...Unethical Corporate Governance (HSBC Money Laundering Case: “Too Big to Fail” does not mean “Too Big to Jail”) About HSBC HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is one of the world’s largest banking and financial services organizations. In 1865, the first branches of the bank were first opened in Hong Kong and Shanghai. HSBC is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited. In 1991, it was founded in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company. The company refers to both the United Kingdom and Hong Kong as its "home markets". HSBC has around 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North America and South America, and around 89 million customers. As of 31 December 2013, it had total assets of $2.671 trillion, of which roughly half were in Europe, the Middle East and Africa, and a quarter in each of Asia-Pacific and the Americas. As of 2012, it was the world's largest bank in terms of assets and sixth-largest public company, according to a composite measure by Forbes magazine (Witty Traders, 2014). HSBC consists of four business groups: * Commercial Banking; * Global Banking and Markets (investment banking); * Retail Banking and Wealth Management; * Global Private Banking. HSBC has a dual primary listing on the Hong Kong Stock Exchange and London...
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...Global Organized Crime Globalization has brought about many new ways of communication and different ways of interaction. Helping societies progress in the ever changing world by introducing beneficial styles and ideas to each other are just some of the positive concepts to result from globalization. Unfortunately, globalization has also led to negative concepts such as illegal trade and other various crimes. Organized Crime has been around for centuries and now exists in a variety of distinctive manners in almost every section of the globe. How is the world today so polluted with crime, and why is there a substantial presence of gangs, racketeering and counterfeiting throughout our society? Global organized crime rose greatly in the early modern era during times of the spice trade and well through the industrial revolution. Throughout this period, markets became self-regulating as well as less dependent on the state from where they were located or originated. The world was rapidly becoming more globalized and crime evolved with it as well. Underground organizations at the time could not be prevented from carrying out illegal trade as well as smuggling. As the world was changing, so were methods of illegal operations. Older structures of organized crime were more centralized. All through the time of the early modern era, organized crime became more diverse, decentralized, and highly mobile, similar to how it is today. In the present day global organized crime has developed rampantly...
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...However, based on the utilitarian doctrine, it is believed that capital punishment can serve a better deterrence in the Chinese context where it can be implemented with swiftness, certainty and severity. According to the Utilitarian theory, the severity of a capital punishment is meant to instill fear so that it prevents people from committing severe crimes such as murder. It is not meant to be retributive by nature. Capital punishment is more preferable as compared to imprisonment for severe crime because it prevents the criminal from committing the crime again after they are being released from prison. From this perspective, it justified that the taking of one life is to prevent the taking of other, innocent...
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...Megacities A megacity is the name commonly given to a city with the population of over 10 million people, Such as; Tokyo, New York, Shanghai, Mexico City etc. The distribution of megacities has changed greatly since the 1950’s. In 1950 megacities were mainly located in MEDC’s with the majority of them found in and around Europe and America. For example; New York, London, Paris, Moscow etc. In comparison to this the pattern from 2013 shows the distribution of megacities to be located in and around Asia in newly industrialised countries. E.g. Tokyo, Jakarta, Seoul, Delhi, Shanghai and Karachi. There could be a number of reasons to indicate why there is such a contrast in the distribution of megacities between 1950 and 2013. I believe one of the biggest reasons is the rapid growth and speed of international immigration. In the mid-20th century there was limited transport between countries meaning international immigration was rare, however now transport has developed it’s become more accessible, faster and cheaper and immigration has flourished. The growing number of megacities could also be due to the increase in urbanisation. In 2007 more than 3.2 billion people (more than half of the world’s population) lived in towns and cities, and in MEDC’s around 90% of the country’s population were living in urban areas. The increase of urbanisation is in many cases due to the job opportunities found in cities. The rate of urbanisation is increasing more each year meaning now the...
