BSA Regulations

BSA Regulations
Bank Secrecy Act (BSA) Regulations According to A Money Services Business Guide registration
means that each business that meets the definition of an MSB must register, except for the
following: BSA regulations require certain MSBs to have registered with FinCEN An MSB
recognized after that date must register by the end of the 180–day period beginning on the day after
the date it was recognized. A branch or solely an agent of an MSB is not required to file its own
registration form. The U.S. Postal Service and Federal or State government agencies are not required
to register. Also, MSBs that provide only stored value services are not required to register at this
time. MSBs are required to renew their registration every two years by December ... Show more
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Such reports are also a key component of an effective anti money– laundering compliance program.
Many MSBs are required to file SARs when they suspect that potentially illegal activity has
occurred The types of MSBs that are currently covered by the MSB SAR requirements are: Money
transmitters, Currency dealers or exchangers, Money order issuers, sellers or redeemers, Traveler's
checks issuers, sellers, or redeemers, and U.S. Postal Service FinCEN is considering amending the
SAR regulation to require check cashers to report suspicious activity. MSBs that provide only stored
value services are not required to report suspicious activity at this time. A SAR must be filed by an
MSB when a transaction is both Suspicious, and $2,000 or more ($5,000 or more for issuers
reviewing clearance records).A SAR must be filed within 30 days of detection of the suspicious
transaction by the
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The Issue Of Trump Companies Using Labor Offshore
First , I am writing this to try to address some very confusing issues for myself, since it seems that
the media no longers presents news, but interprets information in what I consider a biased manner.
Secondly, I hope by presenting my questions, ideas, and concerns, that others can please provide me
feedback to assist with my education on these topics.
The issue of Trump companies using labor offshore seems to be a point for the media. What I do not
understand is why did the government set up the rules to make using offshore labor advantageous? I
guess I would ask why would a businessman choose to pay more and make his product less
competitive? I would pose this question to the media, do they pay the most they can for a service or
a product?
One of the things that is very confusing is the idea of Trump being Anti–Semitic. I believe he has a
daughter that has converted and she still runs a large part of his company.
I also have been told that Trump is a white supremacist, but to my knowledge, he has not been in the
KKK or the Nazi party. I believe that with all the government rules surrounding construction if he
was a white supremacist, he would most likely not use labor that did not meet a certain description.
To that point, the media blasted him for not hiring several white candidates at a hotel in Florida. It
does not make sense to call him a bigot.
As for him being against women, we have yet to have a single situation where we have had the
media, short of

Tax Havens
TAX HAVENS
DEFINING
Tax Havens
Def 1:A tax haven is a country or territory where certain taxes are levied at a low rate or not at all.
Def 2: Tax haven or fiscal paradise are terms used to refer to a jurisdiction which enables its foreign
residents or companies to reduce their tax liabilities from their homelands.
Def 3: "What ... identifies an area as a tax haven is the existence of a composite tax structure
established deliberately to take advantage of, and exploit, a worldwide demand for opportunities to
engage in tax avoidance." (The Economist – description by Geoffrey Colin Powell )
Def 4: US Government Accountability Office was unable to find a satisfactory definition of a tax
haven but regarded the ... Show more content on Helpwriting.net ...
Such companies, often called rotary, are used for providing services, purchase transactions or
particular joint stock companies sales.
offshore company allows for income to accumulate in a low tax jurisdiction. and is used mainly by
corporations and rich people from the world of art. treaty shopping helps tax payers avoid barriers
imposed on them by a double tax agreement, which aim is to prevent people from seeking tax
benefits in third countries.
Personal residency Asset holding Trading and other business activity Financial intermediaries
DISADVANTAGES of Tax Havens
Some people worry about the inaccessibility of their money as it is located in a far away offshore tax
haven. However, in this day and technological age this is not an issue. With the advent of online
banking, it is now possible and, indeed, expected in many offshore financial centres that their clients
will conduct their transactions online.

The main disadvantage for offshore companies located in tax havens is that many government
and governmental agencies will not accept tenders from these types of offshore entities. These
contracts would include defence, civil engineering, education, health authority and other such civil
contracts.
EXAMPLES of tax havens
The U.S. National Bureau of Economic Research has suggested that roughly 15% of countries in the
world are tax havens, that these countries tend to be small and affluent, and that better

Case Study Of Capgemini IT Services In India
1.4 CAPGEMINI OVERVIEW
Capgemini IT Services – Business Units
Capgemini IT Serives has the following Business Units:
Apps Two Off–shore BU
Provides IT services such as IT architecture, implementation projects, application management,
upgrades, renewals and Software–as–a–Service (SaaS) for European Clients
Business Services, India
Capgemini Business Services (India) Limited provides business process outsourcing services in
finance and accounting in India. The company also offers financial shared services and Sarbanes
Oxley compliance services.
Capgemini Consulting India
Capgemini Consulting India team helps different Capgemini Business Units as well as end clients to
maximize their performance and collaborates with them to help achieve ... Show more content on
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Capgemini has been an Oracle partner since 1996 and achieved its Diamond–level status in 2011.
Capgemini creates and delivers business and technology solutions that fit their client's needs and
drive the results they want. They provide pre–built processes, programs, and integration
methodologies.
Capgemini provides the strategic direction needed for its clients to take advantage of Oracle's
expansive project range, including Oracle Engineered Systems, Oracle Cloud applications, and
Oracle Big Data solutions.
The below was Capgemini's scenario in Oracle services according to Forrester Wave Report.
This analysis was evaluated based on 35 criteria and Accenture was identified to be the largest
provider of Oracle application services worldwide, with nearly 40,000 applications resources. Its
followed by Infosys, IBM and Delloite. Capgemini leads the Strong performers arc segment. The
market presence was evaluated to be moderate alongside

Outsourcing Service From A Supplier
Outsourcing is simply obtaining a product or a service from a supplier. Outsourcing services can
supplement an existing internal source, replace an existing internal source, or consist of a new
product or service a company has never provided before.
In the past, it was commonplace for companies to try to do it all. Manufacturing companies would
design, engineer, and build the end product while providing Information Technology support...
regardless of the complexity of the end product and its components. As time went on, it became
obvious that a company cannot do it all. It became more and more routine for organizations to
outsource complex portions of their work.
Smaller companies found it useful to outsource their payroll processing. This soon grew into the
recognition that if it is better to outsource payroll, why not consider outsourcing the entire HR
function? Industries began to grow to support "vertical" business services such as HR and
accounting. The companies that are chosen to provide the service also accept a part of the risk.
In today's world, the most effective method of doing business is for a company to focus on their core
competencies – what they do best. The role of outsourcing is critical to a project's success. It can
expand the customer base and allow organizations to focus more on relationships. As outsourcing
grows, it becomes more and more important to balance advantages and disadvantages, understand
the risks, and act to mitigate those risks.
A

