The implications for UK service sector firms Essay Example for Free

The implications for UK do sector fuddleds EssayDiscuss the implications for UK service sector firms that bugger off off shed IT or administrative functions to low cost economies, such as India.The relocation of certain industries or functions from the UK to other low-cost economies afield has raised a number of issues over the years. From a management perspective, it is seen as a great vogue of reducing overheads. However, customers engender identified this as a drawback in most industries today.Firstly, transitring parts of a personal credit line to a low cost economy decreases overall expenses as mentioned earlier. This could be that, the value of the pound is lots stronger than that of the currency in these low cost economies so professiones have to pay such(prenominal) lesser amount overheads. As these firms receive their revenue in pounds sterling, they would rather pay out their expenses such as electricity in Indian rupee which is about 0.01% of a pound. This is an ideological tool in exploiting different economies efficiently. It helps line of descentes to clutch their be very low but rather increase their profit margins. This may non incessantly be the case though, since economic factors be very much unpredictable. much(prenominal) firms are likely to have a ample loss should there be any increase in the value of the Indian currency.This could create potential instability in the business thus causing them to relocate into the UK service sector. Also, firms relocating in low cost economies are able to benefit from cheap aim costs. The increase in young, comfortably educated piece of workers in such economies have caused these industries to enter such markets since they are rather skilled labour that have the proficient skills and expertise but rather tend to demand less wages. According to statistics from the work foundation in 2004, software engineers in India received about 5000 to 15000 per annum which is a staggering 15- 17% of what employees with the same office staff in the UK receive. This explains the use of highly skilled workforce which potentially increases productivity rate however property expenses such as wages at a slashd rate.Furthermore, service sectors which may have onshore are likely to gain from greater economies of scale because of the increase in the demand for the firms services. This may need to a reduction in unit costs such as computer systems. Lower mediocre costs should help such firms to be able to expand into different markets and to be rather competitive. However, the extent to which these firms can increase demand for their services depends whether it can meet its business objectives and attract customers since it has different departments of the business in different parts of the world. Without driving in enough customers through quality business management, the firm will certainly fall short of demand thus diseconomies of scale.Moreover, service sector firms mig ht transfer parts of its business to places such as India to be able to benefit from cheaper land. Since in the UK, there are many restrictions to the acquisition of land, different taxes and legal permits to be able to acquire a location, it is a much wiser idea to locate in places where there are much fewer red tapes or barriers which could reduce costs. The difficulty however, could be the master(prenominal)tenance of quality customer services since these functions are nowhere near determination to the department responsible for maintaining good customer relationships.Having mentioned all these positive implications, there may be rough negatives attached to transferring a part of a business to another location. Critically, there may be whatever difficult good issues involved with this process. It may not be of good benefit to the economy if businesses were to turf out down and create employment in another part of the world since employment is one of the main boosts to the e conomy. An increase in unemployment creates a decrease in consumer confidence which effectively means that customers would not corrupt any items therefore the government would therefore not receive huge amounts of tax. This does have a huge impact on the position of the economy and position of individuals. another(prenominal) ethical issue could be is it right to pay much lower wages abroad than in the UK?Certainly, the answer should be No. Another potential problem of off shoring is the language and cultural differences surrounded by the UK and places such as India. colloquy is one of the key tools for any victoryful firm. Lack of understanding between colleagues might hinder the success of the firm since information will not be passed on correctly. The TalkTalk group was the most complained about provider of landline and broadband services between October 2010 and February 2011. This was majorly due to the fact that most of its customer service assistants were base outside th e country which made communications between the two parties i.e. customers and customer assistants difficult. Practically all UK firms ground in India have had to train their staff there, to increase their fluency in English.Certainly, this comes along with certain costs which again increase their total overheads. There might also be differences in working practices between countries, including the working hours, which can have great impact on the performance of the business. Offshoring also has an impact on the public image or reputation of a firm. A number of UK service sector companies have attracted the media over allegations of worker exploitation in low cost economies on order to reduce costs. Such media representations might reduce demand for a firms services or might also make workers touch unsafe at the workplace. These could directly have links with the mobility of demand for the firms services. Also, it is seen as a way to ward off competition in the market which then again, ruins the public image of the firm.Overall then, offshoring is a great business technique which exploits different markets but at the same time reduces costs effectively. However, it brings about some ethical issues such as the impact on the economy and also could be seen to be very pricey in terms of training staff in other parts of the world because of language barrier. Also, does not take the interest of its customers who are a great asset to every firm, into concern. It is therefore with no incertitude that most businesses are moving back to the UK since it has been discovered that the negatives of offshoring do outweigh the positives.

