Who Killed John Fitzgerald Kennedy - 3029 Words

Who killed John Fitzgerald Kennedy? This question can be considered as cryptic as the meaning of life. Does anyone know who killed Kennedy? The J.F.K Assassination is a conspiracy wrapped in a conspiracy, wrapped in an enigma? Can the people of the world serious accept what the U.S government has told them - Lee Harvey Oswald single handily killed the President of the U.S.A? Evidence shows that it seems possible that the American Central Intelligence Agency could have been involved in the president s death? All the facts suggest that this assassination was not the work of one, Lee Harvey Oswald, but a higher power, one which had the clearance to change motorcade routes, fake photo s and successfully cover-up the assassination until this very day. John Fitzgerald Kennedy was born in Brookline, Massachusetts, on May 29, 1917. Graduating from Harvard in 1940, he entered the Navy. In 1943, when a Japanese destroyer sank his PT boat, Kennedy, despite injuries, led the survivors to safety. On his return from the war, John F. Kennedy became a democratic congressman for the Boston area, and in 1953 he advanced to the Senate. On September 12, 1953, John F. Kennedy Married Jacqueline Bouvier. John F. Kennedy worked hard inside his party and in 1961; JFK was appointed President of the United States of America. No more than 1000 days into John F. Kennedy s presidency, he was assassinated in Dealey Plaza, Dallas, Texas. Apparently by Lone Gunman, Lee Harvey Oswald. It was theShow MoreRelatedJohn Fitzgerald Kennedy And His Life1165 Words   |  5 PagesWhat did John Fitzgerald Kennedy explore, encounter, and exchange during his life. President John Fitzgerald  Kennedy went through a lot throughout his life. He was a mayor a Senate  and even president! On top of that he was in the military supporting our country. Let s  take a look at what he has explored. Explore, well John Fitzgerald Kennedy explored  a lot of things here are some examples of what he explored. He served in the military during WW2. He  explored  the ocean on his boat with his crewRead MoreProfiles in Courage by John Fitzgerald Kennedy Essay1248 Words   |  5 Pagesabout twelve thirty in the afternoon. John Fitzgerald Kennedy was shot while riding on his motorcade through Dealey Plaza downtown Dallas. It was a really bad day for Americans. John Fitzgerald Kennedy was born in Brookline Massachusetts on May twenty ninth nineteen seventeen. The Fitzgerald and the Kennedy families were prominent Irish Catholic families that lived in Boston. John Fitzgerald Kennedy’s maternal grandfather was John E. Fitzgerald his nickname was â€Å"Honey Fitz† andRead MoreJohn Fitzgerald Kennedy Essay1555 Words   |  7 PagesJFK John Fitzgerald Kennedy (Jack) was born in Brooklyn Massachusetts on May 29, 1917, to Joseph Kennedy and Rose Fitzgerald, who were the children of Patrick Kennedy and John Fitzgerald (Honey Fitz), whose parents both emigrated from Ireland in 1858. Honey Fitz was governor of Boston and served on the House of Representatives. Both men were influential in politics. Joseph and Rose Kennedy had nine children: Joseph Jr., John, Rosemary, Kathleen, Eunice, Patricia, RobertRead MoreWas The Assassination of John Fitzgerald Kennedy a Conspiracy?794 Words   |  4 Pages Was The Assassination of John Fitzgerald Kennedy a Conspiracy? On November 22nd, 1963 at 12:30 p.m in Dallas, Texas, one of the most horrific events in American History took place. The assassination of John F. Kennedy. Crowds were cheering as JFK was on a ten mile route that would pass through Dallas, Texas. John Kennedy was in the back seat of a 1961 four door Lincoln Continental convertible when this tragic event occurred. The driver took a left off of Main street passing by the Texas SchoolRead MoreJohn F. Kennedy Essay1302 Words   |  6 Pagesof America, John Fitzgerald Kennedy remains the youngest man ever elected to the office of Chief Executive, and the youngest man to die while still fulfilling his duties. Serving as Americas President, John F. Kennedy held his office for 1000 days, dying November 22nd, 1963, assassinated at the age of 46. John Fitzgerald Kennedy was born on May 29th, 1917 in Brookline, Massachusetts, the second son of nine children of the wealthy Roman Catholic Kennedy family. Joseph Patrick Kennedy, Kennedys fatherRead Moreâ€Å"And So My Fellow Americans, Ask Not What Your Country1741 Words   |  7 Pagesis now remembered in today s time is because of John F. Kennedy, one of the most iconic presidents ever, in his presidency and his life, achieved many accomplishments. Early Life Throughout high school history classes, we have discussed many of the past presidents who have had major impacts on America and how they have shaped this country today: John F. Kennedy represents one of those influential presidents. Before his presidency, John Fitzgerald Kennedy’s legacy began back with his parents. HisRead MoreThe Assassination Of The War And Formation Of Civil Rights1550 Words   |  7 Pagesbeyond the person who is killed. Assassinations have been rampant across the globe for ages and these assassinations do cause lots of political instabilities in a country especially when key personalities such as heads of states are the victims. In this essay, we shall discuss some of the major assassinations which occurred in history. These personalities include John Fitzgerald Kennedy, Martin Luther King, Abraham Lincoln, Julius Caesar and Robert F. Kennedy. John Fitzgerald Kennedy At the timeRead MoreJohn F. Kennedy: Life and Times853 Words   |  4 PagesJohn Fitzgerald Kennedy was born in Brookline, Massachusetts on May 29, 1917. John’s mother’s name was Rose Elizabeth Fitzgerald Kennedy and his