The Issue Of Offshore Jurisdictions
Introduction
At first glance, the legislation in offshore jurisdictions makes the repatriation of assets seemingly
impossible, providing the impossibility defence for debtors unwilling to relinquish assets owed to
creditors. Offshore jurisdictions may use clever tactics such as duress and flight clauses to make
repatriation of the assets in protection trusts difficult, but onshore jurisdictions are not to be fooled;
the court will either declare the trust a sham, void the transaction, threaten professional negligence
against the attorney or hold the settlor in contempt until compliance. As long as the debtor is
physically residing in the onshore jurisdiction and subject to the laws of that nation, the court can
effectively through coercive means attempt to repatriate the assets from the trust.
Sham Trusts
In Snook v London and West Riding Investments Ltd [1967] 2 QB 786, 802, Lord Diplock defined
sham as, 'acts done or documents executed by the parties to the "sham" which are intended by them
to give to third parties or to the court the appearance of creating between the parties legal rights and
obligations different from the actual legal rights and obligations (if any) which the parties intend to
create. But one thing, I think, is clear in legal principle, morality and the authorities ... that for acts
or documents to be a "sham" with whatever legal consequences follow from this, all the parties
thereto must have a common intention that the acts or documents are not

Money Laundering
MONEY LAUNDERING IN THE BANKING SECTOR
TABLE OF CONTENS 1. | MONEY LAUNDERING – the concept An organized crime Why it is
done?? | 2. | Stages and Process Of Money Laundering | 3. | Vulnerability of the Financial System to
Money Laundering | 4. | Banking Sector: Medium, Regulator And Cause | 5. | Private Banking And
Money Laundering: | 6. | What Banks Should Do? | 7. | Indian Law For Prevention Of Money
Laundering | 8. | Law Enforcement Authorities | 9. | Tax Havens And Money Laundering | 10. | Case
Studies | 11. | Conclusion | 12. | References ... Show more content on Helpwriting.net ...
Another definition is "The conversion or transfer of property, knowing that such property is derived
from serious crime, for the purpose of concealing or disguising the illicit origin of the property or of
assisting any person who is involved in committing such an offence or offences to evade the legal
consequences of his action, and the concealment or disguise of the true nature, source, location,
disposition, movement, rights with respect to, or ownership of property, knowing that such property
is derived from serious crime". (Article 1 of the 1990 European Communities (EC) Convention on
Laundering, Search, Seizure and Confiscation of the Proceeds from Crime).
The UN defines it as"Money laundering is a process which disguises illegal profits without
compromising the criminals who wish to benefit from the proceeds. It is a dynamic three–stage
process that requires: first, moving the funds from direct association with the crime; second,
disguising the trail to foil pursuit; and third, making the money available to the criminal once again
with the occupational and geographic origins hidden from view". United Nations Global Programme
against Money Laundering.
MONEY LAUNDERING – AN ORGANIZED CRIME:
Money Laundering has a close nexus with organized crime. Money Launderers accumulate
enormous profits through drug trafficking, international frauds, arms dealing etc. Cash transactions
are predominantly

Opening An Offshore Bank Account
10 Things You Should Know Before Opening An Offshore Bank Account
Opening an offshore account is not just for the super rich. There are plenty of legitimate, legal,
honest and good reasons why you should open an offshore bank account yourself. Before you open
your account, read this article about the ten things you should know before opening an offshore
account.
Throughout this article, you will see the acronym "FBAR" used quite a bit. It is a Report of Foreign
Bank and Financial Accounts (FBAR). You will need to file an FBAR when "...a U.S. person has a
financial interest in, or signature authority over, one or more foreign financial accounts with an
aggregate value greater than $10,000 at any time during the reporting period (calendar year). If a
report is required, certain records must also be kept." (IRS 4.26.16.1 (11–06–2015))
1 – Foreign Account Inconsistencies Is A Big Red Flag
When you fill out your tax return and you tick the box that says you have foreign accounts, you are
telling the IRS that you have an FBAR filing obligation.
Amending tax returns to report your worldwide income is fine, but some people choose not to file
their delinquent FBARs. Not filing is probably a bad idea, especially since the government is
coming down hard on tax dodgers at the moment. If you have inconsistencies from one tax return to
another, or between your old FBARs and old tax returns, then it is going to make the IRS very
suspicious.
2 – Go As Far Back Into The Past As Is

Asset Light Strategies Are the Only Way Ahead for...
Topic 6: "Asset light strategies are the only way ahead for international hospitality companies."
In the topic asset light strategies refers to international hospitality companies owning less assets.
Assets are "items of economic value owned by an individual or corporation, especially that which
could be converted to cash" (www.investorwords.com). The various different strategies international
hospitality companies use in order to 'lighten' their assets could be by franchising, management
contracts and offshoring (also known as outsourcing). Each of these strategies will be explained in
depth throughout the essay. The reason why businesses would want to have fewer assets is because
they want to get out of having asset–heavy balance ... Show more content on Helpwriting.net ...
The operator runs the hotel for a fee according to specified terms negotiated with the owner; the
most common of these terms are described below in more detail" (www.hospitalitynet.org).
However by hospitality companies using management contracts to run companies then they can gain
from economies of scale, gain brand recognition and obtain a global reservation system.
Alternatively there are some downfalls to management contracts such as conflict of interest
(Outcome and behaviour control).
"Outsourcing is a business process term for what has literally become known as hiring a consultant,
independent contractor, or freelancer to do a specific task or tasks for an organization in which the
organization either does not have the time or the expertise to do on their own"
(www.internetbasedmoms.com). Outsourcing is commonly said to be the same as offshoring but
with the increase in globalisation the distinction between the two has and will become less overtime.
Outsourcing is commonly used in business segments such as real estate management, human
resources, facilities, accounting, information technology and in this case in the hospitality industry.
In the hospitality industry, more specifically in hotels functions such as "Reservation/ Loyalty
Contact Centres; Distribution; Fulfilment;

A Brief Note On Tax Evasion And Tax
Reporting: Tax Evasion
Tax havens are sometimes called tax shelters, secrecy jurisdictions, international financial centers, or
simply offshores. They are the locations of a growing shadow economy of unregulated global capital
(Global Financial Integrity, 2015). As defined by the Canada Revenue Agency (CRA), tax havens
are jurisdictions with no or very low rates of tax, strict banking secret provisions, lack of
transparency and efficient exchange of information with other countries (Global Financial Integrity,
2015). Tax havens mainly help their users to pass any financial regulations illegal banking
transactions and to launder money earned illegally through drug trafficking or organized crimes and
hide them from criminal laws and ... Show more content on Helpwriting.net ...
The British Virgin Islands has 400000 corporations and requires no financial or personal records to
be kept so this makes it very easy to make larger transfers of money into Tax Havens undetected
(Tax Fairness, 2015). At the same time, laundering criminal proceeds can be easily done through tax
haven by finding a bank in a country that accepts your deposit without asking questions and sends to
whoever you wish to receive it. So is evading taxes–disguise income or assets through that country
and fail to report to your home country's authority (Global Financial Integrity, 2015). For example,
53.3 billion Canadian dollars have been sent to Barbados in 2011; 80 billions dollars estimated
revenue lost to tax avoidance in Canada and 24% of Canadian's foreign investments directed into
Tax Havens (Tax Fairness, 2015). This shows how tax evasion is becoming popular as people try to
find loopholes in the system and hide their assets with the help of lawyers and banks.
One of the largest international bank invasions is the Swiss HSBC case. This case is focused upon
majority of the Swiss account holders with HSBC. The investigation was sparked by an ex–
employee's whistle blowing. Herve Falciani, a former employee at HSBC 's Geneva private bank
leaked a list of thousands of suspected