Gender Roles in American Households Essay Example for Free

gender Roles in American Households auditionThe social pheno workforceon of changing sex activity roles in American home bases is explored in this paper. Are work force and women sharing to a greater extent equ every(prenominal)y in assuming habitation responsibilities? Do women still bear the majority of the responsibility? How do race, term, and cultural put to bring snap a role in the division of labor in the sign of the zodiac? I acquire done research on the change in sex activity roles among people of distinct ages, genders, and race. Data was undisturbed to see if there is a difference in change between races, if there is a significant change in roles between generations, and if men and women view the change the same or differently. To gain the data I used check intoing and interviewing as my research methodologies. These methods were used as they were the approximately practical ways to obtain enough information needed to form conclusions. Caucasian, Asian , and African Americans of both genders and assorted ages were surveyed and interviewed. I feel my research will show that with each generation, as much women entered the pop off force, the habitations of all races have downstairsgone significant change in which women and men atomic number 18 sharing both work and municipal duties more than equitably.That being said, the distribution of domestic chores does contribute to household stratification of gender roles. Both currently and historically race plays a role in that stratification. Gender role research is socially applicable because each individual in a household is impacted by it. Gender roles in the household can be a factor in whether a marriage is happy and successful. They also influence decision making in the family and p atomic number 18nt and child relationships. Researchers could use my data to delve deeper into the impact of gender roles in different types of households.Since everyone grows up in some type of household setting, the research could have far-off reaching implications for most of the population. The first research method I choose to collect data is the survey. utilise a survey to collect data allowed me to reach a lifesize number of people. Family and friends jocked in distributing and appeal the surveys. My p atomic number 18nts work at a hospital, my Aunt is a teacher, and my friend attends a large university. That allowed me to reach the age groups, genders, and races I needed in order to collect enough data.Included in my survey were both questions ab issue today and about the past. In addition, using a survey allowed me to ask questions that were not open(a) ended and could easily be converted to statistical data. In the end, I had responses from a minimum of 15 respondents in each of eighteen categories. The categories are Caucasian females ages 19-30, Caucasian males ages 19-30, Caucasian females ages 31-49, Caucasian males ages 31-49, Caucasian females ages 50 and above, Caucasian males age 50 and above, and the same for both African Americans and Asian Americans.Because of the large number of groups I needed to collect data on, I felt 15 individuals per category would be a large enough number to get a representative sample. I looked at the responses and felt I had a good sample. Had that not been the case, I would have haped out more surveys. Included in the survey were questions on the household the person grew up in and questions about their household today. For example, respondents were asked if they were raised in a two parent home. This is a question I checked the responses to when I determined if I had collected enough surveys.It was necessary to have enough positive answers to this question since gender roles is the issue I am looking at. Also on the survey were questions asking your race and age, who you were raised by, if your produce worked outside the home, dowry of division of household chores, and whether the perceived c hange in gender roles is positive. I did not have both problems with the survey itself. The only difficulty was finding fifteen respondents for a few of the categories. The second research methodology I used was the interview.In interviewing I was hoping to be able to ask follow up questions and charge the interview in a direction that would supply me with the information I needed. The survey did not channel itself to follow up questions. In addition, participant observation and experimentation methodologies were not at all desirable to investigate the question of changing household gender roles. I interviewed one person from each of the iii races I was researching. In addition, each was from a different age category. on the whole of the interviews were conducted separately as I would not have wanted to inconvenience the people who were nice enough to recruit. All were interviewed once in an informal manner since I believe that discussing your childhood and present home life is best realised in a comfortable setting. I interviewed Dr. Espejo, a 49 year old of Asian courteous by telephone as she was unavailable in person. Helen Bonokallie, a 24 year old of African decent was my second interview. I spoke with Helen at her study as she works third coggle and that was most convenient for her.My last interview was with Sylvia Johnson, a 66 year old Caucasian. I interviewed her in her living room. I have known Sylvia my entire life and have a close person-to-person bond with her. Aside from choosing my subjects for interviewing and directing the questions to get the answers I needed I did not shape the expiry of the interview. The survey results revealed several trends related to gender roles in American families. The following charts and statistical analysis help to clarify the collected data from the surveys.The three tables that follow represent each of the three races I surveyed. each(prenominal) chart shows the three age groups surveyed and their responses