father, Joseph Patrick Kennedy. Rose and Joseph had 9 children in total. John had a very competitive childhood with his older brother Joseph Patrick Junior. Jack (JFK) was sick very often in his childhood, but nether less he was very active in sports and very social. Jack’s brother Joe Jr. was his parents’ favorite son. Joseph Patrick Kennedy was theRead MoreConspiracy Theories Related to the Assassination of John F. Kennedy1200 Words   |  5 PagesOn the 22nd of November 1963, the 35th president of the United States of America, John Fitzgerald Kennedy, was assassinated in Dallas, Texas. Lee Harvey Oswald was charged with the crime, but was shot and killed two days later by Jack Ruby before he could be taken to trial. The Warren Commission officially determined that Oswald was the lone assassin, however, this conclusion has not been accepted by many. In fact, a 2003 poll reported that 75% of Americans do not believe that Lee Harvey Oswald actedRead MoreJohn F. Kennedy: The King of Camelot1039 Words   |  5 Pageshas lost a great leader and the world a hero. And who was this man who had influenced the world with his political charm and strives for change? The man of the hour is John Fitzgerald Kennedy. On May 29, 1917 in Brookline, Massachusetts one of America’s most beloved presidents is birthed into The Kennedy Family, a socially and politically prominent family residing in Massachusetts. Named after his mother’s father, John Fitzgerald Kennedy would go on to become one of the most influential

Supermodels, American Society, and The Media - 848 Words

In the media supermodels seem to have a high influence on what a beautiful person should look like. Pretty females need to be thin, blonde, and have large breasts, and handsome males should look like marathon runners or stacked due to an obsession with weightlifting and steroids. However, this image does not portray what most Americans actually look like. As unhealthy as it is on the opposite side of the spectrum of obesity, only a small percentage of people are anorexic, even though these people are grotesquely small and are close to supermodel skinniness. Anorexia Nervosa tends to be the one eating disorder heard about in the news as the diagnosis of these media social lights. The average American is obese, and with over half of†¦show more content†¦However the average American does not typically run period (Burfoot). Supermodels may influence people to lose weight but that doesn’t actually mean that the people are actually trying to lose weight. It is highly doubtf ul that a person ordering a Big Mac is thinking of Jessica Alba or Orlando Bloom. On the other hand the average person may think of them as they do not eat anything or they stick a toothbrush down their throat to induce vomiting. With sixty percent of Americans being obese, it is startling to find that an outrageous one to three percent suffer from anorexia nervosa or bulimia nervosa (National Institute of Mental Health). These are the people who actually work to maintain their weight. It is an extremely hazardous way to do so, but at least they are trying. Being anorexic is unsafe, but that does not always mean they are bulimic too. Anorexic people can also be the gym junkies who do nothing but work out. Hard to imagine but it is true. These are the people who are greatly influenced by the media the one to three percent of all America’s population, an incredible three million compared to the 182 million who are overweight and the ninety million who are obese. The average supermodel stands at five foot eleven inches and weighs about 117 pounds on average;Show MoreRelated Medias Effect on Womens Self Image Essay994 Words   |  4 Pagestime we turn around its a possibility well see Tyra Banks, Giesele or another supermodel on a billboard, television commercial, or magazine cover. Many women, teenagers, and young girls are starving themselves, exercising excessively, or getting plastic surgery to achieve the look of these undernourished supermodels. In reality, out of one million women who attempt to be a model, only one will achieve supermodel status. These beautiful bodies and perfect facial features are relatively unattainableRead MoreThe Art Of Drag And Female Impersonation1082 Words   |  5 Pagesaccepted by wider array of people including non-LGBTQ community members. After RuPaul’s time in the Wee Wee Poles, he made his firstpopular culture breakthrough with his hit single â€Å"Supermodel†. â€Å"Supermodel† received much respect from the LGBTQ communitiesoriginiated from the streets of New York in the â€Å"â€Å"Supermodel (You Better Work),†32 developed from the street, from the New York dance club scene, and gained support amongst dance specialty shops, DJ’s, and the drag community† (Andrea Carolyn Benoit)Read MoreThe Subjectivity of Women to Modern Mass Media‚Äà ´s Construed Views of Beauty and How Their Effects on Body Image847 Words   |  4 Pagessuccess; they base what they advertise on the opinions and preferences of their viewers, readers, et cetera. This is the same case for women living in a society largely centered around others â€Å"approving† or â€Å"liking† what they look like. Mass media in America acts as an advocate for bodily perfection by nationally util izing commonly used forms of media in negatively influencing women, young and old, to view their bodies as â€Å"not good enough† through society’s eyes. In years past, the standard forRead MoreThe Need for Diversity in the Fashion Industry1402 Words   |  6 Pagesare short, some are light skinned and others are darker. So many diverse looks exist in the world today and the fashion industry need to change their perception of perfect. Body image in our society is out of control. We have young