Multinational Banks and Financial Institutions
People in the modern world keep their funds stored in some type of financial institution, whether it's
a small local bank that only operates in a small town or a large multinational bank that has offices in
every major city around the world and caters to millions of people. With the responsibility of
handling the assets of millions of people banks are sometimes accused for activities that may be
illegal, such as money laundering: the method of concealing illegally acquired money or invasion of
a client's account. Unlike small banks, Multinational banks are the most susceptible to these
accusations. Multinational banks have to abide to the laws of multiple countries and any action they
do could cause controversy, whether it's considered good in the bank's eyes or if it's genuinely bad.
While fiscal government policies that affect revenue collection and expenditure set the limits for
multinational banks, ultimately multinational banks should be held to a higher international set of
regulations. Their actions may be legal in some countries while illegal in others, causing various
problems that could lead to the closure of offices in one country due to an action in another.
Therefore, an international governing body should be created to regulate t multinational banks and
keep from getting in trouble with national governments who have unique restrictions. Over the past
decade the banking system has globalized rapidly in foreign ownership of bank assets. Gyongyi
Loranth, a

The Rites of Passage and Liminality Essay
The Rites of Passage and Liminality
Originally developed by anthropologist Arnold van Gennep in the early 20th century in his book
Rites de Passage, the term liminality refers to the concept in which participants are in the threshold
stage of disorientation and suspension from the previous social norm that they were used to. When
an individual goes through a rite of passage–also coined by van Gennep–he is cut off from his "old
life" and is born again into a new person. However, before he can fully become a new person and
finish his rite of passage, he is suspended in a liminal stage that bridges the old self with the newly
acknowledged self. In other words, he is in a stage of disorientation and amorphous identity. Found
throughout all ... Show more content on Helpwriting.net ...
The night before the rite of passage was to be performed, the male relatives and community would
dance and sing all night in costumes and masks, awakening the boys consecutively to parade them
around in the ritual. Before they were about to be "killed", the mothers would sorrowfully feed their
sons a "Last Supper" as if they were still infants. Shortly thereafter, the boys were marched down to
a clearing known as the "place of dying", and suddenly attacked by the guardian males, who held
each boy down and circumcised him. Upon having their wounds fully healed, they were then
allowed to return unto their village as men.
According to the Islamic culture and society, every Muslim must make a trek to Mecca–the hajj–at
least once in their lifetime to pay tribute to Allah, the God of the Islam religion. The trek is a
mandatory component of being a good Muslim for that is the secular proclamation of being a
faithful follower, as according to the Prophet Muhammed who said that a person will journey to
Mecca a sinful man and return home afterwards as a newborn baby purified. The ritual itself consists
of five steps, each categorized into a day: the purifying ihram in which all men are in unity and
peace, and the desperate run from the hills of Safa to Marwa in remembrance of Hagar; the travel to
Arafah to repent of their sins and collect seventy pebbles as somewhat totems; the return to Mina to

The Dormant Accounts From Wwii
Dormant accounts Dormant accounts from WWII became an issue in the mid 1990's when World
Jewish Congress (WJC) decided to go after Swiss banks for funds they claimed should have been
given back to the survivors or their descendants. According to the WJC, $1.24 billion was paid out
to funds set up by Swiss banks ("Report: Swiss Banks ' Holocaust Fund Paid out 1.24 Billion
Dollars," 2013). So how do the Swiss banks handle regular dormant accounts? From first sight it
seems like it would be easy, unlike holocaust survivors and victims' descendants that have spread
out all over the world after the war. Private accounts are private, and if a customer dies without
leaving beneficiary information or company goes out of business accounts are ... Show more content
on Helpwriting.net ...
The toxic securities came to $38.7 billion CHF (Shotter, 2013). As the economy improved UBS was
required to buy back a portion plus interest.
Secrecy, Tax Evasion, and Money Laundering The degree to which tax evasion and money
laundering have been investigated in recent years, the validity of having such secrecy has been
questioned again. In 2003 the European Union reached an agreement to phase out banking secrecy,
but in fears that the clients will withdraw funds and deposit them in Switzerland, "the three member
nations that have secrecy laws, Belgium, Luxemburg, and Austria, would be permitted to keep those
laws so long as Switzerland does" (Meller & Langley, 2003). The EU countries, banks will be held
to withholding a 15% tax on the earnings of account holders. So what is money laundering? Our trip
to HSBC, Nick Batterton, provided us with a detailed overview and a case scenario to show just
how easily one may launder money. The three core stages of money laundering are the placement,
layering, and integration. You must first enter your illegal funds into the financial system through
deposit, usually through a legitimate looking business. Then you layer or launder, where you make
multiple complex transactions to displace it from the origin deposit. Once complete you re–enter the
funds into ligament purchases such as luxury purchases and financial investments. So why are the
banks in

Accenture Delivery Centers
Accenture Delivery Centers in India
The Accenture Global Delivery Network features robust, rapidly expanding delivery centers in India
that provide a comprehensive range of technology capabilities and Business Process Outsourcing
(BPO) solutions. Accenture's workforce in India accounts for more than 40,000 employees. The
Accenture Delivery Centers in India are uniquely positioned to leverage our industry expertise,
functional capabilities, alliances and technology to produce tangible business results that help our
clients achieve high performance. Part of a global network with more than 50 such centers, our
Delivery Centers in India benefit from direct access to advanced technologies and specialized
capabilities in systems integration, ... Show more content on Helpwriting.net ...
The Accenture Global Delivery Network is the largest, most diversified network in the world, with
an unmatched array of services in systems integration, technology consulting, application
outsourcing, infrastructure outsourcing and BPO. Given that each client represents a distinct set of
needs, delivery experiences and risk requirements, our network enables us to assemble the
capabilities, solutions and services required for a fully tailored response to each business challenge.
Industries served
All major industries, with a specific focus on: Airlines Automotive Chemicals and Natural
Resources Communications Consumer Goods and Services Electronics and High Tech Energy
Financial Services Freight and Logistics Government Health and Life Sciences Industrial
Equipment Media and Entertainment Metals and Mining Public Transportation Retail Telecom
Travel Utilities
Locations
Mumbai Bangalore Hyderabad Chennai Pune Delhi area
Established
2001 2002 2004 2005 2006 2006
3
Business Process Outsourcing: Custom and Standard Services to Spark High Performance
Business Process Outsourcing (BPO) is quickly emerging as a key success factor for high–
performance organizations. Accenture pioneered the BPO market and continues to lead in the

development of innovative new BPO solutions. Accenture works with clients to develop and deliver
business process innovations through outsourcing services that

