 6. Get the immersion oil and place a small drop of it onto the slide where the light is shining through it. 7. Switch into the xx oil immersion objective lens and focus using only the fine adjustment knob. 8. If necessary, use the light source and the condenser to alter the illumination of the slide. 9. Observe the color shown on the slide and determine if it is pink or rupee. If it is purple, it is gram positive, if it is pink, it is gram negative.