men and women comparing themselves to unrealistic models and images in the media and feeling bad about the way their own bodies look because they somehow don’t measure up. (Dunham, 2011) The struggle for models to be thin has led to models becoming anorexic or bulimic, untimelyRead MoreDance and Fashion1697 Words   |  7 Pagespure bliss. Dancing is for everyone. On the other side of the coin, being a supermodel is somewhat the same as being a dancer wherein there are certain challenges that need to be surpassed and most importantly you should’ve the skills to become one. Gracing the covers of  Vogue magazine, parading the catwalks, travelling the world, being snapped by photographers constantly, oh these are just the wonders of being a supermodel. And who doesnt wish of becoming one? This job has all the perks. The starRead MoreImpact of Beauty in the Media on Young Women1586 Words   |  7 Pagesyoung adults? More specifically how does the constant incursion of beauty advertisements impact young women? Media, any form of mass communication- is one of the biggest factors in this widespread problem. Through the use of media, ideas, images, expectations of perfection is broadcasted throughout the country and on most occasions throughout the world. The portrayal of beauty in the media has contributed to a variety of psychological problems such as: misinterpretation of beauty, early explorationRead MoreThe Effects Of Media On Eating Disorders1034 Words   |  5 Pagesfrom some sort of eating disorders as of 2015 with 30 million being made up of A mericans. Eating Disorders can be defined as any eating habit that negatively affects ones overall health. Media has had a large impact on how both males and females see their bodies. A majority of the people who suffer from eating disorders are young adults and teenagers. This can be linked to the pressure put on them to have what society declares the â€Å"ideal† body image. For most of history, the ideal female bodyRead MoreDance and Fashion1708 Words   |  7 Pagespure bliss. Dancing is for everyone. On the other side of the coin, being a supermodel is somewhat the same as being a dancer wherein there are certain challenges that need to be surpassed and most importantly you should’ve the skills to become one. Gracing the covers of  Vogue magazine, parading the catwalks, travelling the world, being snapped by photographers constantly, oh these are just the wonders of being a supermodel. And who doesnt wish of becoming one? This job has all the perks. The starRead MoreThe, Beauty And The Beast, By Dave Barry1227 Words   |  5 Pages In short, the media has affected the way women think of themselves. These influences of bad habits are all around us. There are four major categories of mass media to control what we see everywhere we go. Broadcast media is what we see on television, or in movies and hear on the radio. Another major form of media is Digital media which allows mass communication all over the world via the internet. The internet is one of the largest and most easily accessible forms of mass media comprised throughRead MoreTeenagers And Bulimia Social Issues1513 Words   |  7 PagesBulimia is a social issue that has been affecting our society for a long time now. It affects primarily teenagers who do not feel comfortable with their bodies due to many reasons, such as peer pressure and the influence of fashion and film industries. Over 8,000 teenagers die every year due to this illness. However, every problem has a solution. Bulimia can be reduced among teenagers if there is more attention drawn to it, especially as a mental illness, there should be a greater restrict ion on

Cyber Money Laundering in India free essay sample

Money is like fire, an element as little troubled by moralizing as earth, air and water. Men can employ it as a tool or they can dance around it as if it were the incarnation of a god. Money votes socialist or monarchist, finds a profit in pornography or translations from the Bible, commissions Rembrandt and underwrites the technology of Auschwitz. It acquires its meaning from the uses to which it is put. Benjamin Franklin said, â€Å"Money has never made man happy, nor will it; there is nothing in its nature to produce happiness. The more of it one has the more one wants†. Raghu Raman, â€Å"Five types of crimes are now converging. Cyber crimes such as identity theft, illegal access to e-mail, and credit card fraud are coming together with money laundering and terrorist activities. Large amounts of money is now stored in digital form. Now you can transfer money through electronic and online gateways to multiple accounts. † †¢ In the beginning, laundering money was a physical effort. The art of concealing the existence, the illegal source, or illegal application of income, and then disguising that income to make it appear legitimate required that the launderer have the means to physically transport the hard cash. The trick was, and still is, to avoid attracting unwanted attention, thus alerting the Internal Revenue Service (IRS) and other government agencies involved in searching out ill-gotten gains. In what could be described as the â€Å"low-tech† world of money laundering, the process of cleaning â€Å"dirty money† was limited by the creative ability to manipulate the physical world. Other than flying cash out of one country and depositing it in a foreign bank with less stringent banking laws, bribing a bank teller, or discretely purchasing real or personal property, the classic approach was for a â€Å"smurf† to deposit cash at a bank. Cyber laundering is a new way to hide the proceeds of crime and the advance of technological solutions of electronic payments and online gambling has eliminated the