Money laundering in HongKong Essay Example | Topics and Well Written Essays - 1000 words

Money laundering in HongKong - Essay Example Arrangement is the store of funds in financial organizations or the transformation of money into a negotiable tool. Layering includes the wire exchange of funds through a progression of accounts through the monetary framework in attempt to conceal the genuine sources of the fund. Integration is the step to mix legitimate acquired criminal proceeds into a legitimate world. Legally, money laundering refers only to the proceeds of specific crimes, the list of which varies across countries but which has gradually been extended in most parts of the world to all crimes capable of being sentenced to a year or more imprisonment (Levi 533) Since the end of the cold world war, much attention and resource of western countries have shifted to protect domestic security by attacking drug connected and organized crimes. Targeting criminal finance was regarded as an innovative initiative and strategy to achieve better anti-crime effects. Uncovering, tracing, freezing and confiscating criminal proceeds have been focused, which require the criminal justice system to criminalize and combat criminals managing their finance process, which is known as money laundering. The first time that the emergence of money laundering addressed was in the U.S in the Bank Secrecy Act of 1970, which demanded that insured depository institutions maintain records and report transactions. The aim was to prevent banks from being used to hide money derived from criminal activity and tax evasion. A few days after the events of 2001 September 11, a war against terrorist has been in effect on different fronts including a direct ambush on money launderin g. In his speech of 13 days after the attack, President Bush indicated his determination to prosecute money launderers, especially those connected to terrorist funds and those who do not report their suspicions of laundering to the police. A clear message was sent to banks and different monetary establishments that

HRM Assignment this is a Business degree Report

HRM this is a Business degree Report - Assignment Example This is what had happened to Bolton Wonderers wherein one of their female nutritionist had claimed for an equal pay. The main thrust of this paper is to provide the management team with advices in relation to legal and procedural issues to the claim of their female employee that she is paid substantially less than her male counterparts. Legal and Procedural Issues There is discrimination in the workplace if there is hostility toward an individual based on sex, age, religion, race and even disability (Hoffman, 1999). Legal training program in every organization is mandated by the Federal and state law to avoid any sex biases. The group of women is heavily regulated with so many legislations for them to be protected from discrimination particularly in the workplace. The study of Lockwood (2006) cited that some organizations nowadays are considering woman as one of the talented pools of becoming future employees. In fact, it is suggested that women are capable even in high level special ty careers. Although it’s difficult for them to achieve an equal footing with men in the workplace, the total of women workers is increasing. They are now considered as one of the great contributors in this change in demographics and economic factors. In almost all countries, provisions and legislation with regard to the employment of women are significantly considered because these could only paved the way to equal opportunities in employment. The European Economic Community (EEC) had constructed principles that women are entitled to receive equal pay with his male counterparts, provided that they are doing equal work. â€Å"In 1975, the Council of the European Communities issued the Equal Pay Directive (75/117) which states that all discrimination on the ground of sex in respect of pay should be eliminated† (Littlejohn, 1994). The issuance of the directive obliged members to completely comply with the legislation. It is stated in the regulation that all establishment s should give a woman an equal pay with man if they are doing like work, work rated as equivalent, and work of equal value to that of the man. In addition, it has been specified in the legal procedure revised by the Equal Opportunities Commission (EOC) that an â€Å"employer can only pay a man more than a woman for doing equal work if there is a genuine and material reason for doing so which is not related to sex† (Equality and Human Rights Commission, 2003, p.2). A sex discrimination in pay would exist if the employer’s reason is based on higher market value wherein it would regard the job as for male only. In the case of the female nutritionist, she claimed that she has grounds for an equal pay claim over his male counterparts who are the physiotherapists and the coaches. The claim could be considered by the management team considering that it is stated in the law that work of equal value would entitle the women to claim for an equal pay. The Legal Procedure Filing a sex discrimination in pay is a complicated process, and so the law provides a legal procedure for individual who wants to file a suit against their employers for an equal pay claim. If the female nutritionist would take a claim for equal pay with his male counterparts, then the issue should be first introduced to the management team of Bolton Wanderers being her employer. The issue should be first settled between the employee and the employer by applying the company’