American Outsourcing Case Analysis
Case Summary
The American Outsourcing Case is a compilation of factual information for the purpose of
provoking debates. The authors present both the pros and cons of outsourcing, and avoid inserting
their personal bias. The case clearly defines outsourcing and then focuses on outlining its existence
in China, Mexico, and India. The evolution and U.S. involvement in the Maquiladoras of Mexico is
described first. The implementation of NAFTA and the creation of Maquiladoras were major
catalysts in the growth of free trade between the U.S. and Mexico. China, in an attempt to attract
foreign investors, created Special Economic Areas, which designated geographic zones that were
enabled to operate under their own laws. With great tax benefits ... Show more content on
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Some companies might be deterred from outsourcing here, since the Mexican government has some
strict regulations. "They require paid vacation premium, eight paid holidays each year, medical care
coverage, employee training, Mexican social security, overtime, premiums, Christmas bonus of 15
days salary, and profit sharing of 10 percent of total profits" (Schniederjans). Mexico is also
notorious for economic volatility and instability. Their dependence on the U.S. economy is
unhealthy, they often experience our negative economic fluctuations to a magnified degree. Lots of
companies prefer to invest their money in countries that offer a little more stable. "Today, Indian
outsourcing is one of the best ways for CIOs to cut application development and maintenance costs,
and deal effectively with the peaks and valleys of software demands." (Yeo). Outsourcing to India is
still focused primarily on highly technological aspects, but is not limited there. They are known for
creative development in the pharmaceutical field, and have recently developed an unsurpassed
medication for adult ADHD. Their superior IT assistance is not limited to companies, they offer
many websites for individuals seeking help with programming. In mid 2007, U.S. outsourcing to
India reached $4.9 billion. Although technologically advanced, they still lag in economic prosperity
and therefore still don't expect the type of compensation that Americans do. "They

Code Of Conduct, Ssts And Other Regulations
1. Introduction
Tax professionals have to adhere to the rules set by the Code of Conduct, SSTS and other
regulations. In order to perform their job appropriately they have to be honest, objective, and remain
conflict free while working with clients. The tax professional assists their client as a guide, but the
ultimate responsibility of accuracy relies on the taxpayer. The taxpayer or tax paying entity uses
their tax preparer for guidance since they are aware of tax rules and regulations. The purpose of the
tax return that is filed yearly for each tax payer or tax paying entity serves the purpose of being a
summary of activity through the year for the government to access what portion of the activity
spending is owed to the government. If the client is wealthy or an extremely large entity, preparing
their tax return can then become an extremely complex job which will require the tax preparer to
refer to the several rules and regulations for proper filing.
2. Tax Ethics and Professionals Standards
The ethical standards to be followed by CPAs in tax practice require them to know about applicable
rules of the AICPA, IRS, and other statutory and regulatory rules. According to aicpa.org, "CPA tax
practitioners are subject to many different standards and ethics rules, including AICPA Code of
Professional Conduct (the AICPA Code), AICPA Statements on Standards for Tax Services (the
Standards), Treasury Circular 230, Regulations Governing Practice Before the Internal Revenue

Gross Domestic Product ( Gdp )
Gross Domestic Product (GDP) is a description of a nation's production levels for a period of time,
as well as a measurement of economic viability. It is calculated by adding the consumption,
investments, governmental outlays, and net exports of a nation in either one year or a quarter. The
different components of GDP are at differing levels in each nation. China and Germany, for
example, have substantial net exports, and Singapore comparatively relies much more on
government outlays to grow its economy. Although the latter uses more governmental outlays than
most nations, all nations to some degree make attempts to alleviate economic downturns, as well as
to maximize upward movement. Though there must be concern for issues such as the notorious
crowding out effect, government activity is often the catalyst to dramatic changes in the economy.
The previous example of China as an exporter is true, however it must be noted that it too relies
heavily on government expenditures to create a stable economy that has the financial infrastructure
to grow. As a matter of fact, all the Economic Tiger nations had to use government planning to
change their course from being impoverished nations, to being financial hubs with much room for
opportunity in the work force. Japan alone, would not have become the first industrialized nation
without its use of public loans and active national bank. Since understanding a government's ability
to spend is important for an economy, it is critical to

Effects Of Black Money On Indian Economy
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction
The intent of writing the following literature review is to highlight the knowledge of origin of black
money, the consequences of black money on Indian economy. In addition this section will anchor on
how the economy is going to change if black money from around the globe is brought back to its
country. This review will be done by studying and scanning of existing resources on Indian
economy. It will also determine the policies made to stop generating black money in the first place.
2.2 Critical Review
2.2.1 origin black money
There are many sources of generation of black money and some of them are legal means and the
others are illegal means. Practices such as weapon trading, terrorism, selling of counterfeit or stolen
goods are some of the main illegal means. Where corruption is concerned, black money is earned
through giving and taking of bribes by public officers.. Apart from this, the politicians and political
parties take bribes from foreign companies and invest it in tax havens to transfer it to india when
needed. It is also generated through evasion of taxes by hiding the income from public authorities.
Commercial sector also generates a huge sum of black money by creating an imbalance between
exports and imports by under–invoicing exports and over–invoicing imports from countries like
Singapore, UAE, and Hong Kong etc. The figure bellow shows manipulations of accounts for tax
evasion.

Essay about Stakeholders of the Offshore Wind Company
Stakeholders of the Offshore Wind Company A business's stakeholders are the people who are
affected by the actions of the business. In this case, the Offshore Wind Company (ltd). In this piece,
I am looking to investigate the importance of shareholders, their interests, environmental thoughts,
and their adverse to success. Stakeholders are very important in today's modern society, as they can
hold the key to the company's success. They take care of the financial issues, and decisions made by
and for the company. The six main stakeholders are Financiers, Pressure groups, Suppliers,
Employees, Owners, and, of course, the Local Community. Stakeholders can range from central ...
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A typical example would be environmental pressure groups, protesting against wind turbines on the
coast. This could be because the seabed would be disturbed and damaged, and the local fishing
would be disrupted. Suppliers like to be consulted beforehand also, as this gives them time to
prepare the produce so as its ready for the Offshore Wind Company when they want it. If it weren't
ready when the Company need it, they might look somewhere else for supplies, so the suppliers
wouldn't get their income capital. Local community could be against the wind turbines ruining the
countryside and view. This is why stakeholders like to be consulted before any big decisions are
made. Success is also another big issue for shareholders. For those such as owners, shareholders,
employees, suppliers and financiers it is incredibly important because if the Offshore Wind
Company doesn't succeed, they don't get paid. The employees would probably loose their jobs, the
owners business would fold, along with the shareholders loosing all their money, the suppliers
wouldn't get paid back, and nor would the financiers. It's a bit different in the case if Local
community and pressure groups though, because it goes a bit both ways.