need for time and space as compared to the traditional way of money laundering to achieve Cyber laundering. Countries with bank-secrecy laws are directly connected to count ries with bank-reporting laws, making it possible to anonymously deposit â€Å"dirty† money in one country and then have it transferred to any other country for use. Depending on which international agency you ask, criminals launder anywhere between $500 billion and $1 trillion worldwide every year. The global effect is staggering in social, economic and security terms. Terrorist funds are recycled in the financial system through a variety of layering techniques which take advantage of regulatory and supervisory weaknesses. †¢ The abuse of the Internet by money launderers is potentially a significant threat. Till date, there are only few criminal cases concerning so called cyber laundering. But there are some symptoms observed by international organizations, law enforcement agencies, financial intelligence units and financial institutions. Criminals have been constantly seeking new ways to clean their illicit gains in order to stay ahead of law enforcement. Similar situation was in case of wire transfers in the 80s and 90s. Due to its decentralized structure, the internet has increasingly become the mechanism of choice of many criminals to channel funds from one global location to another, sometimes in mere minutes and, if handled professionally, without leaving traces. Although the amounts thus shifted are currently thought to be still relatively small compared to the overall volume of funds laundered, the practice of using the internet as a tool to hide the origins of illicit funds is growing fast. And as criminals and terrorists across the world get increasingly cyber-savvy, they make more and more frequently use of the above mentioned advantages of the internet and thus succeed in always staying several steps ahead of most law enforcement officers, who are only gradually starting to get to grips with the virtually unlimited possibilities of the worldwide web. WHAT ATTRACTS CYBER MONEY LAUNDRERS? There are few features of the Internet which attract criminals: 1) Anonymity: The Internet seems to be a â€Å"place† where you can hide yourself among millions of other users; where you can pretend to be someone else since no one can truly identify you. But it seems that is no longer true, since there are some legal obligations put on Internet Service Providers to record and keep log files for a long period of time. They show which computer and when was connected to Internet. This measure is being used to fight computer crimes. It makes law enforcement’s work to trace somebodys activity in cyberspace easier. Of course there are some means to circumvent them and to keep the anonymity. They include Internet Protocol (IP) spoofing, use of modem connections (every time user connects he gets different IP address), Wireless Fidelity technology which allows to abuse publicly open so called â€Å"hot spots† or unprotected routers to connect to the Internet, use of pre-paid phones as modem in order to connect to the Internet (it hides the identity of a user). Also the use of encryption technology (widely available on the Internet) and many proxy servers hinders the efforts of law enforcement to catch cybercriminals. ) No Face-To-Face contact: This is called the depersonalization of financial operations. When we are using one of the financial services available on the Internet, we actually use our computer (and software) which connects to the banks server. The whole process of placing orders (making requests) and executing them is fully (or partially) automatic without the presence of a hum an factor. So in fact we can very easily pretend to be someone else each time we â€Å"visit† bank in the cyberspace. The financial institution’s server checks only two things the login (e. . unique ID number) and the password – not the true identity of a customer. If the information is correct (meaning the same as the one stored in servers memory), the access is granted. As a result, it would be harder to detect and hold up transactions related to money laundering activities. It also cuts out another potential source of reporting suspicious transactions – financial institution employees. 3) Speed of the transactions: Money laundering process would be less expensive and faster as the one using ‘normal’ or old-fashion transactions. New payment technologies permit to move funds more rapidly on long distances and make law enforcement work even more complicated. Some of them are instantaneous e. g. within one financial institution. It allows launderers to move funds very quickly within one country or even worldwide. In essence it makes hiding the illicit source of money easier and difficult to trace. It makes also the whole procedure cheaper. 4) Globalization process: free movement of goods, services, people and new payment technologies: The globalization of economy includes the necessity for people (entrepreneurs nd customers) to move, invest and spend money wherever they want to. In order to achieve that with the help of developing information technology, there have emerged new payment technologies. They allow freeing ourselves from carrying large quantities of cash, as well as to do businesses at a long distance. Another word is â€Å"investments mobility†. Access to the Internet and to on-line services is easy and common. This channel of the distribution of financial or investment products has become very important factor. These services will become even more significant for financial institutions in the near future. There is also a trend to reduce any obstacles (including legal ones) in trade between countries or