bluuebunny/crossref_metadata_2025 huggingface dataset:
Guernsey: Study of a Finance Centre and Its Fight Against Fraud
Authors: Crook Peter G.
Published: January 2008

It might seem strange to some that a financial services regulator is writing about fraud. Historically economic crime is the province of law enforcers but the inescapable fact is that involvement with fraud and other forms of financial crime is a threat to the reputation of a financial institution. Anything that threatens such institutions threatens their integrity and therefore the interests of depositors, investors, other creditors and the environment in which firms do business. As a result, the Guernsey Financial Services Commission has become ever more involved in dealing with the threat of economic crime. Indeed, throughout the world, regulation and the prevention of economic crime are becoming increasingly entwined. The proposed role of the Financial Services Authority in the UK vis‐à‐vis the regulatory bodies which are amalgamating into the Financial Services Authority is a case in point.
Mercosur: ‘Organised Crime, Money Laundering and Harmonisation of Legislation’
Authors: David Pedro R.
Published: January 2008

Section 1 of the Asuncion Treaty sets up the Common Market of the Southern Cone (Mercosur). It establishes, inter alia, ‘the commitment of the Member Parties to harmonize their laws in the relevant areas, with a view to strengthening the integration process’. Such a harmonisation implies an intention to establish increasingly common criteria and similar patterns at a sub‐regional level to deal with a specific set of rules that are currently dissimilar.
Russia: The Fraudsters' Craftsmanship
Authors: Lavrov Vladimir
Published: January 2008

This paper discusses the most serious financial disaster of a criminal nature that has yet occurred in post‐Soviet Russia — fraud at regional branches of the National Central Bank of Russia during the early 1990s.
Money Laundering Control in the Financial Regulation Context
Authors: Blair Michael
Published: January 2008

Readers of this journal may find it useful to have a short note about the implications for control over money laundering of the government's proposals in the Financial Services and Markets Bill. This Bill was introduced into the House of Commons in June 1999, and is presently going through the Standing Committee stage in that House. At the time of writing this note, the only provisions relevant to money laundering that have been considered and approved by the Standing Committee are those relating to the so‐called financial crime objective.
Corruption and Money Laundering: The Role of the Private Sector
Authors: Diekman Peter A.M.
Published: January 2008

The fight against corruption and money laundering is a universal phenomenon. Corruption has a negative impact on the economy and, in the long run, on economic prosperity. Corruption, as part of economic crime, can flourish in circumstances where it is given incentives and where countervailing powers are weak. ‘Corruption is, at most, a second‐best response to a government failure. At worst, it is a highly distortionary method of public choice.’ Corruption can be defined as the abuse of public office for private gain and is a distortion of the government system.
Solicitors and the Prevention of Money Laundering
Authors: Campbell Andrew
Published: January 2008

‘The activities of professional advisers, particularly lawyers has, in the past, caused considerable concern in the field of money‐laundering activities, due in no small part to the existence of the secrecy generated by the attorney‐client privilege.’
The Advantages of a Dual System: Parallel Streams of Civil and Criminal Enforcement of the US Securities Laws
Authors: Newkirk Thomas C. , Brandriss Ira L.
Published: January 2008

In a high‐profile case that first drew big media headlines last February, a New York brokerage firm and a ring of eight brokers on the floor of the New York Stock Exchange were charged with perpetrating a scheme in which they made over $11.1m in illegal profits and at the same time covered their tracks with an elaborate fraud.
Money‐Laundering Control: Elusive Dream or Achievable Reality?
Authors: McCusker Robin
Published: January 2008

To attempt, or aim, to control money laundering by regulating those sectors which facilitate and therefore (wittingly or not) encourage and sustain its practice is rather to miss the point. The concentration on curing or solving the phenomenon of money laundering through regulation is, for two key reasons, ultimately self‐defeating.
Fraud Control in Offshore Banking Centres
Authors: Alba Ricardo M.
Published: January 2008

New measures to prevent financial crime in the offshore banking centres of Latin America and the Caribbean are helping to bring about more effective controls. The author welcomes the present trend towards closer international cooperation and greater vigilance.
New Forms of Transnational Policing: The Emergence of Financial Intelligence Units in the European Union and the Challenges for Human Rights: Part 2
Authors: Mitsilegas Valsamis
Published: January 2008

This paper consists of two parts, the first of which was published in the last issue of this Journal (Volume 3, Number 2). The second part of this paper will deal with the legal framework of the European Union.
Singapore: New Money‐Laundering Law under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act
Authors: Sin Liang Tan
Published: January 2008

