Money Market Violations and the Money-Laundering Events Assignment - 1

Money Market Violations and the Money-Laundering Events - Assignment Example According to a survey made by the International Monetary Fund in the year 1996, laundered money occupied 2 to 5 percent of the world economy (Molander et al, 1998). FATF which stands for Financial Action Task Force on Money laundering is an intergovernmental body which has been formed to fight money laundering (Witherell, 2002). It believes that getting a reliable estimate on the magnitude of money laundered is quite difficult and hence it generally doesn’t publish any numbers regarding the money laundered amount. The same situation is prevalent among the academic commentators who are unable to give any estimate on money laundered amount. Even though the exact measurement of estimating the money laundered is difficult, there are still millions and millions of money laundered every year (International Monetary Fund, 2005). This has been a great concern for creating financial policy by the government. This has resulted in lots of international organizations and government to take efforts to counter money laundering, to deter money launderers. Prevention and detection of illegal transactions have been a primary priority of financial institut ions and this is also emphasized by the government as well saves their company's reputation. The anti-money laundering legislation according to the Proceeds of Crime Act 2002, would demand an explanation by the authorities for any illegal activity by the customers of the regulated sector (Ewerhart et al, 2007). The regulated sector would comprise of investment, money transmission, and banking. UK has given wide importance in money laundering (FATF, 2004). Any involvement with any assets involved in the crime is treated to be money laundering offense. Any possession of the one's own assets involved in the case is also considered to be money laundering act of UK. The traditional meaning of the word money laundering would be a process which involves the source of the proceeds to be hidden or disguised and they are made to be appearing legal.

Retailing and Wholesaling - Marketing assignment Essay

Retailing and Wholesaling - Marketing assignment - Essay Example A wholesaler is a crucial part of the distribution channel for many products particularly consumer goods and business supplies. Wholesaling intermediaries may be classified on the basis of ownership; some are owned by manufacturers, some are owned by retailers, and others are independently owned. In some instances, some wholesalers sell directly to the consumers especially when the consumer wants to buy a certain product or products in bulk. Wholesalers frequently resale both new and used goods to retailers and other wholesalers and may at times act as a broker in buying or selling products to such people. In most cases, wholesalers physically assemble products, break the bulk products acquired from manufacturers, sort and grade them, and finally repackage them in smaller quantities to be redistributed to retailers. They are involved in the transportation of goods from the place of manufacture to their warehouses from where they can be redistributed to retailers. Since the wholesaler is closer to the manufacturer, they are often responsible for giving out more information to their customers (retailers) about the products which they are selling them. Furthermore, if a product is found to be faulty, then the retailer will take that product back to the wholesaler either for it to be fixed or for it to be replaced. Since most retailers cannot afford to buy directly from the manufacturer in bulk, the wholesaler takes this responsibility and bears the risk of buying in bulk for redistribution in smaller quantities. Cant, M (3) says that a retailer may be seen as a business that focuses its marketing efforts on the final consumers with the intention of selling goods and services to them and this means that any business that sells a product or service to a final consumer, whether it is to a consumer in a shop, by mail, over the phone, door to door, or by means of a vending machine is