moving funds around the world to find more efficient way of investing them. 5) Cross border activity: involves several jurisdictions, mutual legal assistance treaties issues: The on-line service provider’s abode usually differs from the place where the servers are located in reality, from where these servers are administrated, or from where the client accesses the Internet. The new payment technologies let us conducting business between different countries, various legal systems. It means there are several jurisdictions involved in the case of an offence. And the cooperation between law enforcement, revenue services and judiciary is one of the most difficult tasks as far as the transnational criminality is concerned. Even though there are plenty of mutual legal assistance treaties and international conventions. So in fact it is easier to get away from the government agencies with money derived from illicit activities. But we cannot stop the development of new payment technologies in order to fight crime (including money laundering), since some of these features are important for lawful commercial activities, too. They encompass speed of transactions, access to customers or counterparts and capacity to extend beyond national border. As a result we need to find another way to prevent and fight money laundering in the cyberspace. It has to be stressed that the launderers and other criminals sponge on the development of new payment technologies. On the other hand they also stimulate that development by exploiting it. In other words we need to learn the causes and the phenomenology of cyber laundering in order to fight it efficiently or just to control it. In general ‘Cyber Payments’ can be described as payments which facilitate the transfer of financial value in the Internet. Some call it digital currency or e-cash, but those terms cover only a part of the phenomenon. That technology has a strong impact on the way we do business, transfer money (and other values) and the cash-oriented society. The common element is that these systems provide counterparts with immediate, convenient, secure and sometimes anonymous means by which they can transfer financial value. Although these systems will provide promptly evident benefits to legitimate commerce, it may also have the potential to facilitate the international movement of illicit funds. At the same time it prevents law enforcement from obtaining necessary information to detect illegal activity. †¢ Any financial institution that offer on-line banking should have procedures, whether it be driven by software, humans or a mix of the two, that verify the identity of the customer who seek to do business with the institution. This can be difficult for on-line banks that often rely on customers to confirm who they are through passwords. There are also different typologies of what is being encompassed by term cyber payments. It may include: 1. Internet Payment Systems Companies provide so called electronic cash or e-cash services to their customers. It is a sort of replacement for physical cash. Usually, software which stores value on the computers of their clients (merchants and consumers) is pro vided to them. This stored value can than be transmitted via the Internet between personal computers in order to buy and sell goods or services. Example, mobile payments, micro-payments, etc. 2. Stored Value Cards Also known as â€Å"smart cards† or e-purse; those cards are pieces of plastic, typically the size of a credit card. They contain a microchip (a memory chip) to which value can be encoded. These cards can be loaded (or added value) via automatic teller machine, properly equipped telephones, personal computers and from other stored value cards using a device which can transfer value directly. But the range of possibilities depends on the system. Theoretically they can be programmed to store billions of dollars. However, most current stored value card programs place a limit on the amount f value that can be loaded onto any individual card. 3. Smart cards Smart cards may make it easier for the launderer to transfer illicit funds without detection by law enforcement and financial institutions. Because the cash value is stored on the card, there is no need for the merchant to dial up a bank or credit card company to get approval for the transaction. What is more interesting and use ful for launderers, funds can be moved from one country to another without alarming financial institution. A card issued in one country can be used to withdraw money in another one. And users may hold numerous cards. They can allow criminals to move billions of dollars without using banks at all. Digicash was developing a computer-based payment system that involved so called â€Å"one way privacy† method. It means that payers can check who received money from them, but does not allow the recipients to find out where it came from. 4. On Line Banking Many financial institutions provide their customers with software to conduct most, if not all, of their banking business via personal computer. 