After six years, the money‐laundering law, under the Drug Trafficking (Confiscation of Benefits) Act 1992 (DTA), is now changed. The DTA (which came into operation on 30th November, 1993) has been criticised by some for its limited scope in criminalising only drug‐related money‐laundering activities. Others perceived the lack of powers to extradite money‐laundering offenders as another shortcoming. This is no longer the case today in Singapore. This paper highlights some of the changes recently introduced under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (SCA) which was passed on 6th July, 1999 and came into operation on 13th September, 1999 (‘commencement date’). To be sure, the SCA is not new legislation; it is merely an amendment to the DTA. One of the amendments was the renaming of the DTA to reflect the criminalisation of corruption and other serious crimes as money‐laundering offences. Hence, the law governing money laundering is no longer called the DTA but the SCA.
Preventing Tax Evasion through Money‐Laundering Legislation
Authors: Burrell Peter
Published: January 2008

In 1998 there was significant controversy about whether the UK money‐laundering legislation applied to the laundering of the proceeds of both domestic and foreign tax evasion. Despite the issue receiving widespread publicity at that time, in particular in the Guardian, the topic still attracts controversy today, particularly if it is suggested that the existing legislation applies to foreign tax evasion. There are a number of arguments used by the opponents to any suggestion that foreign tax evasion is caught in this way, the principal one of which appears to be that, as a matter of public policy, the English courts will not provide assistance to a foreign state in the collection of its taxes. For the reasons given below, the author does not believe that on closer examination that rule of public policy is applicable.
Money‐Laundering Prevention: A 21st‐Century Spanish Inquisition
Authors: Kirk David
Published: January 2008

The fight against financial crime, as we enter the 21st century, becomes daily more complex. Crime is said to be big, international, capable of destabilising small countries and bringing down large companies. It affects us all. At the same time, police powers are being eroded by bleeding‐heart liberal do‐gooders who introduce civil liberties into every argument and rely on the Human Rights Convention at every turn.
Recognising and Reporting Money Laundering: How Well Should You Know Your Customer?
Authors: Jackson Andrew
Published: January 2008

Money laundering is as old as the hills. It simply has not always been dignified with such a grand title. The reason why, in the year 2000, groups of lawyers, bankers, regulators, policemen and other professionals can actually sit at a conference discussing this phenomenon is simply because as time has gone by the sums involved have increased dramatically and the world's financial services have become more and more complex.
The New EU Draft Money Laundering Directive: A Case of Inter‐Institutional Synergy
Authors: Stefanou Constantin , Xanthaki Helen
Published: January 2008

Seen as one of the major international instruments in the fight against organised crime, the 1991 Money Laundering Directive 91/308/EEC has been the EU's main weapon in its endeavours to ensure that the liberalisation of the financial markets and the consequent freedom of capital movements ‘… is not used for undesirable purposes, such as money laundering’. However, in view of changes in the 1990s at the national and EU levels and in the international environment, the 1991 directive is no longer considered an effective and adequate legislative instrument in the field of money laundering. The legislative response of the EU to these changes is the Draft Money Laundering Directive which has recently been put forward by the Commission and has been — somewhat unexpectedly — wholeheartedly supported by both the Council and the European Parliament (EP).
Tax Evasion: Update on the Proceeds of Crime Debate
Authors: Bridges Martyn J. , Green Peter
Published: January 2008

This paper considers the argument that the financial benefit (or ‘pecuniary advantage’) derived from tax evasion does not represent the proceeds of crime for the purposes of the money‐laundering legislation. The paper then considers a recent Court of Appeal case concerning an appeal against a confiscation order in relation to tax evasion, and its potential implications for those seeking to defend charges of tax‐related money laundering.
Proving the Criminal Origin of Property in Money‐Laundering Prosecutions
Authors: Bell R.E.
Published: January 2008

A successful prosecution for a criminal offence requires a prosecuting authority to prove beyond a reasonable doubt that a defendant possessed the requisite mens rea, or mental state, and that at that time he also committed the actus reus of the offence, that is to say those elements of the crime apart from the mental element. One of the most common features of the actus reus of money‐laundering offences across different legal jurisdictions is that the prosecution usually has to prove, inter alia, that the property which was the subject of the transaction was, as a matter of fact, the proceeds of crime. Some variations will however occur, in that in certain jurisdictions there may be a requirement to prove that the property is the proceeds of a particular predicate offence; in others it may be sufficient to prove that the property is derived from any form of criminal conduct. This paper examines the ways in which law enforcement authorities have attempted to prove this clement of a laundering offence, and concludes by making some suggestions for alleviating the difficulties inherent in doing so. Given that there have been relatively few convictions for money laundering in the UK, many of the examples are drawn from other jurisdictions, some of which have much greater experience of such prosecutions. Occasional examples are also drawn from civil forfeiture cases. While the standard of proof in such cases is that applicable in civil proceedings rather than the criminal standard applicable in money‐laundering prosecutions, such cases may nevertheless be useful so as to see the type of evidence adduced before the courts in order to prove that property is the proceeds of crime.
Corruption: Main Dangers to Economic and Political Stability and Root Causes
Authors: Feng Ye
Published: January 2008

