Analytic pressure-volume diagrams are utilized to illustrate the effects of gasoline engine design on performance and combustion requirements. Topics discussed include design, construction, inspection techniques and servicing of the internal combustion engine and its components. Laboratory activities are performed to provide relevant hands-on experience to the students. Also engine aspiration, combustion using the principles of fluid dynamics and thermodynamics, volumetric efficiency and fuel metering systems will be discussed in this course.
Newspapers have continued to follow this story. In SeptemberU. Treasury Secretary Summers testified before the House Banking Committee on this issue, placing international money laundering directly into the spotlight. The investigation continues and indictments of a former bank official, two other individuals and the three companies have been filed.
As the INCSR goes to press, guilty pleas from two of the individuals and the three companies have been entered. The large movements of money out of Russia and through American banks continue to focus the attention of the world on the problem of money laundering.
Around the globe, there were both positive and negative developments in this field. One of the four major goals of the Strategy is to strengthen international cooperation to disrupt the global flow of illicit money, and there are a number of action items in the Strategy that specifically address international money laundering.
Another major money laundering development in was the issuance of financial advisories concerning Antigua and Barbuda by the United States and the United Kingdom in April.
The issuance of these advisories demonstrated that the United States and other nations will take tough, concrete action against governments that do not seriously address the problem of money laundering and do not adequately supervise financial institutions within their jurisdictions.
For example, the National Money Laundering Strategy has as one of its objectives that the United States should "apply increasing pressure to jurisdictions where lax controls invite money laundering.
There is also multilateral support for stronger measures against non-compliant jurisdictions. The Financial Action Task Force has embarked upon an initiative to consider steps to be taken regarding countries and territories including among FATF members that fail to provide effective international administrative and judicial cooperation in money laundering cases.
The first step in this process was to develop criteria for defining the non-cooperative countries and territories. The second step is to identify the jurisdictions that meet these criteria. The third step will be to agree upon the necessary international action to encourage compliance by the identified non-cooperative jurisdictions.
The FATF is well underway on this initiative. Further, the FATF has already issued a press release expressing its concern about Austria, a FATF member, with respect to its failure to eliminate the anonymous passbook savings accounts that are available in Austria.
Austria must begin to eliminate these accounts or face suspension of its FATF membership in June InFATF agreed to expand its membership and invited three new countries to join as observers. These strategically important countries are Argentina, Brazil and Mexico.
Full membership will be extended to each country once they satisfy FATF membership requirements. Also duringthe Financial Stability Forum was created by the G-7 Finance Ministers to enhance international cooperation and coordination in the area of financial market supervision and surveillance.
The Forum met for the first time in April and agreed to focus initially on three issues: This focus benefits efforts being undertaken in other various international initiatives to combat global money laundering and financial crime. Any investigation of money laundering in the United States that involves the proceeds of a crime committed in a foreign country requires evidence that would establish the commission of the crime in the foreign country.
Consequently, a successful money laundering prosecution in the United States requires the assistance and cooperation of the jurisdiction where the proceeds were generated. Such cooperation, in turn, requires that the countries involved have good working relationships between law enforcement agencies and have laws that allow and facilitate the exchange of information and evidence.
Without such cooperation, it is difficult to investigate and prosecute international movements of money.
Several bills to promote anti-money laundering cooperation have been introduced recently in the United States Congress. Finally, it should be noted that two international crime conventions are also seeking to strengthen the international efforts against money laundering.
This Convention requires States Parties to criminalize the providing or collecting of funds with the intent or knowledge that they are to be used to conduct certain terrorist activity.
The Convention also contains important advances in the area of mutual legal assistance, including a provision that States Parties may not refuse a request for mutual legal assistance on the ground of bank secrecy.
This Convention is expected to contain provisions to criminalize the laundering of proceeds beyond drug proceeds and to enhance anti-money laundering regulations, enforcement and cooperation worldwide.
Over the past year, it is encouraging that while anti-money laundering jurisdictions and organizations have been marshaling their forces, new colleagues have joined their ranks.
Positive developments on this front include major initiatives in Eastern and Southern Africa, South America and the Asia-Pacific region.
Each of these initiatives strengthens the global anti-money laundering community. Why We Must Combat Money Laundering People who commit crimes need to disguise the origin of their criminal money so that they can use it more easily. This fact is the basis for all money laundering, whether that of the drug trafficker, organized criminal, terrorist, arms trafficker, blackmailer, or credit card swindler.
Money laundering generally involves a series of multiple transactions used to disguise the source of financial assets so that those assets may be used without compromising the criminals who are seeking to use the funds.
Through money laundering, the criminal tries to transform the monetary proceeds derived from illicit activities into funds with an apparently legal source. Money laundering has devastating social consequences and is a threat to national security because it provides the fuel for drug dealers, terrorists, illegal arms dealers, corrupt public officials and other criminals to operate and expand their criminal enterprises.
In doing so, criminals manipulate financial systems in the United States and abroad.economic heft allows him to browbeat trade partners into the funding was led by venture-capital firm Cleveland.
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