What is Offshore Banking Essay
Offshore banking is the action of having a bank account outside of the country of residence.
Typically it offers many advantages like greater privacy, low or no taxation, easy access to deposits
and protection against local, political, or financial instability, but has also been popular for its use of
illegal practices like money laundering and tax evasion. Those against offshore banking view its
illegal reputation and predict that it will only cause further damage like providing fund for terrorism
or holding underground economies. However other experts believe that offshore banking is a safe
haven for depositors and has had a substantial impact on the international economy in today's world.
Though perfectly legal, since the late 1990's ... Show more content on Helpwriting.net ...
It is for this reason why those who oppose offshore banking wish to regulate its use.
Historically, the U.S. has done little to regulate and enforce laws on offshore accounts. As
highlighted by the UBS and Credit Suisse cases between 2009 and 2011, the U.S. government has
recently begun regulating offshore bank accounts on a heavier basis. This creates a myriad of legal
issues for lawyers dealing with large banks, as they need to ensure the company complies with U.S.
regulation wherever they are conducting business. A new provision of the Foreign Account Tax
Compliance Act (FATCA) originally passed in 2010 which will take effect in July 2014. This new
provision would require foreign financial institutions to report information about their U.S. account
holders to the Internal Revenue Service (IRS). This includes both U.S. citizens and U.S. green card
holders, no matter where they are living. If you were planning to move to a different country from
the U.S and wish to move all your money with you, the IRS will still hold jurisdiction over your
accounts.
Defenders of offshore banking have criticized these attempts at regulations. Advocates for offshore
banking have proven that there are some legal advantages to offshore banking. The most compelling
advantages to offshore banking would have to be its privacy, flexibility and protection from political
risks.

Foreign Account Tax Compliance Act
Foreign Account Tax Compliance Act (FATCA) the end of the tax heavens and the Banking Secrecy,
International cooperation or coercion?
The offshore tax evasion is a problem that most countries face mainly because there are many
structures that help sophisticated investors to avoid the payment of those taxes. Its been estimated
that the worldwide value of the offshore accounts is somewhere around $11.5 trillion. After the 2008
global financial crisis, the United States was going through one of the most severe recession, the tax
evasion crisis and the growing budget deficit at it highest point , in 2009 President Obama stated
during an interview "I did not run for office to be helping out a bunch of, you know, fat–cat bankers
on Wall ... Show more content on Helpwriting.net ...
The core idea of the Chapter 4 is to make "whithholdable payments" to foreign financial institutions
(FIF's) and non–financial foreign entities (NFFE's) that will be subject to a 30% withholding on all
U.S. source income, making foreign institutions a key element for the U.S. government of the
revenue collection system. The IFI's will be required to report information on financial accounts of
U.S. persons and foreign entities with significant U.S. ownership to the IRS in order to avoid the
30% withhold, among other duties that would be discussed later on.
Professor Bruce W. Bean refers to the implementation of FATCA as; "FATCA is the most
extraordinary extension of Congressional extraterritorial overreach ever enacted". The unilateral
decision made by the U.S. government to impose these huge and costly compliance and reporting
requirements to the FFI's, it was alarming to the international financial community, only not because
FFI's are forced to implement expensive compliance programs in order to avoid the withholding that
was imposed upon them, but also because many jurisdictions rely heavily on their bank secrecy law
as an asset for making business and creating revenue in their own countries.
This dissertation main focus is to discuss the extent on which the application of FATCA should be
consider as international cooperation to prevent the misuse of the

Case Study-"Confidential Accounts at Swiss Bank Corporation"
Ethical principles are essential for the proper and fair conduct of business around the world. In
principal, ethical principles can and should dominate any and all decision making, regardless if it
occurs during a business transaction. Without ethics, it would be impossible to conduct business and
establish the trust necessary between consumers and business entities.
Of the many ethical principles that exist, several exist that relate to business ethics. Egoism is
defined as the ethical belief that self–interest is the just and proper motive for all human conduct
(www.dictionary.com). Egoism is essential in the banking industry because an individual in their
right mind will not use nor trust a bank if the bank is going to lose or misuse ... Show more content
on Helpwriting.net ...
Before now, Adler has always, without a doubt, been able to ensure his clients that their personal
financial information would always remain secret; thus, his first dilemma. In good conscious, Adler
can no longer promise his clients the hallmark Swiss bank secrecy that he once could, a problematic
development. Secondly, Adler faces the prospect of being forced, even unwillingly, to report ALL of
his clients ' information if any of them should ever come under investigation. Additionally, it is
possible that some of Adler 's most loyal, long–time clients, may be engaging in criminal activity.
Without a doubt, Adler faces several difficult decisions. From an egoist perspective, Adler faces
personal financial losses and the reduced customer base. Since egoism is defined by an individuals
self interest, revealing the new Swiss banking laws to Alan Adler 's clients may negatively affect
him, which complicates his ability to share the change in banking law. On the clients ' end, if Alan
does not tell them about the changes, all of their supposed "secret" bank accounts could come under
the scrutiny of a national or international banking operation. Additionally, the selling point of a
"secret" bank account, with the change in Swiss law, is now null. Perhaps that change will motivate
some long

The Rites Of Passage By Arnold Van Gennep
Van Gennep and Turner has introduced to all of us a different perspective in looking at and
analyzing not only pilgrimage, but also how people understand and form ideas surrounding the
change in states and statuses, and give meanings to the different parts of the journey. Through this
transition, we will find that many of the societal roles of those who take on the journey are
suspended. Particularly, Van Gennep discusses the 3 rites of passage using territorial passages to
explain how the journey from one sphere or domain to another is joined by various formalities. The
3 rites of passage are pre–liminal (rites of separation), liminal (rites of transition), and postliminal
(rites of incorporation). Turner furthers Gennep ideas ... Show more content on Helpwriting.net ...
Other examples is how most of them had some sort of weapons for protection and a suitcase or bag
to carry their belongings that they may need for their journey or new destination, such as Doc Boone
who brought his medical bag with him. I also thought that when the gambler Hatfield brought along
his deck of cards for the journey really illustrated a characteristic of rites of separation. Knowing
that Hartfield is a gambler, I'm sure that his deck of cards brought him familiarity and comfort.
Following the rites of separation is the rites of transition, also known as liminal. This stage of the
journey is when the individual will experience a wide range of emotion and transitions. Their
consciousness is further heightened, while their societal roles may be suspended. Turner states that
"during the intervening liminal phase, the state of the ritual subject (the "passenger" or "liminar")
becomes ambiguous, he passes through a realm or dimensions that has few or none of the attributes
of the past or coming state, he is betwixt and between all familiar lines of classification" (turner 2).
In other words, the liminal phase is the between state where the individual (the traveler) is in a state
where they are not fully or properly either of two things. They have just left their current state and
has yet entered or joined the next one. This phase is ambiguous because the individual social
position is often not clear or the same as it was before. The social hierarchies