In China, corruption mainly refers to crimes of corruption and bribery as stipulated in Articles 382 and 394, embezzlement (Articles 382 and 383), misappropriation of public funds (Article 384), accepting a bribe (Articles 385 and 386), a unit accepting a bribe (Article 387), accepting a bribe in mediation (Article 388), offering a bribe (Articles 389 and 390), offering a bribe to a unit (Article 391), offering a bribe for recommendation (Article 392), a unit offering a bribe (Article 392 and 393), accepting a gift without transferring it to the public (Article 394), possession of unexplained property (Article 395, sub‐paragraph 1), concealing overseas bank deposits (Article 395, sub‐paragraph 1), illegally distributing state‐owned assets (Article 396, sub‐paragraph 1) and illegally distributing confiscated property (Article 396, sub‐paragraph 2) in Chapter VIII on Crimes of Corruption and Bribery in the Chinese criminal law. The essential feature of this category of crimes is that they include the worst cases, endangering economic and political stability, where state functionaries, taking advantage of their position and power, not only illegally transfer ownership of property, but also compromise the reputation of the civil service.
Countering Money Laundering: The Global Challenge after the World Drug Summit
Authors: Jayasuriya Dayanath
Published: January 2008

The Special Session of the General Assembly of the United Nations Devoted to Countering the World Drug Problem Together (commonly referred to as the World Drug Summit) was held in New York on 8th‐10th June, 1998. Many presidents, prime ministers and heads of state attended the sessions. Several meetings of representatives of non‐governmental organisations and activists dealing with special subjects preceded, or were held simultaneously with; the sessions. The World Drug Summit adopted a political declaration; a declaration on the guiding principles of drug demand reduction; and measures in relation to five specific areas to enhance international cooperation to counter the world drug problem.
Croatia: The Economic Crime Legacy of the Past Decade
Authors: Ridley Nick
Published: January 2008

Croatia, always harbouring ambitions of becoming an independent nationstate, was caught off guard during the early stages of the events of the break‐up of Yugoslavia in 1990–91 by a combination of Slovenian and pan‐Serbian planning. The Slovenian planning was single‐minded for secession, while the Serbian factor was the ruthlessness of pan‐Serbian elements in both the JNA and the federal government, which manipulated the military campaigns from using limited intervention to preserve the Yugoslav federation to armed conflict in order to enable greater Serbia to gain as much territory as possible. Croatian independence was eventually gained through a combination of survivalist struggle, improvisation, the evocative — and symbolic — holding actions of the sieges of Dubrovnik and Vukovar, European Union recognition of independence, and a certain low‐key tacit rapprochement between Belgrade and Zagreb. The undoubted achievements both of gaining independence and of economic development in the following years, however, have been accompanied by economic criminality. It is this latter legacy that has created the long‐term problems that currently face the new regime in Zagreb.
Money Laundering: The FSA Moves In
Authors: Haynes Andrew
Published: January 2008

Those carrying on ‘relevant financial business’ are already aware of the responsibilities imposed on them by the legislation relating to money laundering. At present this is made up of a variety of statutes, namely the Criminal Justice Act 1988, as amended (in Scotland the Criminal Justice (Scotland) Act 1987), the Prevention of Terrorism (Temporary Provisions) Act 1989, the Northern Ireland (Emergency Provisions) Act 1991 and the Drug Trafficking Act 1994. Pursuant to the anti‐laundering policy adopted by successive governments, the Money Laundering Regulations came into effect on 1st April, 1994, providing details of the requirements that were imposed on those carrying on ‘relevant financial business’. Since then there have been guidance notes issued by the Joint Money Laundering Steering Group, the Law Society and the Institute of Chartered Accountants which set out the steps that those regulated by particular bodies should take to satisfy the law. The latest step is that the FSA has now issued a draft set of rules that will, when enacted, operate in addition to the above. This has arisen as a result of the Financial Services and Markets Act 2000 which, inter alia, gives the FSA the power to make rules in relation to the prevention and detection of money laundering in connection with the carrying on of regulated activities by authorised persons, with the objective of reducing financial crime. In this context ‘financial crime’ is interpreted to mean
The International Anti‐Money‐Laundering Regime: The Role of the Financial Action Task Force
Authors: Alexander Kern
Published: January 2008