3 This software allows customers to check account balances, transfer funds between accounts and direct payments to creditors. But these days you dont need special software. A typical web browser is enough since it uses encrypted connection protocols. You can access also virtual casinos, universities, libraries, bookstores, auction houses, etc. Today, most financial institutions globally, and many non-financial institutions, are required to identify and report transactions of a suspicious nature to the financial intelligence unit in the respective country. For example, a bank must verify a customers identity and, if necessary, monitor transactions for suspicious activity. This is often termed as KYC – know your customer. This means, to begin with, knowing the identity of the customers, and further, understanding the kinds of transactions in which the customer is likely to engage. By knowing ones customers, financial institutions will often be able to identify unusual or suspicious behaviour, termed anomalies, which may be an indication of money laundering. †¢ Bank employees, such as tellers and customer account representatives, are trained in anti-money laundering and are instructed to report activities that they deem suspicious. Additionally, anti-money laundering software filters customer data, classifies it according to level of suspicion, and inspects it for anomalies. Such anomalies would include any sudden and substantial increase in funds, a large withdrawal, or moving money to a bank secrecy jurisdiction. Smaller transactions that meet certain criteria may also be flagged as suspicious. For example, structuring can lead to flagged transactions. The software will also flag names that have been placed on government blacklists and transactions involving countries that are thought to be hostile to the host nation. Once the software has mined data and flagged suspect transactions, it alerts bank management, who must then determine whether to file a report with the government. Online services are those services which are present in the world of cyber space. These services are very much helpful in developing our economy. However, these services are more prone to attack by the cyber criminals. On-line banks are a prime target for money launderers. Banks, in general, provide the widest range of financial services. This is the reason why they are always targeted by launderers. What is more important, the regulations concerning opening an Internet bank account are different from one jurisdictions to another. It leads to asymmetric regulations between jurisdictions. The less information is required, the better for the launderer because it conceals her/his identity from law enforcement. †¢ One can come up with simple modus operandi: Bank transfer funds to another bank account; and this is a legitimate company’s income. The service might be a fake. On the other hand, if service is being provided also for â€Å"normal† customers, it gives the opportunity to use the blending technique which makes things even more difficult for law enforcement or financial institution to mark transactions as suspicious. †¢ Some of the online services which are much affected by cyber crimes, are as follows: 1) PayPal : It acts as non-bank, Internet-based agent – payments intermediary for individuals and organizations that want to trade or transfer funds via the Internet. A person sets up a pre-paid account in his name with this agent. It can be funded from a credit or debit card or a bank account. Using those pre-paid funds, person can buy goods or transfer funds to other agents account holders. The payment or transfer of funds occurs as a book-entry transaction between the agents accounts. When an account holder wishes to access the funds located in his account, he order agent to credit his credit or debit card or bank account via a credit transfer or a paper check. 2) Credit cards: There is a very similar situation with the use of credit cards or e-cards. They are widely use by customers who wish to pay for services available on the Internet. None of other companies involved in the process would think that there was anything suspicious about the transactions. 3) Pre-paid cards: According to Financial Action Task Force report, the most popular method of cyber laundering is the use of pre-paid cards. 7 There are two types of cards: open and close system. First one is a typical debit card with which everyone can pay for services, goods or withdraw money from ATM. Second concerns systems like pre-paid telephone cards which can be bought and then resold. They can be exploiting in all three stages of money laundering (NDIC, 2006). The pre-paid cards are especially good to transfer funds across borders. 4) On-line Gambling: Internet gambling has been identified – by experts in the field of money laundering and tax evasion – as a potentially ideal web-based service to legitimize ill-gotten gains. In the real world casinos are used to launder dirty money. The same thing can be done by on-line gambling sites. There are two possibilities: launderer exploits legitimate web-based service or launderer sets up an on-line gambling company in order to clean money. It is an excellent method because transactions are conducted primarily through credit cards as mentioned earlier. Additional obstacle is the place where on-line gambling companies operate. Usually, they are based in off-chore financial centers which lack regulatory or prudential measures. This method can affect a normal bank since such companies have their accounts in offshore banks that, in turn, use a reputable United States correspondent bank. The tracing of the source and ownership of the illegal money that moves through these accounts is difficult or impossible for enforcement and regulatory agencies in the United States and elsewhere. 5) On-line Auctions: Another business that can be useful for launderers is the auction sale. It is a booming industry in the Internet. It allows its registered users to put items on a sale or to buy such items. There are auction sites which offer some basic financial services, too. They do it for security reasons for persons buying and selling things. The buyer sends money to companys bank account and the seller sends the item to the buyer. If everything is â€Å"all right† and the item is exactly as it was promised by the seller, the company sends money to him/her. It also gives the whole process the appearance of licit business activities since it involves reputable auction company and its bank account. Since this is auction price has no limits and the Smurf can bid higher and higher. Actually the higher the price is, the more dirty money receive legitimate appearance. 