to two questions. The first, as a child what percentage of household work was done by each of your parents? The second, in your home today, what percentage of household work is done by the male and what percentage is done by the female? Looking at the charts a few trends are seen. First, regardless of race, the percentage of work done by the male is greater in the grownup household as compared to the set about in the childhood home.That indicates that with each generation gender roles in the home have changed. Ratio of CaucasianCaucasianCaucasianCaucasianCaucasianCaucasian work done mount up 19-30Age 19-30Age 31-49Age 31-49Age 50+Age 50+ femalemalechildhoodadultchildhoodadultchildhood adult In %householdhouseholdhouseholdhouseholdhouseholdhousehold 50-504%40%0%38%0%0% 60-400%40%4%31%0%40% 70-3012%20%15%23%0%40% 75-250%0%11%8%0%13% 80-2014%0%0%0%20%7% 85-1512%0%11%0%3%0% 90-1058%0%30%0%30%0% 95-50%0%11%0%27%0% 100-00%0%18%0%20%0%.Ratio of AsianAsianAsianAsianAsianAsian wor k doneAge 19-30Age 19-30Age 31-49Age 31-49Age 50+Age 50+ femalemalechildhoodadultchildhoodadultchildhood adult householdhouseholdhouseholdhouseholdhouseholdhousehold 50-500%26%0%0%0%0% 60-400%39%0%16%0%0% 70-307%30%0%36%0%28% 75-2510%0%0%12%0%0% 80-2023%5%17%24%3%22% 85-157%0%10%12%13%0% 90-1050%0%30%0%23%36% 95-50%0%30%0%25%0% 100-03%0%13%0%36%14% Ratio of African AfricanAfricanAfricanAfricanAfrican work doneAge 19-30Age 19-30Age 31-49Age 31-49Age 50+Age 50+ femalemalechildhoodadultchildhoodadultchildhood adult householdhouseholdhouseholdhouseholdhouseholdhousehold 50-500%0%0%0%0%6%.60-400%63%0%18%0%18% 70-3031%31%7%28%0%38% 75-2531%0%8%12%5%7% 80-2015%6%8%36%25%12% 85-150%0%23%0%0%0% 90-1023%0%46%6%30%19% 95-50%0%8%0%25%0% 100-00%0%0%0%15%0% In addition, under no circumstance did the males of any race or age perform more household work than the females. The data also shows that there is no difference in gender roles today among Caucasians, African Americans, and Asian Americans in the 19-30 age group. In the Asian American group of individuals fifty and older, 72% of women still do 80-100% of the household work today.In contrast, in the same age group, only 7% of Caucasian women and 31% of African American women perform 80-100% of household work. According to the 2004 United States Census, 69% of Asians were born in some other country (Lee and Pituc 2007). This is significant in that many older Asian-Americans adhere to traditional cultural values. Traditional Asian gender roles prescribe for women to place the role of wife and mother above all others men are expected to be the breadwinner and spokesperson.Asian cultural values consequently encourage distinct spheres for men and women and a gendered household division of labor in which the burden of household duties such as housekeeping tasks and child care rest heavily on women (Lee and Pituc 2007 1). The following graph was compiled based on the survey question did your mother work outside the home? The y -axis is percentage of working mothers and the x-axis is the age of those surveyed. The graph shows that over time more mothers have become workers outside the home.It also indicates that for all age categories 70% of African American women were in the workforce. Kane stated White women have a history of lower levels of labor force participation and higher(prenominal) levels of economic dependence on men than do African-American women (2000 p. 421). This graph when looked at in meeting of minds with the 3 charts above shows a correlation between women working outside the home and men vainglorious more help about the house. The last survey question was do you think the change in gender roles in the household is positive or negative. The results were 99% positive and 1% negative.The information obtained from my interviews reflect the information I got from the surveys. Talking to Sylvia, the 66 year old Caucasian, the idea that generation and women in the workplace play a part in changing gender roles was reinforced. Sylvia related what her home was like as a child, indicating that household work was entirely done by her non-working mom. Her home on the other hand is different in that her husband does help out to some extent. She also said her childrens homes are even more equitable when it comes to dividing household chores.Dr. Espejos parents worked together and plowd responsibilities in the home. It is the same in her home today, where she and her husband, both physicians, share household duties. Dr. Espejo stated that she feels sharing of household responsibilities strengthens the relationship between a husband and wife and between parents and children. This whitethorn be explained by a 2003 study conducted by Y. Espiritu. Trask (2006) states found on an analyses of various studies of Asian-American families, Espiritu found that more educated couples tended to share and practice greater egalitarian relationships at bottom households.While women still performed more of the housework, their husbands did participate in all aspects of family work. This increased participation by men may be explained due to an adjoin monetary contribution from men and women which led to wives successfully forcing their husbands to participate in domestic chores. (P. 4) In my interview with Helen, she pointed out that sharing responsibility around the house helps to equate the stress between both male and female.In the African- American household she grew up in her father did the cooking and laundry while her mother cleaned and helped the children with homework. A recent study has a possible account for the sharing of household work in Helens childhood home. The study concluded, When referencing the family and work, black men may be less traditional because they are more sensitive to oppression in general, may share resistance with black women to racial inequality, and often gain acceptance of women in the workforce during early days while being r aised by a single working mother (Carter 2006 209).In addition, Blee and Tickamyer state, African American men do not equate masculinity with success, wealth, ambition, and power, but rather with self-determinism and accountability (1995 p. 21). All three interview subjects expressed that change in gender roles where there is a more equal distribution of household responsibilities is very positive. The research I have done shows that over time gender roles have changed among the three races I studied. Every group I looked at had fathers who helped out less around the house than the males in their homes today.One crucial reason for this could be the fact that over time more women have entered the workforce outside the home. It simply has become a necessity for men to help out more around the house. In addition to more women in the work force, culture and race play a role in gender and the household stratification of gender roles. Culture remains important to many Asians Americans, e specially the older generation. In those cultures Asian men are seen as the breadwinner and women as household caretakers. That dictates women being almost entirely responsible for the household.In contrast, African American men do not define their masculinity by success, but instead by accountability. That leads to many African American men being more equitable in sharing household chores. Since everyone in a household is change by gender roles, this subject is very important socially. It is a subject worth investigating boost as the findings could impact many people. References Blee, Kathleen and Ann Tickamyer. 1995. Racial Differences in Mens Attitudes about Womens Gender Roles. In Journal of Marriage and Family. Vol. 57, pps 21-30.Carter, J. Scott and Mamadi Corra. 2009. The Interaction of Race and Gender Changing Gender Role Attitudes, 1974-2006. In Social Science Quarterly. Vol. 90, pps 196-211 Kane, Emily. 2000. Racial and Ethnic Variations in Gender-Related Attitudes. I n Annual Review of Sociology. Vol. 26, pps 419-436 Lee, Sandra and Stephanie Pituc. 2007. Asian Women and Work-Family Issues. In Sloan Work and Family Research Encyclopedia. pps 1-6 Trask, Bahira. 2006. Traditional Gender Roles. In Sloan Work and Family Research Encyclopedia. pps 1-5.

FORENSIC ACCOUNTING Money Laundering and organized Finance

FORENSIC ACCOUNTING capital wash and organized FinanceMvirtuosoy clean poses a serious threat to individuals, businesses, m startary systems, markets and governing bodys as this fiscal abhorrence affect the health of human beings and ruin the development of a country, for example underhighly-developed countries loses billions all(prenominal) year to countries such a Switzerland. In the new-fashioned years White Collar crime has fix the potential threat to the continued existence of capitalists delivery , which now force the inter subject and regional government begin to acknowledge that bullion clean has get a threat to the international saving development, financial systems as come up as to the global community. due to the growing of organised crime such as human trafficking, medicine trafficking, terrorism and tax evasion. Money clean is believed to be the third industry by well-nigh academic researchers, with an estimated 2% to 5% of consummate(a) domestic products (GDP) of the founding.This essay leave alone as well as digest a publications recap in night club to better understand the theories of coin launder and the roles and responsibilities of professional bodies. Which besides include the review of transnational and national policies and legislation exemplars designed to veto notes make clean? Final the finding and recommendations of this essay clearly shows turn up which suggest that professionals be vectors and advisers of funds wash, therefore, such extracurricular seems to be made easy by confused professions who collaborate and contribute to this growing problem, in discovericularly the banks, professional bodies such as Auditors, Accountants and Lawyers, ar argued to swindle a pivotal role in smoothing the progress for gold launders to conceal the harvest-feast of their corrupt activities innovationThis line of business go forth attempt to examine the relationship surrounded by currency make clean and Fraud, as well as its global network and the seriousness of these crimes effects in the global economy and the social consequences for the international community. Furthermore, put in plan words the problem of property clean in the UK, reflecting on whether anti-money laundering laws introduced in the past decades has in or so why improved the control of this wicked activity.Summers (2000), states that the observable identify of money laundering is a characteristic of organized crime with researcher and academic estimating that the money laundering flummox about US$100 billion while the British Intelligence estimated that the total add up being laundered annually is about US$500 billion..The illicit drug trade alone is estimated to devote about US$300 billion of which a significant case would require laundering this is also supported by Wolfensohn (2002).As there atomic number 18 many studies that critically examine money laundering and the itemors that contrib ute to money laundering etc, there are still few and far amidst studies in reality looking into the factors that contribute to the increase of money laundering in ontogeny countries and match up to whether develop countries preaching for regulations and monitoring money laundering to the rest of the world , while ignoring their contribution in promoting this conglomerate crime in evolution countries in go and direct.Problem statementWhite Collar crime has become the potential threat to the continued existence of capitalists economy. Money laundering for instance is assumed to take a large portion of white collar crime global, as statistics predict that almost 5% of the world gross domestic product (GDP) is lost to money laundering each year (IMF, Website ).Research