Public Relation Dilemm Imran Khan And Panama Leaks Issue
REPORT ON PUBLIC RELATION DILEMMA IMRAN KHAN AND PANAMA LEAKS ISSUE
PUBLIC RELATIONS (COURSE) SUBMITTED TO: MA'AM FAIZA NASIR MA'AM FAIZA
ABDULLAH (COURSE INSTRUCTOR) SUBMITTED BY: RAJA KUMAR REG NO: 23985
MBA–WEEKEND DATE: 29TH JUNE 2016 INTRODUCTION: The Panama Papers is one of the
biggest leaks and largest collaborative investigations in journalism history. It reveals the secretive
offshore companies used to hide wealth, evade taxes and commit fraud by the world 's dictators,
business tycoons and criminals. Panama Papers are documents obtained from a Panama–based
offshore services provider called Mossack Fonseca. The documents were received by the German
newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative
Journalists (ICIJ) with the Organized Crime and Corruption Reporting Project (OCCRP). 0n 3 April
2015, panama paper leaks exposed 11.5m files from the database of the world's fourth biggest
offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the
German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of
Investigative Journalists (ICIJ)

The Deepwater Horizon Oil Spill Essay
The e Deepwater Horizon oil spill at the Macondo well began on April 20, 2010, in the Gulf of
Mexico on the BP–operated Macondo Prospect. An explosion on the Deepwater Horizon drilling rig
on 20 April 2010 killed 11 people and caused almost 5 million barrels of oil to flow into the Gulf of
Mexico. The spill covered 68,000 square miles of land and sea and triggered a response effort
involving the use of nearly 2 million gallons of dispersant chemicals (Pallardy). Considered the
largest accidental marine oil spill in history, the Deepwater Horizon oil spill (DHOS) resulted in
widespread environmental and economic damage, the exact nature of which is only beginning to be
understood (Shultz 59). This paper will address the causes of this unmitigated ecological disaster
and discuss steps that need to be taken to prevent a similar disaster from occurring again.
There were a number of causes for the Deepwater Horizon oil spill, most of which had more to do
with the human element that with any technology itself. The four biggest ways that humans
contributed to the disaster, as explained by journalist David Coburn, was the fact that British
Petroleum's (BP) past success built a sense of complacency, the shifting the burden of proof, the
normalization of deviance and the fact that promoters for an industry also serve as that industry's
regulatory enforcers. One might ask themselves how being continuously successful can make a
person or agency more likely to suffer a disaster. If they

Government Tackles Tax Evasion
U.S Government Tackles Tax Evasion
Many U.S citizens disagree with the Internal Revenue Code when it comes to the percentage they
must pay out of their earned and unearned income; as a result, many of them might use some type of
strategy in order to report less income to the Internal Revenue Service (IRS) and don't pay that much
in taxes. For example, many taxpayers decide to use tax planning strategies such as timing
strategies, income–shifting strategies and conversion strategies to reduce their before tax income.
All these strategies mentioned before are an example of tax avoidance, which is a legal way to
minimize tax liability. On the other hand, there are also some strategies that fall within the scope of
tax evasion, which is the illegal ... Show more content on Helpwriting.net ...
On April 2016, the WSJ detailed on the article "The "Panama Papers" Scandal" the wrongdoing of a
Panamanian Law Firm, Mossack Fonseca, which specialized on offshores holding companies. These
companies were protecting "their clients by hiding wealth or suspicious transactions in tax havens."
Public figures, executives and celebrities were some of the clients of those companies, reported the
WSJ. This article also reports that "more than 70 Swiss banks confessed to the U.S. that they
encouraged tax evasion, many said ... using Panamanian corporations." In other words, the Panama
Papers bring to light the possibility of tax evasion by many taxpayers who deposit funds illegally
into those companies without a true business purpose. As a result, "the U.S Justice Department says
it is reviewing the documents to see if they contain evidence of corruption that could be prosecuted,"
stated the

Foreign Account Tax Compliance Act Essay
Foreign Account Tax Compliance Act (FATCA) the end of the tax heavens and the Banking Secrecy,
International cooperation or coercion?
The offshore tax evasion is a problem that most countries face mainly because there are many
structures that help sophisticated investors to avoid the payment of those taxes. After the 2008
global financial crisis, the United States was going through one of the most severe recession, the tax
evasion crisis and the growing budget deficit was at it highest point, in 2009 President Obama stated
during an interview "I did not run for office to be helping out a bunch of, you know, fat–cat bankers
on Wall Street," making very clear his position about the bailouts and the general about the banking
industry.
It has been estimated the United States losses approximately $345 billion in tax revenue each year as
a result of offshore tax abuse . One of the biggest scandals of offshore tax evasion was the UBS,
Switzerland's largest bank, in 2009. The Obama's Administration came up with new approach in
order to collect more revenue and try to tackle down the excessive offshore tax evasion problems, so
in March of 2010 as a part of the Hiring Incentives to Restore Employment Act ("HIRE Act"),
Foreign Account Tax Compliance (FATCA) was enacted, creating the sections 1471 to 1474 of the
Internal Revenue Code creating a new chapter in the IRS code (Chapter 4).
The core idea of the Chapter 4 is to make "whithholdable payments" to foreign financial

Taxation of British Virgin Islands
Taxation of British Virgin Islands ( BVI)
As one of the largest part reputable tax havens in the Caribbean the BVI has very elevated standards.
BVI tax havens encompass no taxes in place for BVI offshore companies who do no commerce in
the jurisdiction. International business companies will disburse zero taxes on the profits, interests,
dividends and other types of incomes earned exterior of the jurisdiction. For this motive the BVI can
be regarded as a unadulterated offshore tax haven. BVI offshore corporations shell out no corporate
tax, capital gains tax, estate tax, withholding tax and income tax. The merely money that an offshore
company pays in the BVI is an annual fee which is salaried to the significant supervision authorities.
BVI as a tax refuge imposes no taxes on offshore bank account which makes the British Virgin
Islands an ideal jurisdiction to set up offshore bank accounts. Offshore bank accounts advantage
from the tax free surroundings in the British Virgin Islands. The incomes and capital in offshore
bank accounts are not taxed in the BVI.
In the offshore tax haven of the British Virgin Islands an offshore business corporation can be
incorporated using just one shareholder and director. The director can be another BVI corporation.
The financial statements and audits of the British Virgin Islands offshore corporation are private.
These financial statements of these companies are not to be filed with the government authorities in
the British Virgin Islands.

Essay on Offshore Outsourcing
Offshore Outsourcing
Currently, it has been reported that many of our jobs, as much as one out of every three private–
sector jobs are being sent overseas.
What is offshore outsourcing?
Outsourcing occurs when a firm subcontracts a business function to an outside supplier. Outsourcing
is mainly the result of companies who will always pursue the lowest–cost structure, which means
less skilled work will move out of the U.S. to emerging economies.
Many believes that this is a good thing, because living standards around the world will rise, and
workers in developing nations will get new and higher–paying jobs, and consumers in the U.S. will
be able to buy products that are cheaper than if they were made at home. ... Show more content on
Helpwriting.net ...
This positive change in our economy now has many economists believing that the same process is
going on in services.
Why offshore outsourcing?
Many businesses have turns to offshoring as a way to boost their profits. The most obvious benefits
of offshoring for the businesses and English–speaking destination countries are the lower wages in
foreign countries such as India, China, Korea, Philippines, etc... which translates into significant
savings and often, improved quality.
Offshoring doesn't just benefit businesses alone, a recent McKinsey Global Institute study notes that
offshore outsourcing will allow America to capture economic value through multiple channels:
Cost savings: For every dollar of spending on business services that moves offshore, U.S.
companies save 58 cents. The savings from reduced costs means more savings, which can be passed
to consumers or to investors to reinvest.
New revenues: Companies that provide offshore services need goods and services themselves,
ranging from computer and telecommunications equipment to legal, financial and marketing
expertise. And often they buy these from the U.S. companies.