6) Mobile-payments: Mobile payments can be described as payments done through the use of services via mobile phone or any other communication device (FATF, 2001). Payments are initiated using voice access, text messaging protocols, or wireless application protocols (WAP) that allow the device to access the Internet. However new mobile payments services are not based on an underlying bank or credit card account. The telecommunication operator acts as a financial intermediary to authorize, clear, and settle the payment between its client and the mobile service provider. The GSM operator engaged in these activities usually are not overseen by a country’s central bank or other banking regulators but may be subject to anti-money laundering measures. There are two possibilities. The operator may either: a. allow customer to charge transactions to the phone bill (post-paid), or; b. may permit the phone owner to fund an account held by the telecom operator for the purposes of making payments (pre-paid). Pre-paid phone gives also a sense of anonymity since usually it is not required to register the identity of a SIM card buyer. Prepaid mobile payments accounts operate in the same manner as a prepaid card or an electronic purse. 7) Digital Precious Metals (DPM): The ground for using Digital Precious Metals services is to facilitate on-line transactions without regard for underlying currencies or access to foreign exchange. Those transactions have immediate finality since they are conducted as a book-entry transaction between the dealers accounts. It involves the exchange of options or the right to purchase an amount of precious metals at a specific price. These derivatives can be exchanged, like any other traditional commodity or securities derivatives, between account holders. Consumers purchase a quantity of virtual precious metal holdings based on the current price of the metal on the world commodity exchanges. Once a purchaser has acquired a quantity of the virtual precious metal, those holdings or a portion of them can be transferred either to another individual or a merchant in exchange for goods and services. The dealers internal regulations usually differentiate between themselves. There might be some restrictions or limits on value of DPM, method of funding or usage of account . Sometimes they allow anonymous accounts. The access to account only via the Internet hinders dealers efforts to verify customers’ true identity. It shifts the money laundering risk to a new level. 8) Virtual Money Laundering: There is a relatively new method of laundering money and is called virtual money laundering. Criminals can make use of the growing in popularity of the massive multiplayer on-line role praying games or web based social services, e. . Second Life, Entropia Universe. What is so interesting in it as far as money laundering is concerned? Some of them allow purchasing virtual currency using â€Å"old-fashion† real money at a fixed exchange rate. Then the player (user) can earn more in virtual world, exchange it with other users, buy and sell virtual items. It works in both directio ns – the virtual coins can be converted into real money and transferred to desired account before withdrawing it from ATMs worldwide. Sometimes players are given a re-loadable debit card with which they can withdraw money directly from ATM. Although it is difficult to provide an all encompassing definition of a cyber payment, it is possible to make some generalizations. It means all of the systems which intend to allow their users to move funds electronically (in the Internet). They may serve as a cause (a legal title) to perform transaction (transfer of funds) or tool to perform transaction (transfer of funds) . The latter needs a few words of explanation. Banks allow their account holders to send funds from one account to another one. However it is possible to establish a bank account with false ID or hire someone to do it for us for a commission. Therefore one person can have an access to different bank accounts and enter them as a different person simultaneously via the Internet. If the accounts are located in one bank there is one more vital advantage. There transfer is almost instantaneous which allows for fast moving funds and multiple withdrawing them in cash at the end using ATM. †¢ New payment technologies depend on applications of high-speed communication and information analysis that is part and parcel of the use of computer based information processing. The system bases on fast ways of communications and computing data using networks. Cyber laundering was believed to be the latest technique in money laundering typology. So far, the process has been depending on a physical transportation of cash to conceal the existence of illegal source or blending licit companys incomes with illicit ones. As the physical moment of cash has become more risky and the electronic means of communication have emerged, the launderers have changed their modus operandi. The wire transfer system have been allowing organized crime, as well as legitimate businesses and individual banking customers to enjoy a swift passage for moving money between jurisdictions. †¢ Although there are no or just few criminal cases connected purely with Internet (it depends on jurisdiction), it does not mean that there is no cyber laundering activity going on and all of this is just a hype provided by law enforcement agencies in order to get more power. Maybe we look not thoroughly enough or our instruments arent good enough to detect this phenomenon? However, using Internet based financial services is possible on all stages of money laundering process. 