Electronic Trade and Money Laundering :: Economics

Electronic Trade and Money Laundering ELECTRONIC TRADE — FEATURES AND EXPECTATIONS Electronic trade is a reality that reveals and promises both rapid and exponential growth. Its constant progress, as well as increasing innovation in electronic payments, has for long been the subject of wide attention, especially for regulatory bodies, in respect of the opportunities for money laundering that these new instruments can provide, and of the responses that regulatory systems can and must develop in their regard. Detailed reports on the wholesale implementation of the new payment systems are available from the Bank for International Settlements. These reports show that, with greater or lesser speed, such systems are taking on a global dimension. Innovation continues incessantly; and rumours spread every day about the development of newer instruments, residing even in the most familiar tools such as mobile telephones." Aside from unpredictable shocking events, which could thwart the advance and availability of technological resources, electronic trade is eventually likely to become the norm, at least in the most advanced countries. It will spread over all markets, just as other instruments — cars, household appliances, telephones — have done before, because it is equally effective, cheap, and within everybody's reach. The main factors still inhibiting widespread diffusion are security risks — such as problems of transparency and symmetry of information; a need for defence from intrusive technologies; a call for guarantees against threats deriving from fraud, embezzlement, counterfeiting, false identities and privacy. These risks are likely to be scaled down, as the diffusion of the new instruments enlarges the market in such a way as to make lawful behaviour thoroughly prevail — which in turn will make the market itself more reliable. Under such conditions, obstacles and constraints that interfere with market development will not be able to resist its inner pressure, or will turn into discriminations and losses in commercial competition, which is positively unwelcome for the economies involved. It is certainly not by chance that in this matter the governments of many countries have so far shown a 'wait and see' attitude. NEW INSTRUMENTS AND MONEY LAUNDERING RISKS In its broadest sense, money laundering includes whatever activity is apt to disguise the source of illicitly earned wealth, dissolving the tracks that can lead back to it. To this goal, whatever means the economic and financial system can supply is beneficial. Experience has shown that money launderers prefer environments featured with poor control, high risks that justify high losses and profits, multiplier effects, little transparency and thus asymmetric information, ease of manipulation, chance of connivance or illicit profit sharing. In this perspective, the internet is an ideal environment. The access to new technologies is more effective, and at

Self Confidence

Self confidence is the ability to posses the absolute sureness of feeling that you are equal to the task at hand. If one is self-confident, that trait shines through the person in everything they do, say, what they wear and how they look. People who have this desirable trait draw others around them in by their untouchable confidence. A confident person can easily combat the hurdles of life and can also influence others by their positive attitude and impressive personality. A confident person believes in themselves, does what they feel is right and is never afraid of failure. Self-confidence is extremely important in almost every aspect of our lives. The reason self confidence is so important is because out of confidence comes success. Proof of this is found in many instances. For example, it is proven that students who begin a test with confidence in themselves that they will achieve a desired goal have a better chance of doing-so opposed to those who begin a test with uncertainty. Another example is in the working world. It is very unlikely for an insecure, unconfident person to be a CEO of a flourishing company. When hiring an employee for an important position, an employer looks for certain qualities and self confidence is one major one. Self confidence is a disease. Friends, family, and all people other people in touch with a person displaying confidence are likely to generate similar self confident feelings. A confident person attracts friendships, but commands respect, too. 69% of women said that men possessing self confidence were 2 times more attractive than those lacking it. ‘I believe that a self-confident man is aware of his imperfections but doesn't allow them to hinder him from being the best person that he can be.’ Alison Austin of Dayton, OH. For a psychology project, two high school boys decided to test out the correlation between self confidence and attraction. They planned for their experiment to take place at a school dance. They two boys of the same social status enter a dance circle. One danced uncomfortably and the other danced with self confidence. As they predicted, the boy who danced self-consciously gained little attention from the opposite sex. On the contrary, the other boy drew attention from several girls and even influenced some of the guys to dance less timidly. This is another form of proof one person with self confidence can send vibes from person to another. Everyone longs to be appreciated and well-liked by their peers. By having a self confident personality, it is easy for others to see your true self break through the surface. Although most self confident people are unaware of the effects of their confidence on their surroundings, self confidence forms the basis of everything in the world. Without confidence sports stars, celebrities, government officials, and other people of high stature would never be where there are at today. Do you think Michael Phelps would have broken records and acquired seven gold medals if he lacked the confidence in his own ability? Do you think President Obama would have been able to represent our country if he believed the critics and stopped speaking out? Do you think Lil’ Wayne would have pursued his career if he listened to the people who told him he had no talent? The answer is no. Without confidence, you are nothing.

How to Resolve Conflict Essay - 1352 Words

Conflict is in inevitable part of our everyday lives. Since no two people view things in the exact same manner, disagreement will most certainly arise at some point in time. Conflict is simply a difference of opinion and is considered to be a normal part of our everyday lives. There are several different forms of conflict and not all of them are considered to be bad. This paper will discuss the causes of conflict, the different types of conflict, and barriers to conflict. According to Communication Research Associates, conflict is a condition of imbalance within an individual (Communication Research Associates, 2005, p. 178). Keep in mind that just as there are disadvantages to conflict, there are also several advantages. In order to†¦show more content†¦For example, if you are at work and walk by someone’s desk and accidently knock their pen on the floor. All of sudden, the person lashes out and starts to curse at you. Knowing that this is not the norm for your coworker, it would safe to assume that they are under some form of stress or have other things on their mind. By knowing this, it becomes easier to respond in a more responsible, tempered, and appropriate, manner. Sometimes ego can become a cause for conflict as well. There may come a time when someone is wrong about something or they may have made a mistake but they refuse to admit it. Because they have such a high ego, they may become self-protective of their situation, therefore causing conflict because they refuse to admit they were wrong. Instead they may choose to become persistent in standing their ground, whether they are right or wrong. During communication, if the intended goals are not clearly identified, there is a greater possibility for error and it could further aggravate a situation, causing conflict. Because each individual is different there are bound to be clashes within certain personality types. For example, if someone prefers to discuss everything in detail and I prefer to get straight to the point then we could have a personality clash because we are not seeing things eye-to-eye. They may view me as being incompetent or irresponsible while I wouldShow MoreRelatedHow Groups Can Resolve Conflicts1678 Words   |  7 PagesThere are usually ways that groups can resolve conflicts before it ever escalates. However, sometimes there can be conflicts in groups that can be a little more difficult to resolve than others. When this happens the last resort for teams is to turn to a third party intervention in order to really resolve the issue. It is best that groups avoid this type of resolution simply because con flicts with and between the team should usually stay within the team. 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