Repatriated earnings: Many offshore service providers are in fact U.S. companies that repatriate
earnings.

Advantages And Disadvantages Of Tax Havens
The central argument of this paper is that tax havens are not only mediums for tax avoidance and
evasion but belong more broadly to the world of finance. Viewed individually, tax havens may
appear small and insignificant; combined, they play a central role in the world economy, where
liberalization and deregulation of the financial sphere has caused an exponential growth of tax
havens in the last 40 years. I would define tax havens as jurisdictions that have sufficient autonomy
– and most importantly a deliberate interest – to write their own tax, finance, and other laws and
regulations. Their purpose is to ease transactions undertaken by nonresidents who have the intention
to avoid taxations and other regulations in their home country by providing a legally backed veil of
secrecy to make it hard to determine the true owners. Tax havens do so with the active support of ...
Show more content on Helpwriting.net ...
Apart from a low corporate tax rate – which on it's own does not imply the label "tax haven" –
country has to be well–governed, which includes an efficient and respected government, political
stability, rule of law, and the control of corruption. Small islands with a population below 1 million
are also highly favorable jurisdictions because they often lack natural resources and hence depend
on foreign investors. MNEs such as Google, Apple, Amazon and Starbucks have long ago
discovered the advantages of such small island economies. Yet, this paper also shows that tax haven
do not have to be located in some remote islands with sandy beaches – but they can also be in any
respectable country of the European Union. Many successful MNEs, for example, use financial
regulatory loopholes in Ireland, Luxembourg or the Netherlands to avoid paying their fair share of

The Security Measure Can Be Deployed For Enhancing Cyber...
Despite the concern of privacy, security is also a major interest of big data application. First of all,
big data application need to be secured extensively to prevent cyber attack. In addition, Big Data
itself can be deployed for enhancing cyber security. Nowadays almost everyone has one or more
portable devices, such as smart phones, tablets. Studies show that "80% of connected devices are at
risk". Our portable devices may store our sensitive information such as credit card number, banking
info. Latest devices may even store our health and biological data, such as apple's health app. Even a
trivial leak may cost us significant financial loss and insurance claim. Is the current security measure
function well enough? According to the ... Show more content on Helpwriting.net ...
When major business, industry, government agencies are adopting Big Data to their daily operation,
increasing security measures need to be implemented to avoid data breach and loss. Big Data
breaches will likely to cause more damage than other cyber breaches, with the potential for more
serious reputational destruction and legal repercussion than at present. User information and
financial loss will not only cause more insurance claims, but the loss of business losing customers.
One approach to implement security module for big data application is classification of data
ownership. For instance, university contracts Google for cloud storage service. Google as a service
provider store the raw data in one of their data centers. On the other side, university is responsible
for generating the output of the raw data, such as everything we see on registrar system. In an event
of data breach, hacker can only steal raw encrypted data from Google's server, but cannot convert
them to any valuable information at all. What's more, Big Data technology itself can be deployed for
implementing security module. Security information and event management (SIEM) is one of the
big data application in security. SIEM is an approach to "provide a holistic view of an organization's
information technology security". SIEM collects logs and other security–related documentation for
real time analysis to allow the system to detect anomalous events quickly. Anther

Offshore Outsourcing: Good or Evil? Essay
Economic experts have noticed a trend in certain industries in recent years – there is an increasing
number of businesses hiring workers in foreign lands, especially India and other Asian nations, to
perform work that has traditionally been done by Americans. This trend had been particularly
noticeable in the field of information technology, where most analysts believe salaries have been
negatively impacted by this practice, known as "offshoring" ("Offshoring Eats"). Since information
technology lies at the heart of business in the modern world and plays an integral part in most
scientific research and technological innovation, any development that affects information
technology as deeply as the growing offshoring
movement ... Show more content on Helpwriting.net ...
The controversy is intensifying with the actions of local and state governments and the rhetoric of
this year's presidential candidates. In November, the State of Indiana revoked a four– year contract it
had made with a large Indian software company. The contract had been negotiated by the former
Governor of Indiana with the purpose of upgrading some of the state's computer systems. Many
professionals in India believe that the contract's cancellation was for purely political motives ("India
Alarmed"). Legislators in New Jersey have proposed a law to restrict the employment of foreign
workers by businesses that work for the state (Clancy).
During his campaign speeches John Edwards, a presidential candidate and senator from North
Carolina, relates the story of a father whose job was "moved overseas" (Trigaux). Former
presidential candidate Howard
Dean recently entered the debate by voicing his opposition to "big corporations who... move their
headquarters to Bermuda and their jobs offshore." John Kerry, a leader for the Democratic
nomination and senator from Massachusetts, proposed legislation in November obligating foreign
call center representatives to reveal their location whenever a customer or potential customer calls
("Firms Defend Moving"). Clearly, the

A Report On The Panamanian Law Firm
The Panamanian law firm has long been a well recognition across the global elite society, and the
Mossack Fonseca is not also confined in its households, a huge team of hundreds of journalists . Are
poring over the documents in International Consortium of Investigative Journalists and disclosed a
massive 2.6–terabyte leak of confidential papers that they are calling the Panama Papers
(Aljazeera.com, 2016).
The firm drives its operations diversely and internationally in scope, but they are famous for their
specific specialty– by helping foreigners obscuring the real identities of the owners to set up
Panamanian shell companies to establish their financial assets. It was established in 1977 and since
its establishment it has expanded its interests outside of Panama to include more than 40 offices
worldwide, by helping a global client to make a basement for working with shell companies in
Panama, Bahamas and the Virgin Islands of British, and other notorious tax havens islands in the
world (Aljazeera.com, 2016).
The papers bring out details about Russian shocking acts of corruption, hint of massive corruptions
in a range of developing nations at scandalous goings–on, and lead to a prompt of political crisis in
Iceland. They willingly allowed the wealthiest persons of Western society to hide their huge amount
of wealth from government taxation and in some cases divorce or bankruptcy settlements (BBC
News, 2016).
And they also over look the international law of money