This paper analyses the international regime of rules, principles and standards designed to reduce the risk of money laundering in the international financial system. The international anti‐money‐laundering regime ranges from a variety of soft law (non‐binding) principles and rules that involve voluntary cooperative arrangements among states that have evolved in recent years, to a more specific legal framework that binds an increasing number of major states. In particular, the Financial Action Task Force (FATF) and its member states have played a crucial role in developing international norms and rules that require financial institutions to adopt minimum levels of transparency and disclosure to prevent financial crime. The FATF has focused its anti‐money‐laundering efforts on financial institutions because of the ease with which criminal groups have used financial institutions to transmit the proceeds of their illicit activities and because of the threat that money laundering poses to the systemic stability of financial systems.
Israel: Money Laundering: A Clean Break
Authors: Harpaz Guy
Published: January 2008

The Financial Action Task Force (the chief international agency against money laundering) blacklisted Israel (June 2000) as one of the 15 countries that fail to cooperate in the international efforts to combat money laundering. Soon after, the Israeli Parliament enacted the Prohibition on Money Laundering Law, 5760–2000 (the ‘Law’). The Law has far‐reaching legal, economic and policy implications. This paper attempts to sketch the global backdrop against which the Law was adopted, analyse its provisions, expose its implications and draw attention to its pros and cons. It is structured along the following lines: the first section sets out the international campaign against money laundering. The second section describes the pressures exerted by the international community to persuade Israel to join the club of countries that counteract money‐laundering operations. The third and fourth sections analyse the ratio legis of the Law and its provisions, respectively. In the fifth section an account is provided of the problematic aspects of the Law. The last section provides some conclusions that may be drawn at this early stage.
Lebanon: The Fight Against Money Laundering
Authors: Fheili Mohammad I.
Published: January 2008

Shortly after the cessation of hostilities in Lebanon, the Lebanese government with the help of the international community (the United Nations Development Program) launched a nationwide drive aimed at completely stopping the production and trafficking of illegal drugs. A great deal of success has been achieved in that respect. In line with these efforts, the international community began exerting pressure on the Lebanese banking system to do away with its ‘banking secrecy law’ since it was identified, by the former, as a deterrent in its attempts to fight drug dealers, a perception that was not shared by the Lebanese banking community. The rationale behind such a fundamental difference in opinion is, of course, related to the nature of the process beginning at ‘the crime’ and ending at ‘clean money’.
Globalisation of Law Enforcement Efforts
Authors: Aronica Joseph J. , Mukhtyar Madhuri , Coon Jennifer E.
Published: January 2008

In the past decade the incidence of international crime has increased. As Louis Freeh, director of the US Federal Bureau of Investigation (FBI) has stated, ‘grave crime is no longer bound by the constraints of borders’. As such crimes are not limited by state boundaries — approaching them on an international level is crucial. Thus, there has been an increased demand for the globalisation of efforts by law enforcement agencies to halt the rise in business and financially related crimes such as money laundering, tax fraud, securities fraud, intellectual property thefts, extortion, anti‐trust violations, computer crime, corrupt business practices and racketeering and combat violent crimes, terrorism, alien smuggling and drug trafficking.
Undercover Sting Operations in Money‐Laundering Cases
Authors: Bell R.E.
Published: January 2008

It is now generally accepted that, since organised crime has become increasingly sophisticated, globalised and well resourced, law enforcement must consequently shift from its traditionally reactive approach to investigating crime to a more proactive one. While this has happened in a range of fields, particularly drug trafficking, it does not appear that money‐laundering investigations have developed in accordance with this trend, with the exception of in the USA. This paper examines the features of money‐laundering sting operations carried out in the USA, the jurisdiction with the greatest experience in conducting this type of operation, and considers the current potential for money‐laundering stings in the UK.
What's Behind the Wolfsberg Principles?
Authors: Graham Toby
Published: January 2008

The past few years have seen a plethora of anti‐money laundering initiatives. One of the latest is the so‐called ‘Global Anti Money Laundering Guidelines for Private Banking’ formulated at a meeting in Wolfsberg, Switzerland (‘the guidelines’). Other initiatives have been government led. The guidelines were formulated by representatives from the banking industry (in collaboration with Transparency International and Professor Mark Pieth), and launched on 29th October, 2000. They have received a mixed reception in the press. Some have given them a warm welcome, saying they ‘fill … a hole left by government regulators’. Others are less enthusiastic, dismissing them as window dressing to reduce public and regulatory pressure on banks caught out in a series of embarrassing money‐laundering scandals, such as Salinas, Bank of New York and most recently Abacha. There is little doubt that such pressure is part of the reason for the guidelines and they seem to have generated an impression that banks are facing up to this issue, thus reducing pressure.
Drug Kingpins and Blacklists: Compliance Issues with US Economic Sanctions
Authors: Fitzgerald Peter L.
Published: January 2008