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...Mark R. Peattie, Edward J. Drea, Hans J. van de Ven, eds. The Battle for China: Essays on the Military History of the Sino-Japanese War of 1937-1945. Stanford: Stanford University Press, 2010. Illustrations, maps. 664 pp. $65.00 (cloth), ISBN 978-0-8047-6206-9. Reviewed by Roger H. Brown (Saitama University) Published on H-War (December, 2012) Commissioned by Margaret Sankey The Sino-Japanese War of 1937-45 was immense both in its scale and consequences. Nevertheless, Western military histories of World War II have focused overwhelmingly on the campaigns of the European and Pacific theaters, and those specialized studies of the conflict that do exist deal primarily with such matters as diplomacy; politics; mass mobilization; and, in more recent years, Japanese atrocities and public memory. Indeed, as the editors of the volume under review attest, “a general history of the military operations during the war based on Japanese, Chinese, and Western sources does not exist in English” (p. xix). In 2004, Japanese, Chinese, and Western scholars gathered to remedy this situation and in the belief that such a close study of the operations and strategy of the Sino-Japanese War would “illustrate that, in this period, warfare drove much of what happened in the political, economic, social, and cultural spheres in China and Japan.” They further recognized that because “much of the best scholarship on WWII in East Asia is naturally produced in China and Japan,” there was a need to “bring...
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...Riordan Manufacturing, Inc. (Riordan) is an innovative and evolving company that seeks to continue its impressive growth sense the inception of the company. As Riordan continues to grow and adapt to an ever changing economic environment, it must be careful not to be a victim of its own success. Having established plants in various states, and even one in China, Riordan must be aware of the legal ramifications of its decisions. Neglecting to understand the legal process of its actions has the potential to hurt Riordan’s employees, stockholders, and the company itself. Riordan has the opportunity to use existing legal business contexts to help mold and shape its decisions in a way that are beneficial to everyone. The various complexities of business laws have a potentially daunting and detrimental prospect for many companies, but Riordan must not see things this way. We will use Riordan’s reputation and strength to enhance its decision making processes to make the company stronger, while keeping within the legal boundaries of national and international business law. Of the many subjects Riordan will concentrate on, to ensure future economic growth it must first begin with Alternative Dispute Resolutions to potential problem that may arise with the various entities Riordan does business with. Disputes inevitably arise in business relationships. Riordan’s challenge will be handling in an effective and time efficient manner. Alternative Dispute Resolution Alternative dispute resolution...
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...COMPUTER CRIMES A Case Study submitted in partial fulfilment of the requirements for the completion of the course in CIS401M: IT ETHICS AND LEADERSHIP Term 3, Academic Year 2014-2015 by LORETO V. SIBAYAN PAUL MATTHEW G. AVILA Master of Science in Information Technology College of Computer Studies April 2014 TABLE OF CONTENTS ABSTRACT 5 CHAPTER 1 1.0 INTRODUCTION 6 CHAPTER 2 2.0 OVERVIEW OF LITERATURE 8 2.1 CYBERCRIME 9 2.2 THEORIES OF CRIME 2.2.1 CRIMINOLOGICAL THEORIES 10 2.2.2 PSYCHOLOGICAL THEORIES 12 2.3 TYPES OF CRIME 14 2.3 CAUSES CYBERCRIME 19 2.4 CYBERCRIME PREVENTION 22 CHAPTER 3 3.0 ANALYSIS CYBERCRIME CASES 26 SUMMARY OF CYBERCRIME CASES 38 CONCLUSION AND RECOMMENDATION 43 REFERENCES 44 ABSTRACT The 21st century has brought about certain influences in the lives of everyone including the way we do business transactions, the way we gain education and the way we communicate; these influences are mostly revolutionized through the use of modern day technology and though these technologies have been proven to be beneficial to the entire society, it also carries with it aspects that can be worrying for everyone. Certain professionals in the said field use their expertise to illegally develop ways on how to take advantage of others with of course the use of technology hence cybercrime...
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...commodities, although carrying high demand are regulated heavily and sometimes even ban from the market place for reasons pertaining to public safety. Others, however, showing to be a health hazard are still allowed to remain on the market. This definition is according to Merriam-Webster.com. This paper will focus on the economics of cannabis and how by its decriminalization, or legalization, it can be a profitable commodity in the marketplace by the following. Providing an overview of cannabis and how political games have caused an unearned negative public opinion on the commodity. Listing arguments that support the claim that by legalizing this commodity not only crime rates in general, but violent crime rates, will drop noticeably if not substantially providing a savings in the cost of enforcing and prosecuting such crimes. And, that by decriminalization, the federal government can regulate this commodity much like alcohol and tobacco providing new sources of tax revenue. A History of Cannabis The best way to understand the public image that cannabis has today is by looking at how we understood it yesterday. Starting from the first piece of legislation in 1906 and coming to present day medicinal approval in a small portion of US states. This will hopefully address the questions of “Why the war on drugs?”, “Why this particular commodity a drug...
