商业银行反洗钱内部控制机制研究-外文翻译.doc
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1、 湖南文理学院计算机科学与技术系毕业设计(论文)外文资料翻译学院(系): 湖南文理学院计算机科学与技术系 专 业: 信息管理与信息系统 姓 名: XXX 学 号: XX 外文出处: Internal Auditing ,Vol.19, No.5,pp.22-25,September-October2004 附 件: 1.外文资料翻译译文;2.外文原文。 指导教师评语: 签名: 年 月 日附件1:外文原文 Understanding and Preventing Money Laundering Money laundering,due to todays high-tech,global en
2、vironment,is a worldwide industry that internal auditors are well suited to combat.Background on money laundering The term money laundering is derived from activities carried out by organized crime,with used laundry cleaning businesses to disguise launder -large amounts of cash actually earned throu
3、gh extortion, prostitution, gambling, and boot-legging. The money laundering process involves three basic steps.These steps can be achieved in one combined transaction or in three separate transactions.Placement. In this step,large amounts of illegally obtained cash are placed into the financial sys
4、tem,used to buy high-dollar goods,or smuggled out of the country.The idea is to transform the cash as quickly as possible into other types of assets and thud avoid detection. Layering.This step is performed to hide the illicit funds. Layering is accomplished by creating complex levels of financial t
5、ransactions to obscure audit trails and cloak the true ownership of the funds. Some of the methods used are electronic funds transfers(EFTs), conversion into monetary instruments,investments in legitimate businesses, and the purchase of real estate.In many cases, EFTs are used to shuttle funds aroun
6、d between offshore banks and shell companies.Since so many EFTs are processed each day, determining what is legitimate and what is not can be difficult indeed.Integration.The final step in money laundering integrates the newlylaunderedmoney into legitimate business operations.At that point,many futu
7、re use of the money will further hide its original source. Three popular methods are used to integrate clean money. First , money launderers establish private corporations in other countries and route the money to these corporations.These foreign corporations can then provide loans to the money laun
8、derers back in the home country. Second ,phony invoices are created in import-export business, The import-export company give an inflated value to the export goods, and when the invoices are paid ,the cash is transferred ,including the laundered money, from oe company to the other. The invoices make
9、 the transfer of the money look legitimate.Third,the money launderer simply purchases an offshore bank. Illegally acquired founds are deposited in the new bank,then transferred via EFT to a legitimate bank. The problem of money laundering For most people,money laundering itself is not considered a p
10、articularly heinous crime.However, money laundering provides criminals with access to their proceeds.These proceeds can be used by money launderers to fund a myriad of other crimes.Money laundering furthers the ambitions of drug traffickers ,organized crime members,terrorists,and others.Money launde
11、ring also undermines the integrity of financial markets. While large sums of laundered money may arrive at institutions, they may also disappear just as quickly, causing liquidity problems. In addition,governments lose revenue as a result of money laundering.Money laundering diminishes tax revenue,
12、which often means higher tax rates for other, honest citizens. John McDowell and Gary Novis, in Economic Perspectives, state that money laundering presents the world community with a complex and dynamic challenge. They believe that the nature of the problem calls for global standards and internation
13、al cooperation to reduce the ability of criminals to launder their proceeds and carry out their criminal activities.Current nature of the problem. Linda Davies writes, in Nest of Vipers, The money screamed across the wires, its provenance fading in a maze of electronic transfers,which shifted it, hi
14、d it, broke it up into manageable wads which would be withdrawn and redeposited elsewhere, obliterating the trail. She captures the essence of the current nature of the money laundering problem. In todays high-tech global environment, the money laundering process is even harder to trace than it was
15、in the past. Alvin James, Principal at Ernst and Young,LLP, examined the use of underground financial systems, such as the Colombian Black Market Peso Exchange (BMPE),by terrorists. He noted that while terrorists may not need to launder their money, they do need the means to move the funds covertly.
16、 James notes that the major similarity among under- ground financial systems, also called parallel payment systems, is their ability to facilitate anonymous international transfers of money. That ability is what makes these existing systems so attractive to terrorists: they can use them to move the
17、dollars needed to support their activities. Experts indicate that there should be more coordinated efforts against the BMPE and other money laundering operations. The nature of these efforts should include securities, insurance, and money一changing enterprises. Efforts should be made to force drug do
18、llars out of the safety of the parallel payment systems and into an area less secure for them and more susceptible to law enforcement.The extent of the problem. It is difficult to precisely measure the extent of money laundering, including the number of terrorist dollars moving through the same fina
19、ncial channels. The people and organizations that engage in these activities obviously are not reporting them to the government. However, there have been numerous attempts to establish the magnitude of the problem.Money laundering around the globe has been estimated at $500 billion a year. John Walk
20、er Consulting Services in Australia has created a logical crime economic model that draws on public crime statistics and uses various socioeconomic inputs to estimate the percentage of crime proceeds that will be laundered and where it will take place.They aggregate these estimates and assess the li
21、kely extent of money laundering and each countrys contribution. Preliminary numbers from the model estimate the amount of money laundered globally at $2.85 trillion per year. The model breaks the total into various components. It ranks the sources of laundering and the destinations of the money. Unf
22、ortunately, the United States ranks at the top of both these lists, with a 46.3 percent estimate as to origin of the laundered dollars and an 18.9 percent estimate as to the destination. While this model is not exact (or proven),there is no disagreement over the fact that money laundering is big bus
23、iness.The Colombian BMPE launders as much as $5 billion, or about half of U.S. whole- sale drug proceeds, each year. The BMPE is the primary vehicle used to counter the Bank Secrecy Act (BSA).The peso brokers smuggle large amounts of currency to countries that have correspondent relationships with U
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