The Foreign Narcotics Kingpin Designation Act was enacted on 3rd December, 1999, as part of the Intelligence Authorization Act for Fiscal Year 2000. The Kingpin Act calls for the imposition of a series of US economic and financial sanctions — with a worldwide reach — on ‘foreign narcotics traffickers’, their related ‘organisations’, and those ‘foreign persons’ who support their activities, enforced by penalties ranging up to fines of $10m and imprisonment for ten years. In passing this legislation, Congress specifically looked to the example provided by an earlier set of economic sanctions that prohibited dealings with Colombian narco‐traffickers or entities which they controlled, established by the President under the International Emergency Economic Powers Act (IEEPA) and administered by the Treasury Department's Office of Foreign Assets Controls (OFAC). The controls established by the Kingpin Act, and the associated Foreign Narcotics Kingpin Sanctions Regulations (FNKSR), accordingly, are neither a unique nor an isolated programme. Rather, they represent the latest step in the evolution of a series of distinct, but related, economic sanctions programmes administered by OFAC.
Towards a Convergence of Regulatory and Supervisory Modalities of Offshore and Onshore Banking Sectors in the OECS Sub‐Region
Authors: Bardouille Nand C.
Published: January 2008

An offshore sector makes reference to financial services and non‐financial services frameworks in a country/territory. Clientele who make use of these services are non‐residents of the given jurisdiction. In these service frameworks assets can be diverted to, and business/financial affairs conducted in, an environment where a package of favourable regulatory incentives are in place to benefit clients who would ordinarily not be privy to such regulatory regimes in onshore jurisdictions. These regulatory incentives typically comprise incorporation mechanisms as regards commercial holding companies or overseas subsidiaries in client‐friendly fiscal and exchange control environments.
Australia: Attitudes to Extending the Scope of Anti‐Money Laundering Legislation
Authors: Johnson Jackie
Published: January 2008

As anti‐money laundering legislation is refined, expanded and adopted more readily by an increasing number of countries, criminal elements are finding the need to seek the assistance of intermediaries, other than those currently captured by this legislation, to launder the proceeds of their illegal activities. The sophisticated launderer has both the time and money to explore new opportunities for laundering funds and the necessary means to purchase the experts to organise, arrange or coordinate any scheme necessary to bypass a country's anti‐money laundering legislation.
Discretion and Decision Making in Money Laundering Prosecutions
Authors: Bell R.E.
Published: January 2008

‘Recovering the Proceeds of Crime’, a report by the Performance and Innovation Unit of the Cabinet Office, observed that, historically, there have been very few prosecutions for money laundering in England and Wales. Indeed, in the 12‐year period 1987 to 1998, there were only 357 prosecutions. By way of comparison, in 1995 there were 2,034 prosecutions for money laundering in the USA alone. Given that it is generally accepted there is a significant amount of money laundering in the UK, why is the number of prosecutions so low? There are, arguably, four principal factors which have an impact on the prosecution rate for any criminal offence and each of the four affects the prosecution rate for money laundering.
Drug Kingpins and Blacklists: Compliance Issues with US Economic Sanctions: Part 2
Authors: Fitzgerald Peter L.
Published: January 2008

The proliferation of sanctions programmes over time, each with its own set of regulations and its own peculiar blacklist, makes it more difficult for OFAC to administer the controls in a smooth, consistent and efficient manner. Additionally, unlike other agencies involved in international trade — such as the Commerce Department's BXA, or the State Department's DTC — OFAC has been slow to develop a cooperative relationship with those who must comply with its regulations. While OFAC's singular focus on economic and financial sanctions has enabled it to avoid some of the problems the Commerce Department sometimes experiences as a result of its dual missions of both promoting and controlling trade, it has also fostered a more adversarial relationship with the trading community. As OFAC has focused on each sanctions programme individually, rather than as part of a comprehensive system of controls, it has tended to be insensitive to the needs of those who must integrate its diverse regulatory requirements into an overall business compliance process.
The Dangers of New Technology — Laundering on the Internet
Authors: Philippsohn Steven
Published: January 2008

Out of all the recent surveys, perhaps two statistics are of greater significance than others:
Frankencrime: America's Harsh Money Laundering Penalties
Authors: Cacheris Plato , Steven O'Malley Eric
Published: January 2008

Organised crime in the USA is a central threat to economic growth and social stability. In this respect the USA is no different from other free‐market economies. Meanwhile, sophisticated narcotics trafficking cartels bring violence to streets and sickness to youths. These problems are very real and difficult to solve. But Americans are also showered with factual and fictitious stories of hardened criminals ‘getting off’ easily because a judge was ‘soft’ or the law had a technical loophole that did not pertain to the case's merits. This atmosphere kindles public fear of organised crime and fuels criticism of the justice system to an unwarranted degree. In reacting to this fear, the US Congress has increasingly pushed the US Constitution to its limits to thwart mechanisms that purportedly allow these organisations to function. Unfortunately, such legislation is often ill‐conceived, the product of reflexive reactions that can promote injustices when the resulting laws are applied to situations never envisioned by their drafters. The broadly written and improperly exercised Money Laundering Control Act 1986 (MLCA) is one such statute.
International Approaches to Combating Financial Abuse and Promoting Stable Financial Markets
Authors: Witherell William
Published: January 2008