identify and objectivesThe primary objective of this essay is to explore and identify the level that underpins the bureaucracy of money laundering, looking at both point of views (Developed Countries perspective a nd growth countries point of view), and measuring the preventing of money laundering. Also as to keep comment on the accuracy to whether the join combat efforts are realistic.Research methodologyThe present pack is an attempt to explore and explain the international judicial systems in combating money laundering and fraud the legal framework in the global scale. The methodology of this study pull up stakes gather information from secondary obtains, which are already in publication, such as academically journals, books, professional articles, the internet and any other publications (Sekaran, 1992). Furthermore, the study volition make an effort to find out the relevance of the information so as to possible present appropriately, to explore some of the factors that are part of the hasten to money laundering and fraud. Therefore as the study will be only based on published secondary information we will reach a conclusion that does not point toward our own opinion but the criti cally review of the conclusion of the previous studies in this control concluded.Assumptions made in this proclaimAs the definition of money laundering constitutes a range of dynamic criminal activities, this study make assumption that money laundering includes trafficking, fraud, corruption and terrorism as all these crimes share a common feature, which lead to proceeds of illicit being laundered in some means or another. Therefore, all these above mentioned crimes are to be money laundering for this study.Investigation OutlineThe first section of this essay will provide a brief introduction of the objectives and assumptions made throughout the essay, as well as attempt to introduce the research header and give an overview of the subject area. This will be followed by the second section, which reviews previous studies and the critics of the conclusions of these studies. Section deuce-ace will therefore briefly communicate the theories of money laundering and the factors tha t cause money laundering developing countries, followed by a short history and the definition accepted by this essay. Section four will provide attest found by this study and a critically suggestions. Finally section five will reach a conclusion.Literature ReviewIn separate to understand the present and future of money laundering, it is important to first give a brief explanation of the rearground history of its logical argument. gibe to Bosworth et al, (1994), money laundering originated in the USA during the 1930s,Despite the fact that there are several publications studies in the literature of critically examining the subject area, their point of view seem to give attention to the legal and regulatory framework, adding to analysing the full points of bills placement or analyzing causes and remedies of legislations that contribute to money laundering, thus far, there is little done, in other words a number of empirical studies are rather limited to study whether there is a linkage between the developing and developed countries, and if are there any lessons learned? consort to a study by Wolfensohn (2002), stated that at least US$1trillion is believed to laundered every year using progressively more highly developed methods such as the wiring transfer of funds across boarders, in addition these compound methods involve employing serve and advice of professionals such financial advisers and accountants (Sikka, 2003 Arnold and Sikka, 2001 Aloba, 2002 Bakre, 2007).Mitchell et al., (1996) study exposed actions carried out by some of these professionals and companies in accountancy such as Jackson Company Grant Thornton Partners Coopers and Lybrand and a cabinet minister in the UK government, who were all caught up in money laundering of illegal transferring money from AGIP to Kinz Joallier SARL. The professional body of the demonstrate of Chartered Accountants in England and Wales (ICAEW) was passed on with the case to postigate the professional mi sconduct of its members. Even though the spicy Court had previously dealt with the case and gave its own judgment, which found that the two Accountants who were caught up in the act of money laundering, the courts ruling stated that these professionals actually knew that their action were against the law and obviously laundering money, the Judge found them guilty, however the professional body itself (ICAEW) it appears that did not view it the alike way as the Court did. Furthermore when the probe and disciplinary committee of the ICAEW was criticised it argued in defence that it was not provided with insufficient evidence to warrant the bringing of a disciplinary case against any of its members in this case of money laundering (see Letter of May 9, 1994).On the other hand, BCC I investigated the global closure in 1991 and uncovered a massive amount of criminal activities including money laundering in a number of countries around the world, which involved bribery of government of ficials, implements of war trafficking, the sales of nuclear technologies, the support of terrorism, tax evasion, and smuggling operations, as well as massive financial frauds (Arnold and Sikka, 2001).According to the 400 page report by Arnaud Montebourge (2001) The City is an impenetrable fortress with a status, rights and habitude of its own, a closed universe where every financier, banker or businessman chooses silence above all else. The report stated that it had taken the British an extraordinary amount of time to respond to Swiss tip-offs before edict 19 banks to freeze funds linked to causality Nigerian ruler, Sanni Abacha BBC News, October 10, 2001.A Harvard-educated Colombian economist, Franklin Jurado, used the services of accountants to launder $36 million in profits, from US cocaine sales for the late