Black Money in India
Swiss bank revealed India has more money than rest of the world
This is so shocking.. ..If black money deposits was an Olympics event..
India would have won a gold medal hands down. The second best Russia has
4 times lesser deposit. U.S. is not even there in the counting in top five! India has more money in
Swiss banks than all the other countries combined!
Recently, due to international pressure, the Swiss government agreed to disclose the names of the
account holders only if the respective governments formally asked for it.. Indian government is not
asking for the details... ..no marks for guessing why?
We need to start a movement to pressurize the government to do so! This is perhaps the only way,
and a golden ... Show more content on Helpwriting.net ...
However, one may well be aware of 'Swiss bank accounts, ' the shorthand for murky dealings,
secrecy and of course pilferage from developing countries into rich developed ones.
In fact, some finance experts and economists believe tax havens to be a conspiracy of the western
world against the poor countries. By allowing the proliferation of tax havens in the twentieth
century, the western world explicitly encourages the movement of scarce capital from the
developing countries to the rich. In March
2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion
of personal wealth was held offshore by rich individuals across the globe.
The findings estimated that a large proportion of this wealth was managed from some 70 tax havens.
Further, augmenting these studies of
TJN, Raymond Baker – in his widely celebrated book titled 'Capitalism ' s Achilles Heel: Dirty
Money and How to Renew the
Free Market System ' – estimates that at least $5 trillion have been shifted out of poorer countries to
the West since the mid–1970.
It is further estimated by experts that one per cent of the world 's population holds more than 57 per
cent of total global wealth, routing it invariably through these tax havens.
How much of this is from India is anybody 's guess ...???? if India

Allen Stanford 's Ponzi Scheme
Allen Stanford's Ponzi scheme is considered to be one of the top grossing Ponzi schemes that have
been at the forefront of white collar crime. As stated on the U.S. Securities and Exchange
Commission website, "a Ponzi scheme is an investment fraud that involves the payment of
purported returns to earlier investors by the contribution of new investors that promises to generate
high returns with little or no risk" (Sec.gov). These schemes take advantage of people who put their
faith in the offender out of trust or any other personal reason and in the case of Allen Stanford it is
no different. Allen Stanford used his status that he had built throughout his life to take advantage of
many people through the use of Certificates of Deposit. His alpha male persona had built an empire
by defrauding individuals out of what has been reported up to $6 billion and some sources have
estimated up to $8 billion. This paper will discuss how Mr. Stanford went from king to prison in a
20 year span. Allen Stanford was born in Mexia, Texas to a lower middle class family. Stanford's
parents eventually divorced and he moved to Fort Worth, Texas. Tim Elfrink of the Broward/Palm
Beach New Times stated that people who knew Allen Stanford at a young age said that he was
always out to make a quick buck and he was well known for this. Some of his first ventures into
making money were selling firewood (Elfrink, 2009). Bob Wright, an acquaintance of Stanford's
from back in Mexia, Texas

The Drilling Of Fshore Drilling Industry
The offshore drilling industry can be split into 5 key markets: upgrade market, contract drilling
market, second–hand market, scrap market and contract drilling market. Among them contract
drilling market is most important, because it ensures smooth cash flow between markets. drilling
units is summarised in the table below.
The table above describes cash flow within offshore drilling markets. Contract drilling market leases
drilling units to O&G companies to drill or service wells, in turn they receive day rates. The day rate
is the daily price to lease a rig and includes the use of the rig and its crew but does not include most
of the other costs associated with drilling and completing a well (e.g., casing, drilling fluids,
logistics, well evaluation, etc.). The drilling service industry is the largest and most closely followed
of the five markets and drives the activities of investors in the other markets.
The new build market uses shipyard labour and capital to convert steel and third party equipment
into rigs. Drilling contractors enter into turnkey contracts with shipyards for the construction and
delivery of one or more rigs, or yards may build on speculation. The new build market is primarily
Asian with major shipyards in Singapore, South Korea, and China.
The upgrade market is a ship repair market which both upgrades and maintains rigs. Upgrades
improve and modernize rig technology and represent significant capital expenditures.
In the second–hand market, rigs are

Case Study Of Birlasoft
Birlasoft is a part of the 150 year old, multi–billion dollar CK Birla Group. It was founded in 1995
and is a global IT Services provider. It acquires a total of 4000 employees across the world & has
best–in–class delivery centers in China & India.
The company deploys a collection of innovative solutions and service architectures across the
Financial Services, Insurance and Manufacturing industries and the global Banking .
As economies develop and gain much–needed experience & expertise in managing global sourcing
arrangements, quality of IT solutions & services mature at a rapid pace as well. In a bid to match the
growing needs, service providers are noticing that:
Consulting & outsourcing are emerging as powerful business tools that lend versatility, flexibility
and cost savings
Financial savings, technical abilities, quick deployment and market agility are becoming essential,
driving governments, institutions and organizations towards client–vendor partnerships while
concentrating in–house resources on core business activities
Successfully adapting to changing trends and challenges, Birlasoft is counted amongst the ... Show
more content on Helpwriting.net ...
Birlasoft's recommendation to the client is always based solely on their requirements and objectives,
and ensures the best total cost of ownership. Birlasoft has both marketing and technical alliances.
We jointly develop, sell and deliver business solutions that leverage Birlasoft's industrial, functional
and technical expertise, Birlasoft's global delivery model, and the alliance partner's technology and
services. This is done through training, engagement with the partner's technical support and
development teams and by creating focussed tools and methodologies at Birlasoft's Centers of

The Rowan Company : A Provider Of Offshore Contract...
INTRODUCTION The oil and gas industry is prevalent in the gulf coast economies and Houston,
Texas specifically, with subsets of this industry comprising major sectors of workforce and financial
foundations in the area. The Rowan Company is a major player within the industry both locally and
worldwide. The Rowan Company is a provider of offshore contract drilling services. In 2008, to
combat confusion in intra–organizational communications and thwart overall inefficiencies in
business processes caused by paper documentation and functional silo effect within departments and
global offices, Rowan rolled out SAP as its new enterprise solution. Rowan had multiple
breakdowns within its business processes and SAP was chosen to rectify each problem, simplify the
business process, and adjust to future complications and additions to the process. PROBLEM Before
2008, Rowan had no processes or means of collecting, storing, managing, or integrating master data
which cost the organization time, money, and resources, thereby decreasing profit margins (1). The
corporate hierarchy of Rowan was such that each department and region existed independently of
one another. A significant symptom of the inability of Rowan to create enterprise–wide data
processes was that each department, functional area, or region created differing databases producing
many information silos across the organization. The extreme silo effect amongst the differing
departments, functioning areas, and regions

Wealthbar Appointment Analysis
WealthBar Appoints Howard Atkinson to Advisory Board Vancouver, BC, Aug. XX, 2015–
WealthBar, Canada's only full–service online financial advisor, announced today the appointment of
Howard J. Atkinson to its Board of Advisors. The appointment increases the board to five, including
notable investors John Nicola, Lance Tracey, Paul Geyer and Bernd Petak. "We are pleased and
excited to welcome such a notable figure in the investment industry to our board," said Tea Nicola,
Co–Founder of WealthBar. "Mr. Atkinson is a forefront expert of exchange traded funds in Canada
and will make considerable contributions to the success of Wealthbar and its clients." Atkinson is a
strong consumer advocate with over 25 years of experience in the investment management

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