The Organisation for Economic Cooperation and Development (OECD) governments recognise that the economic and social benefits of open markets for international trade, investment and capital flows can only be enjoyed fully in an environment of sound regulation and international cooperation. Criminal activity and other forms of financial abuse, including tax abuse, can impose high costs on economic and social development, distort resource allocation, challenge stability and integrity of the financial system and undermine confidence in democratic institutions. Growing interactions between national economies and markets and advances in communications and information technology have aided international financial abuses and raised new challenges for policy makers, regulators, supervisors and law enforcement authorities.
Surviving the Challenge: The Constitutionality of the Drug Offences (Forfeiture of Proceeds) Act
Authors: Sykes Bryan
Published: January 2008

The Drug Offences (Forfeiture of Proceeds) Act (the Act) was passed in 1994 by the Jamaican Parliament in fulfilment of its obligations under the 1988 Convention Against the Illicit Traffic in Drugs and Psychotropic Substances. The purpose of the Act is to enable the state to forfeit the proceeds, instrumentalities used to commit as well as any benefit derived from the commission of drug trafficking offences. Under the Act drug traffickers can be deprived of their criminally acquired property and also any property used in the commission of drug trafficking offences can be forfeited even if the property does not belong to the convicted person.
‘Harmful’ Tax Competition and the Future of Offshore Financial Centres
Authors: Dwyer Terry
Published: January 2008

Offshore financial centres are coming under increasing pressure from both the OECD and the European Union. They are seen by many bureaucrats and politicians in OECD countries as facilitating criminal activities such as laundering drug money as well as tax evasion and tax avoidance by residents of high‐tax welfare states. While there are good reasons for nation states to cooperate to suppress criminal activity, this is not true in relation to tax competition. The notion that by engaging in ‘harmful’ tax competition, offshore financial centres are damaging the legitimate interests of OECD nations has no sound foundation in economic theory. Competition in tax matters is beneficial and world welfare enhancing. Governments of offshore financial centres serve their own and the world's interests by providing zero or low tax environments for global business and investment and they are right to insist that treaties on criminal matters should not be used to enforce other countries' tax claims.
Dirty Money, Tax and Banking: Recent Developments Concerning Mutual Legal Assistance and Money Laundering in the Caribbean Region and the Region's Responses
Authors: Drayton Fitz‐Roy
Published: January 2008

The Caribbean has been the focus of a lot of attention over the last year with respect to money laundering. This paper will firstly examine the main international initiatives affecting money laundering in the Caribbean countries. In the second part of the paper there will be a review of the regional efforts that have been taken by Caribbean countries to address the problem of money laundering.
Civil Forfeiture of Proceeds of Crime in Australia
Authors: Lusty David
Published: January 2008

‘It is incorrect to view the recovery of the profits of unlawful activity as a part of the criminal justice process and, as such, justifiable only on the basis of a prior finding of guilt according to the criminal standard of proof beyond reasonable doubt.’
An Overview of Working Capital Management and Corporate Financing
Authors: Pass C.L. , Pike R.H.
Published: January 2008

Over the past 40 years major theoretical developments have occurred in the areas of longer‐term investment and financial decision making. Many of these new concepts and the related techniques are now being employed successfully in industrial practice. By contrast, far less attention has been paid to the area of short‐term finance, in particular that of working capital management. Such neglect might be acceptable were working capital considerations of relatively little importance to the firm, but effective working capital management has a crucial role to play in enhancing the profitability and growth of the firm. Indeed, experience shows that inadequate planning and control of working capital is one of the more common causes of business failure.
The Pricing of Non‐competitive Government Contracts
Authors: Lawson G.H. , Stapleton R.C.
Published: January 2008

This article is based on responses to the 1982 general invitation from the Review Board for Government Contracts. The authors' main contention is that the pricing of government contracts has hitherto been deficient in at least two fundamental respects — the use of the historic cost accounting model as a computational framework for the costing and pricing of non‐competitive Government contracts and the use of ex post accounting rates of return for estimating target rates of return.
DCF Trends and the Problem of Nonresponse Bias
Authors: Pike R.H.
Published: January 2008

This paper examines the extent to which discounted cash flow methods — the theoretically preferred capital investment appraisal approach — are used in the evaluation of capital projects within the United Kingdom.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

Graphical Interfaces for MS‐DOS. We agree that the MS‐DOS world is moving in the direction of graphics‐based interfaces. Although at least one person (see Letters in the November 1988 issue) thinks that we fail to grasp this fact, that was never at question. MCA (Micro Channel Architecture, IBM's new baby) as a hardware architecture is at question; and we stand by our decision to wait and see how the whole thing between MCA and EISA falls out.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

dBase IV Finally Arrives. The granddaddy database system was finally shipped close to Christmas. If you submitted an upgrade order, you should have received it by now.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