Colombian drug lord Jose Santacruz-Londono, by wiring it out of Panama, through the offices of Merrill Lynch and other financial institutions, to Europe. In three year s, he opened more than 100 accounts in 68 banks in nine countries Austria, Denmark, the United Kingdom, France, Germany, Hungary, Italy, Luxembourg, and Monaco. many of the accounts were opened in the names of Santacruzs mistresses and relatives, others under assumed European-sounding names. Keeping balances below $10,000 to avoid investigation, Jurado shifted the funds between the various accounts. He established European front companies with the eventual aim of transferring the clean money back to Colombia, to be invested in Santacruzs restaurants, construction companies, pharmacies and real estate holdings (UN, 1998) cited in Garnaut, J. (2006).According to the UN General Assembly, corrupt politicians, government officials and other criminal organizations increasingly sub-contract the task of money laundering to specialized professionals (such as accountants, lawyers and bankers) because the methods required to smother law enforcement officials are becoming ever more convolute d (see UN Special Session on the knowledge do of import Drug Problem 8-10 June, 1998). Professionals (such as Accountants, lawyers and bankers) are used not only to conceal the origin of the source of the proceeds, but to manage the attendant investment into legitimate real estate and other as machinates.Money LaunderingIntroductionIn anticipation of comparatively recently notion of money laundering were subjects that, although continuously account and chattered about, were not studied to a great extent. it gives a quite out of the ordinary impression for the fact that well know crime stories such as the Medellin cartel to the notorious Al-Qaida network that have been taking place up to the September 11. Therefore, this can be arguable that beyond doubt it point out that organised crime has evolved a great deal fitting itself into a far-reaching socio-political changes, complex technical developments and diverse culture environments. According to Murilo Portugal, Deputy Managing Director of the IMFGlobal financial stability hinges on joint action at the international level, but also on effective national systems. Robust anti-money laundering and combating the financing of terrorism regimes are an important pillar of the international regulatory and supervisory system and part and parcel of the current efforts to strengthen the global financial framework..Therefore, due to the out of the ordinary of money laundering and the new developing complexity of the techniques used by launders it is hard to keep accurate information of this mixture of crime.What is Money Laundering?Although the observable fact of money laundering has taken on increase attention, from every country in the world its notion is still a controversy in the criminological phraseology. In anticipation of the concept of money laundering phrase, which has almost been talked about and documented over for the past seven-spot decades, it is extraordinary that this subject has been given fewer r esearch studies, regardless of the fact that organised crime has been part of the society for such a long time.Money laundering has been defined as the cover up of unlawfully get your hands on assets or proceeds so the can be then made to appear as they have been acquired in a lawfully manner. On the other hand, money laundering can mean different thing to different countries and organisation as there are variations on the definition of money laundering, nevertheless, almost certainly accepted definition that fit within the framework and the global idea intended to provide a global definition of money laundering is the one outlined (UN Organised Crime Convention). Article 6 of the convention regards the following conduct as money laundering(i) the conversion or transfer of property, knowing that such property is the proceeds of crime, for the purpose of hide or disguising the illicit origin of the property or of helping any person who is involved in the commission of the predicate offence to evade the legal consequences of his or her action(ii) The concealment or overwhelm of the true nature, source, location, disposition, movement or ownership of or rights with respect to property, knowing that such property is the proceeds of crime(iii) The acquisition, possession or use of property, knowing, at the time of receipt, that such property is the proceeds of crime.According to FATF, money laundering is defined as. . . the processing of a enormous number of criminal acts to generate profit for individual or group that carries out the act with the intention to disguise their illegal origin in order to legitimize the ill gotten gains of crime. Any crime that generates significant profit extortion, drug trafficking, weapons system smuggling and some kind of white collar crime whitethorn create a shoot for money laundering (FATF).The process of money LaunderingAlternatively money laundering operates in the same manner as a lawful business in terms of the financial operations. Therefore money launders in their set of business operations act upon the intention of introducing funds originated from criminal activities into the economy so that it appears legitimate. For this to be achieved funds or proceeds need to pass through a long way before it take on the appearance of a legal financial transaction. The procedures used in a money laundering process, theoretically, include three all-embracing stages known as placement, layering and integration.