Law - Finance and Investment Law Essay Example | Topics and Well Written Essays - 4000 words

Law - Finance and Investment Law - Essay Example In the United Kingdom, there was a survey which was conducted by the insurance industry. The results showed that the UK annually loses  £85 billion every year, and more than half of this amount is related to drugs. However, there are a number of laws in the UK which can prevent the occurrence of money-laundering. One of the important obligations that a British citizen has, is to report a case of money laundering if he or she is aware of that. If the person doesn’t make a report however, he or she may have to spend fourteen years in prison. The Authority of the House of Lords (2009, p.8) states ‘Money laundering involves the following stages, which may overlap: Placement stage: where cash derived directly from criminal activity (for example, from sales of drugs) is either placed 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 the funds; Integration stage: the stage at which the money is integrated into the legitimate economic and financial system and is assimilated with all other assets in the system.’ In essence, money-laundering is the process through which illegal money obtained from means such as drug trafficking, prostitution and extortion is forced through a cycle which eventually makes that same money appear as if it was obtained through legal means. It’s extremely difficult of putting a perfect value of money-laundering. The International Monetary Fund of the IM F estimates that the money-laundering industry worldwide is worth about one trillion U.S. dollars per year. This amount is 3% of the world’s aggregate gross domestic product. The Authority of the House of Lords (2009, p. 27) states ‘The major exception in international practice to the default position, mandated by the UN

David Cole Interviews Dr. Franciscek Piper Essay

David Cole Interviews Dr. Franciscek Piper - Essay Example Franciszek Piper regarding the changes made in the gas chambers, signaled him some mysteries behind the Auschwitz camp that are yet waiting to be unlocked. Due to these inconsistencies, he concluded this video through a â€Å"revisionalistic† claim that the holocaust did not happen; that no one was ever gassed in the gas chambers. In my opinion, it was not wrong for David Cole to make his own assertions regarding the Holocaust. After all, he is entitled to his own opinion and to his own quest for the truth. However, what made this very controversial, especially for the Jews and for the Jewish Defence League led by Irv Rubin, is that Cole’s work was made so powerful by showing real interview footages with the considered experts, who are supposed to tell a detailed, honest, and accurate information to the public. Even more, he is Jewish by birth. Nonetheless, this type of work serves as an eye-opener that things that are claimed to be â€Å"truths† should also be examined for us to have a more credible and accurate