MacWorld Expo Report. With over 400 vendors filling some 1400 booths in San Francisco's Moscone Center and Brooks Hall and Civic Auditorium, MacWorld Expo clearly demonstrated that the Apple Macintosh had matured in its first half decade as a computing choice on its own grounds and as a vehicle to work with other computers. As usual, there were a number of hardware and software announcements but none as anticipated as those from Apple Computer. It was well known that Apple would describe at the Expo a new version of its most popular CPU, the Macintosh SE, thanks in large part to leaks at Apple that supplied page one copy for MacWeek in three consecutive issues before the Conference. Nevertheless, there was hope that in spite of these previews, Apple might start the year off with a huge surprise, describing the oft‐hinted and wished‐for laptop Mac, or a high‐end model utilizing erasable optical disk technology. There were no surprises from Apple, other than the obvious — that there will be a number of CPU options for the prospective Macintosh owner by the end of the calendar year.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

LOTUS ADD‐INS Lotus 1–2–3 has been on the software bestseller lists for years and years. It seems never to leave the top spot. When it was first introduced for the IBM computer, it was written for MS‐DOS, Microsoft's operating system. Lotus had as much to do with the success of MS‐DOS and IBM's new machine as any other program. Indeed, it was history repeating itself. Visicalc had done the same thing for the Apple II.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

HARDWARE: AN ONGOING COST. Libraries are accustomed to using forty year old typewriters. They are used to keeping furniture so long that it turns antique before they can get rid of it. Library vehicles are legion for having been run into the ground. Why replace a vehicle when you can replace the engine instead? ‘Amortization,’ if it is used at all, means what happens to a thirty‐year mortgage thirty years later, except libraries use this same schedule for every piece of equipment in the building. The goal for the building, of course, is to get it on the National Register for Historic Places. A look through the Register will show you how remarkably successful we have been in achieving this goal.
Dos Workstations:Getting by with a little Help! from Flambeaux
Authors: Schuyler Michael , Brass Valerie
Published: January 2008

Finally, a package that I can understand! That's how I felt on discovering the Flambeaux Help! Development Kit (created by Dan Rollins). This package fills a long‐felt need, allowing people with limited computer skill to create on‐line help screens and manuals for use with other software applications. Once a customized Help! manual has been installed, guide screens with instructions for students, co‐workers, and others are easily available by pressing Ait‐H on the keyboard.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

Motorola, Intel new processors. Microprocessors are the core of all personal computers and workstations, literally the computational heart on which hardware and software manufacturers depend to provide increasing power within ever shrinking packages. The two main microprocessor firms, Intel and Motorola, have accelerated the pace of processor design to the point that hardware and software takes months to fully take advantage of the new processor capabilities. At April's COMDEX/Spring 89 Conference in Chicago, Intel announced its newest extension of the 80x86 microprocessor line in the form of the i486. Motorola replied with its latest invention in the 680x0 family, the 68040 processor. Both chips check in with a million transistors or more, claim incredible calculation speeds, promise to be downwardly compatible with their slower relatives, and adopt a hybrid architecture.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

Reduced Instruction Set Computer (RISC) processors represent a different way to design a CPU for a workstation. They are not magical elixirs to supercharge a personal computer into a mainframe; rather, they are simply a different approach to handling information. RISC design has already affected the architecture of more traditional CISC (Complex Instruction Set Computer) processors and will continue to do so well into the next decade. Given the wealth of software written for CISC processors and the pau‐city of RISC shaped applications, combined with the usual lag in software development behind any hardware breakthrough, a full‐fledged RISC library workstation may not appear for some time. Nevertheless RISC has earned a great deal of attention since its practical birth at IBM in 1976 by John Cocke and its pursuit in academic circles at Stanford and the University of California, Berkeley in the early 1980s. Bom from the simple idea of devising a way to complete a computer instruction in a single cycle of a processor, RISC architecture has been called the de facto standard of the next decade for workstations by some and a mere fad by others. Will these chips replace CISC processors entirely? Will they have an impact on library workstations? And will they ever appear in one form or another in the Macintosh? With RISC processors available from MIPS Computer Systems, Motorola, and Sun, and RISC‐based computers produced by Apollo, Sun, Everex, Hewlett‐Packard, and others, RISC is certainly a harbinger of the future of processors in workstations. The market for RISC‐based worksta‐tions is heating up as some manufacturers — Sun, DEC, Data General to mention a few — battle for customers by lowering prices and raising performance.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