(I) Placement This is the first stage in the money laundering process. It involves the introduction of the proceeds of criminal activity into the main stream financial system. This may involve the opening of bank account with genuine or fictitious names and the subsequent lodgement of funds in the account. This is the most vulnerable stage(ii) Layering This process involves the creation of a complex layer of financial transactions with the aim of evading the audit trail. The launderer may as well decide to leveraging high valued commodities such as automobiles, jewellery, etc., and exporting to a different jurisdiction. Or better still, it may involve the purchase of shares of companies at the stock market(iii) Integration This stage involves the recycling of the laundered wealth to the direct benefit of the Launderer to appear as if it was derived from legitimate activity .It may involve the selling off of some valuable items which were purchased during the layering process.Causes of Money LaunderingIn a recent study ( cited on Ribeiro, 2002Galvao, 2000) it is argued that money laundering causes bizarre changes, such as when the demand of money increases it also increases the risk and precariousness of the banking sector and financial systems. In addition, money laundering creates corruption, fraud, bribery, white collar crime and all other financial crimes. It is also worth contemplating whether some of the key drivers of money laundering in developing countries are due to the complexes of westbound regulations? According to Linell (1999), the western countries such as USA UK, approach the challenge against money laundering from a cost to benefit approach. For example the enforcement officers evaluate the cost of resources and compare it with the value of the crime in order for them to investigate evidently this is an open door to launders to curse developing countries. Another report by Moore (2004), accuses Britain to be a safe Haven for money laundering. Moores reports found fairly estimate that between 25bn to 40bn of dirty money is laundered in the UK each year from all over the world. This opens a question to whether globalization and engineering, developed countries and professionals could be the main drivers of money laundering in developing countries (Killick, M. (2004).Globalisation and TechnologyTo understand how increasing engineering science can have an adverse effect on money laundering, it is worth reflecting why the criminal considered technology as their shelter to hide their proceeds. Drawing attention to the revolutionary impact of technological advancement on organized crime, particularly money laundering as well as the concept of globalization, it is clear for one to argue that the combination of these two has deregulated the simply customs of state control over their own rule or location. There is no doubt even there is a lack of academically evidence to support this, globalization and technology has created more opportunities for criminality than it has for preventing them committing these crimes. for example, Tinker (1980), argues that globalisation has created profit generation organisations, such as the MNCs that work against the moral of local economy, particularly in developing countries.Money Laundering and the Professions in Developing CountriesWhat is the relationship between the professionals such as the Accountants, Auditor and the Lawyers, and money laundering within the developing countries? Can their role be found been in a contradictory to be of capital hookup ambition. According to Hoogvelt and Tinker, 1978 the money launders and the professional groups are seen as a protection of capitalism for the developed capitalist countries. For this reasons, capitalistic purpose of the Western frugal powers, reflected within the formation of the multinational corporations (MNCs) as well as other overseas capitalists which produce offsprings of capitalist relations in developing countries, is arguable be the cause of contradictory placement between the corrupt ruling leaders and those you have influential powers in developing countries and the good governance, accountability and transparency-preaching Western capitalist world ( Bakre, 2005, 2006a).Wade, 1996 suggested that the alleged reason of bringing investments to developing countries is chiefly based on the highly praised globalization. On the other hand, one can question whether globalisation benefits these developing cou ntries. Hirst and Thompson, 1996, argue that this capital mobility is not in point of fact turning out a certain shift of investment and employment from the developed countries to the developing countries. Therefore, the notion that these developed countries and globalisation would be of care to boast the economies of these developing countries.This seems to suggest that the MNCs and other foreign capitalists operating in foreign countries may not be relied upon to subordinate their own capitalistic interest to the interest of those countries where they operate, especially developing countries. However, the notion that the developed capitalist economies would help to jump start and boost the economies of developing countries through investments, which would eventually get unloosen of corruption and poverty, has been the acclaimed cornerstone of globalization ( Groom, 2001).Accountants and AuditorsThe external auditors, PriceWaterhouse, were in the dual position of acting as toff ee-nosed consultants and tax advisors to the BCCI management to further their private interests, while the State was relying upon them to perform public interest functions by acting as an external monitor and independent quasi-regulator (Arnold and Sikka, 2001). For this reason, it can be argued that Britain and other western countries are still providing safe haven for money launderers and those who commit financial crimes (Moore, 2004). Another evidence is found in the document on BBC News website( ),it accuses Londons development to be clearly doing well as a go forth of its banking secrecy codes, which ignores the publics interest. Another example is the report by the African Business (online), which claim hundreds of billions of rand from white-collar crime have been laundered through South Africas financial system, but no convictions have that been made (African