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...Sophia Fan Mr. Carter & Mrs. Farley Humanities - Matteo Ricci November 15, 2012 The Domino Effect of the White Terror Have you ever tapped lightly against one domino and watched it knock down a whole line of these small squares? It is amazing how one single action can reciprocate so many other events. This is not only the case for dominoes, of course- everyday events have occurred like this too. A perfect example of the domino effect is the Communist split from the Nationalists, commonly known as the White Terror. This sudden purge only lasted around three nights, but the effects of the split would last for many decades in the future. The Chinese Communist Party (CCP) split from the Chinese Nationalists in 1927 affected both China itself and other foreign nations through the triggering of major wars, changes in international relations, and the formation of modern China- one of the world’s leading economies. The effects of the split, both positive and negative, would last for many years to come. After splitting from the Nationalists, Mao Zedong led the legendary Long March- a campaign that would garner support for him and split the country into two parties. Although the route was extremely long and dangerous, the popularity gained along the way sustained the marchers. As Mao Zedong wrote in his 1935 poem The Long March, “the Red Army fears not the trials of the Long March, holding light ten thousand...
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...Useful Tool in E-Crime Prosecution? Executive summary This paper sought to examine whether the Fraud Act 2006 could be a useful tool in the prosecution of e-Crimes. It turns out that crimes on the computer net works and other electronic forms have been prevalent for more than two decades without being successfully prosecuted in majority of cases. The Thefts Acts 1968 and 1978 had inadequacies to deal with the kind of offences possible on the electronic forms. Hence, to avoid continual amendments to Theft Acts which could not have retrospective effect, Fraud Act 2006 has been enacted with sweeping changes to enable prosecutions of e-Crimes. Fraud Act 2006 has removed the shortcomings of the Theft Acts within the context of e-Crimes. Although the Act is portrayed to be a little harsh on the one hand, in comparison with the Theft Acts, the Act is certainly equipped as a better prosecution tool to deal with e-Crimes, on the other.. Table of Contents Chapter No | Particulars | Page No | | Executive Summary | 1 | 1.0 | Introduction | 3 | 1.1 | Background | 3 | 1.2 | Aims and Objectives | 14 | 1.2.1 | Aim | 16 | 1.2.2 | Objectives | 16 | 1.3 | Conclusion | 16 | 2.0 | Literature Review | | 2.1 | History behind Fraud Act 2006 | 17 | 2.2 | Fraud Act compared to earlier law | 20 | 2.2.1 | Fraud by false representation | 22 | 2.2.2 | Section11 Obtaining Services Dishonestly | 28 | 2.2.3 | Fraud as a conduct crime | 31 | 2.2.4 ...
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...Chiang Kai-Shek lost control of China to the Chinese Communist Party (CCP) in 1949 following two and a half decades of mistakes and fundamental errors in ruling the struggling and fractured republic. Under his leadership, corruption was allowed to flourish in the nationalist party, failed military campaigns were commonplace, national unity was never created, and the obsession with personal wealth and gain was the rule among large numbers of the higher ranking members of the nationalist party, all of which lead to a complete breakdown of support for the nationalist party from the Chinese people. Chiang never had a “relationship with the common people.”1 From the time he came to power in 1925, he appeared never to understand his people. His obsession with purging the Kuomintang (KMT) of all Communists, his push for a New Life Movement2, making the claim, “first internal pacification, then external resistance”*3, and his use of foreign relationships and criminal organizations to gain superiority and exterminate the communists each played a role in confirming Chiang’s failure. In the fight against the Japanese in World War II, Chiang’s single-minded focus on the Chinese Communists allowed Japan to gain a strong grip in China and occupy parts of the country. It eventually required the help of the United States to defeat and oust the Japanese. Chiang’s repeated military failures against the Japanese caused him to lose support within his own elite KMT group. In an effort to reestablish...