MINITELNET NOW AVAILABLE IN THE US. Over a decade ago, the French government introduced Minitel, an electronic gateway to phone numbers, banking services, news digests, travel information, and other online resources. Included in the installation cost of a telephone (250 Francs or $42), more than 5 million of the 9‐inch Minitel monitors have been distributed, with users logging in more than 60 million hours online. At first blush, Minitel is an overwhelming success, generating revenues in excess of 800 million Francs ($136 million) per year. Minitel has already crossed the Channel and invaded the United Kingdom and earlier this year became available in the U.S. with telecommunications software for the IBM PC and the Apple Macintosh. What drives Minitel's popularity? Bold headlines in both France and abroad state that the allure of sex may be the answer.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

THE APPLE MACINTOSH IN THE '90S: PROSPECTS AND DILEMMAS. Over the past six years, technological developments have encouraged librarians to migrate more and more of their computing tasks to the desktop. Routines once left to mainframes and minicomputers are now completed on personal computers and workstations in administrative offices, reference desks, and cataloging carrels. The Apple Macintosh has grown in the past five years to meet these needs of librarians, not in any organized fashion specifically designed for librarians, but as part of a larger trend of greater computing strength for a given price, in pace with hardware offerings from other manufacturers.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

RENOVATING APPLE: THE MACINTOSH IIFX AS EVIDENCE. Last month Apple released a new high‐end Macintosh, dubbed the IIfx, aimed squarely at the technical workstation market. Utilizing a 68030 processor speeding along at 40 MHz, the IIfx is competitive with products such as Sun Microsystems' Sparcstation. Are there clues to Apple's future plans with the Macintosh product line imbedded in the novelty of the IIfx, or is it an evolutionary extension of IIci, IIcx, and IIx into the realm of veritable workstations? More important, does the IIfx represent a new direction for Apple, in light of its turbulent history over the past six months? Let's examine some of these events and place the IIfx in context.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

Who would ever have believed 640K of memory was not enough? Somehow even the experts in the field, those folks who should have known better, apparently had no idea memory could be used so quickly. But like traffic on a freeway, it is a truism that programs expand to fill the available space.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

As computers become integrated into our work environments ergonomics is becoming more and more of an issue. Productivity gains notwithstanding, how comfortable are our CPUs? For people who use computers eight hours a day, the answer is: Not very.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

What is hacking? Is it an art form to explore computers, a means to accumulate information as proof of an electronic passage through security systems and around passwords? Or is it an illegal venture whose sole purpose is mischief, digital anarchy, a form of revolution against the government, corporations, and other powers that own mainframes and their associated data files? The issue of hacking has erupted with even more vigor this year with the conviction of Robert T. Morris, the author of the Internet worm, along with the recent support of hackers by Mitch Kapor, founder of the Lotus Development Corp. A new aggressive stance by the U.S. Justice Department to track down specialists stealing passwords and credit card numbers has created sensational headlines along with a number of new virulent viruses on personal computers.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

Microsoft Windows 3.0 has finally arrived. It was, by all accounts, a difficult birth, accompanied by klieg lights and hoopla stretching years into the past. In many respects, Windows 3.0 was very much like dBASE IV. Both Windows and dBASE IV shipped early versions that didn't work well. Both were embroiled in controversy and promised more than they could offer. They endured a prolonged period of ‘vaporware’ status and were from leading companies.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

A little over three years ago, Apple introduced a new kind of software called HyperCard. Then, as now, this program defies definition. The users of HyperCard essentially fix the boundaries of the program, making it a database, a graphics catalog, an audio resource, a book, or some combination of all of these categories. Apple, in its latest manuals for the program, calls HyperCard “an ”information tool‐kit,” and in its most creative applications, the program truly lives up to this billing.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

Calculating a budget without a spreadsheet is like building a house without power tools. It can be done, but life is infinitely easier and more productive if you trade in the handsaw for a Radial Arm from Sears.
DOS Workstations
Authors: Schuyler Michael
Published: January 2008

No matter what the revision level of a software product, you will purchase it initially as an original program. This initial purchase of software does not need to be at retail prices. Microsoft Word may cost its official $450.00 somewhere, but almost no one sells it at that price. We've been purchasing that product for sometime now, usually for about $200 by mail order. PC Connection (800–243–8088), for example, sells Word 5.0 for $209. Similar discounts are available in many places. Even local retail stores typically knock a large percentage off the official price.
Macintosh Workstations
Authors: Valauskas Edward
Published: January 2008

The New Macintoshes as Library Appliances. Can an information appliance be a library workstation? Can a computer that is low‐cost, easy‐to‐use, and relatively fast for its price also crunch data, manipulate text, invent graphics, and respond to sound? If a CPU is designed for consumers can it also work in libraries? Or should librarians resign themselves to the hands of specialists, those who argue that the best machine to handle bibliographic files is large, complex, and expensive?