Business, July 1, 2002). Deloitte progress to forensic services manager, Rupert Haw, says the global trend sugge sts that crime bosses earn their income in developing countries but invest it in more secure and sophisticated financial systems in developed countries (African Business, July 1, 2002)The Duty to Report abominable Conducts.It is obvious that for effective enforcements to tackle money laundering and fraud, the state should put in place a clear role of reporting duties for individuals and companies as well as professional boards involved in preventing. According to Masciandaro and Portolano (2003) Barret (1997), money laundering threatens the growth of the economy and the socio economic development of a country. Therefore, the development and robust economy can only achieved if both developing countries and developing countries put a balancing effort in combating money laundering, such as good governance and regulations that are not charlatan.From this perspective, the next following paragraphs will provides the evidence, which suggests that the developing countries and its ruling e lites, public bodies, professional bodies and individuals as mentioned above are hypocrites in their role to prevent money laundering in developing countries. According to a reportHypocrisy of the developed countries and global bodies evidencesMoney laundering is a global problem which significantly affects both developed and developing countries. This essay suggests that the problem should be tackled by both developed and developing countries, rather than shifting the burden on poor developing nations that have no resources to combat this global crime Ekaette, 2002.At the same time, readily available evidence indicates that some authorities in African countries steal government funds that are meant to serve the public and wire the money into some implicit accounts in banks in England, Switzerland, France, Germany, the USA, the Cayman Islands and Bahamas and Agabi, 2002. As in the case of the former Zaire (Congo) President Mabuto Seseko who was helped by the British government to w in the elections in a fraudulent way. Furthermore, during is time in power it is claimed the western opportunely looked the other way and maintain their silence, while he was stealing the state money, laundering funds into overseas bank accounts (mainly Switzerland).With the continued proclaim from the several developing countries to those countries that function as haven for ransack funds from developing countries to assist in the recovery of the stolen funds in their banks, many of the countries, particularly the former colonial power, Britain, have refused to cooperate. While some others (such as Switzerland) have been promising to cooperate, sometimes these promises end up not being followed by these Countries.Secondly, from a developing countrys point of view, the Western countries uses criticisms of the developing countries as in the case of (Mabuto Seseko) as a means of benefiting from the issue of money laundering, while pretending to be implementing actions of the same an ti-money laundering and anti-corruption preaching Western economic powers suggest hypocrisy. For example, while countries such as South Africa and Nigeria, and 28 other developing countries have so far given their support to the United Nations Convention Against Corruption, except France, all the other member countries of the so called Financial Action Task Force, FATF, that have been jointly threatening Africa countries economic sanctions, have not yet endorse the UN Conventions Against Corruption (see This Day, June 9, 2007). Moreover, it was during the 2002 meeting on the Global Organisation of Parliamentary against Corruption (GOPAC) that Australia, Canada and Italy1made pledges to set in motion machinery to amend their banking laws to facilitate easy recovery of the developing countries looted funds in the banks in their countries The Guardian, November 5, 2002. Strangely enough, while countries such as USA, Britain, France, Germany, and Switzerland which serve as havens for lo oted funds from African countries expressed serious concern over the growing incidence of corruption especially in developing countries, such pledges were not made by any of these countries.For example in the case of , Raul Salinas de Gotari, brother of the former President of Mexico, Carlos Salinas de Gotari was able to transfer $90 million to $100 million between 1992 and 1994 by using a private banking relationship formed by Citibank New York in 1992 (see US General Accounting Office, 1999). The funds were transferred through Citibank Mexico and Citibank New York to private banking investment accounts in Citibank London and Citibank Switzerland. Yet, Britain and the United States are both powerful and leading member countries of the Financial Action Task Force (FATF) that claim to be scrap money laundering globally.ConclusionNonetheless, it is clear from available evidence shown in this essay that money laundering is one of the major challenges faced by the developing countries and if it is not tackled In time it will became the main destructive force to the economic and social development of this countries as it affect economic growth, reduces productivity in the economys real sector by diverting resources and encouraging crime and corruption, and can distort the economys long-term economic development. This essay highlighted observable facts of Money Laundering and its origins, as well as the patterns and implications it has in the developing countries. it is essential to make a note of the hypocrites approach the western countries take, however a accurately study is recommended to in effect identify whether this claims exist. The resources against money laundering should be strengthened to ensure that the professional and MNCs wont continue to nuisance the financial systems. Final Global responses to the challenges of money laundering should be tighter than at present.