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...History and location 13 3.43 Headquarters circle 15 3.5 The challenges of China Merchants Bank under the construction of international financial center 16 3.52 Competitions from the non-bank financial institutions 17 3.53 Weakness in leading of Shanghai 17 Part4 Evaluation 19 4.1 The transformation of China Merchants Bank 19 4.11 Introduce financial talents 19 4.12Enhance the service satisfaction 21 4.13Adjust the industrial structure 22 4.14 Promote efficiency 22 4.15 Innovative financial products 23 4.2 GFIC analysis and People Factor 24 5. Suggestions 28 5.1 Diversified financial services 28 5.2 Financial personnel policy after the subprime crisis 29 5.3 Make reasonable risk early warning mechanism 30 6. Conclusion 31 7. Bibliography 32 Student statement 33 I hereby declare that the contents of my thesis on 33 Part 1 Introduction and Problem Statement 1.1Introduction In the development of financial globalization, Shanghai is under construction to become one of the international financial centre. In recent years, with the development of Chinese economy, the essential issue needed to build an international financial centre in Shanghai has been paid more and more attentions. Shanghai has earned a lots of achievements in many financial fields. However, it is not a real mature international financial...
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...[ABSTRACT] from the analysis of accounting information distortion that is illegal, because the accounting fraud, manifestations and hazards start to analyze the accounting fraud of China's listed companies the motivation to find out the real causes of the accounting fraud, and through drawing and learn from foreign countries in the prevention and treatment of accounting fraud experience, to present my accounting fraud prevention and treatment response. [Keywords:] listed company; accounting fraud; Governance 1, the listed company's accounting fraud and harm the performance of the form (A) the manifestation of accounting fraud 1. Fictitious business activities. Listed companies, the most common means of accounting fraud, namely through the fictitious transactions, increasing sales revenue or other income, and inflated assets. Such methods often need to forge economic contracts to cope with bills, tax invoices, customs declarations and a series of legal documents, which not only had violated accounting rules is contract Law, tax Law and other important economic Laws and regulations of the open defiance and provocation, is of a serious nature economic crime. 2. Manipulation of related-party transactions. Fraud, fictitious companies, apart from economic activity, more by way associated with particular transaction, such as debt restructuring, asset replacement, non-monetary transactions, etc. to achieve the purpose...
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...1. Environmental Analysis Economic Forecast (Opportunity) Standard Chartered Asia economist Jeff Ng said that the 2015 Philippine economy will remain “anchored” amidst the “tempest” in the global financial system resulting from the frequent adjustments in US interest rate. Mr. Ng pointed out that provided vital infrastructure investments are laid in place, The Philippines may likely reach the higher end of the projection this year. “We expect the Philippines to still outperform the rest of its Asean neighbors. It’s a bright spot in Asia”. He added, “The Philippines is seen as a standout.” Relevance: Standard Chartered Bank has strong confident to stay their business in the Philippines due to good economic development and improving standards of living, poverty levels in emerging market economies (EMEs) are dropping. High opportunity to reach their target market because of high consumer market and investment potential in an economy. The bank expects the Bangko Sentral ng Pilipinas (BSP) to increase interest rates by 50 basis points by the fourth quarter of this year, as major economies continue to adjust their monetary policies as concern over the world economic growth linger. Philippines GDP Growth Rate rise up to 6% in 2015 The Philippines GDP advanced 1.1 percent in the third quarter of 2015, down from an upwardly revised 2.0 percent expansion reported in April to June and below market expectations. While the agriculture sector further contracted, growth in...
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...Siena, Palazzo Pubblico Sala dei Nove 1337-1340 Declaration This dissertation is the result of my own work and includes nothing, which is the outcome of work done in collaboration. Chapter 3, “Complexity, TOC and Terrorism”, was presented in an embryonic form at the ISA conference in Chicago, USA, March 2007. Chapter 4, “Organised Crime”, is the further elaboration of a chapter of the same title published in 2007 in the Oxford Handbook on the United Nations Statement of Length The dissertation does not exceed the word limit of 80,000 words Fieldwork Thailand (money laundering); Indonesia and Burma (deforestation); New York (US money supply); Washington DC and Fort Worth, Texas (Organised Crime linked to terrorist funding); Australia (Sydney, (APG) and Canberra (money laundering, South Pacific); and Rome, Italy (Chinese organised crime). Contact Frank.Madsen@cantab.net Abstract Through an analysis of the presence and nature of international monetary flows of non-declared origin and their relation to deviant knowledge, the thesis determines that both terrorism and organised crime are nurtured by a constant trickle from minor sources rather than by large financial transfers; and that anti-money laundering provisions are misapplied, taken too far, too expensive, and incapable of demonstrating their effectiveness. In lieu of more traditional policy recommendations, the thesis develops a complexity-theory based...
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