1) The Placement Stage The first step in money laundering is the physical disposal of cash. Traditionally, placement might be accomplished by: proceeds derived from criminal activity in domestic banks or other types of financial institutions, With cyber laundering, cash might be: However in case of cyber crimes, there is no need to go through this stage, since the money (or other values) already has an electronic form and â€Å"exists† in cyberspace. Internet frauds, identity thefts, false investments opportunities may serve as examples. 2) The Layering Stage The second stage of money laundering process benefits the most from the on-line services. The layering involves creating complex layers of financial transactions to distance the ill-gotten gains from their source and break the audit trail. There are plenty of traditional techniques, such as the wire transfer, the conversion of deposited cash into other financial instruments or goods, and investment in legitimate businesses, using shell companies. The most important issues for launderers are: the speed, the distance and the anonymity. All of them can be provided by on-line financial services. It includes: 3) The Integration Stage The last stage has an aim to make the wealth derived from criminal activities appear legitimate. There are also many traditional techniques such as: using front companies, â€Å"lending† money back to the owner, transfer pricing, false invoicing, winning ticket, etc. The most effective way is probably to establish an on-line service company. Offering services (true or fake) provide incomes which appear legitimate. Funds end up on safe corporate account after the second stage somewhere in off-shore jurisdiction. It could deal with gambling, betting, etc. However the service would never be delivered – there would be no (net) winnings paid back to the account. The payment would appear as profit in the books of the Internet service company. Thus the owner would appear to be legitimate – a profit of her/his own Internet Company. Payment for services may come from different parts of the world; there are no geographical restrictions. Since there are just a few criminal cases we could describe as cyber laundering, presented below specific techniques can be describe as potential money laundering modus operandi. EFFECTS OF CYBER MONEY LAUNDERING †¢ Some of the effects of the menace of cyber money laundering are as follows: 1) Terrorism – Terrorism is an evil which affects each and everybody. Now and then we can find terrorist attacks being made by terrorists. These attacks definitely cannot be done without the help of money. Money Laundering serves as an important mode of terrorism financing. Terrorists have shown adaptability and opportunism in meeting their funding requirements. Terrorist organizations raise funding from legitimate sources, including the abuse of charitable entities or legitimate businesses or self financing by the terrorists themselves. Terrorists also derive funding from a variety of criminal activities ranging in scale and sophistication from low-level crime to organized fraud or narcotics smuggling, or from state sponsors and activities in failed states and other safe havens. Terrorists use a wide variety of methods to move money within and between organizations, including the financial sector, the physical movement of cash by couriers, and the movement of goods through the trade system. Charities and alternative remittance systems have also been used to disguise terrorist movement of funds. 2) Threat to Banking System – Across the world, banks have become a major target of Money Laundering operations and financial crime because they provide a variety of services and instruments that can be used to conceal the source of money. With their polished, articulate and disarming behaviour, Money Launderers attempt to make bankers lower their guard so as to achieve their objective. Though norms for record keeping, reporting, account opening and transaction monitoring are being introduced by central banks across the globe for checking the incidence of Money Laundering and the employees of banks are also being trained to recognize suspicious transactions, the transactions representing legitimate business and banking activity from the irregular / suspicious transactions. Launderers generally use this channel in two stages to disguise the origin of the funds first, when they place their ill gotten money into financial system to legitimize the funds and introduce these funds in the financial system and second, once these funds have entered the banking system, through a series of transactions, they distance the funds from illegal source. The banks and financial institutions through whom the ‘dirt money’ is laundered become unwitting victims of this crime. 3) Threat to Economic and Political Stability – the infiltration and sometimes saturation of dirty money into legitimate financial sectors and national accounts can threaten economic and political stability. An IMF working paper concludes that money laundering impacts financial behaviour and macro-economic performance in a variety of ways including policy mistakes due to measurement errors in national account statistics; volatility in exchange and interest rates due to unanticipated cross border transfer of funds; the threat of monetary instability due to unsound asset structures; effects on tax collection and public expenditure allocation due to misreporting of income.