Money launderingMoney laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In United States law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money.
HSBCHSBC Holdings plc (in full: Hong Kong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with unique historical and business links to East Asia and a highly multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US2.953trillionasofDecember2021.In2021,HSBChad10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA). Drug cartelA drug cartel is a criminal organization composed of independent drug lords who collude with each other in order to improve their profits and dominate the illegal drug trade. Drug cartels form with the purpose of controlling the supply of the illegal drug trade and maintaining prices at a high level. The formations of drug cartels are common in Latin American countries. Rivalries between multiple drug cartels cause them to wage turf wars against each other.
Illegal drug tradeThe illegal drug trade or drug trafficking is a global black market dedicated to the cultivation, manufacture, distribution and sale of prohibited drugs. Most jurisdictions prohibit trade, except under license, of many types of drugs through the use of drug prohibition laws. The think tank Global Financial Integrity's Transnational Crime and the Developing World report estimates the size of the global illicit drug market between US426andUS652 billion in 2014 alone. Financial regulationFinancial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law.
Medellín CartelThe Medellín Cartel (Cártel de Medellín) was a powerful and highly organized Colombian drug cartel and terrorist organization originating in the city of Medellín, Colombia that was founded and led by Pablo Escobar. It is often considered to be the first major "drug cartel" and was referred to as such; (a cartel) due to the organization's upper echelons and overall power-structure being built on a partnership between multiple Colombian traffickers operating alongside Escobar.
Sinaloa CartelThe Sinaloa Cartel (Cártel de Sinaloa), also known as the CDS, the Guzmán-Zambada Organization, the Pacific Cartel, the Federation and the Blood Alliance, is a large, international organized crime syndicate that specializes in illegal drug trafficking and money laundering. It was established in Mexico during the late 1980s as one of a various number of subordinate "plazas" operating under a predecessor organization known as the Guadalajara Cartel.
Global financial systemThe global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic action that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets.
Financial systemA financial system is a system that allows the exchange of funds between financial market participants such as lenders, investors, and borrowers. Financial systems operate at national and global levels. Financial institutions consist of complex, closely related services, markets, and institutions intended to provide an efficient and regular linkage between investors and borrowers.
Financial marketA financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities. The term "market" is sometimes used for what are more strictly exchanges, organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange.
Organized crimeOrganized crime (or organised crime) is a category of transnational, national, or local groupings of highly centralized enterprises run by criminals to engage in illegal activity, most commonly for profit. While organized crime is generally thought of as a form of illegal business, some criminal organizations, such as terrorist groups, rebel forces, and separatists, are politically motivated. Many criminal organizations rely on fear or terror to achieve their goals or aims as well as to maintain control within the organization and may adopt tactics commonly used by authoritarian regimes to maintain power.
Financial crimeFinancial crime is crime committed against property, involving the unlawful conversion of the ownership of property (belonging to one person) to one's own personal use and benefit. Financial crimes may involve fraud (cheque fraud, credit card fraud, mortgage fraud, medical fraud, corporate fraud, securities fraud (including insider trading), bank fraud, insurance fraud, market manipulation, payment (point of sale) fraud, health care fraud); theft; scams or confidence tricks; tax evasion; bribery; sedition; embezzlement; identity theft; money laundering; and forgery and counterfeiting, including the production of counterfeit money and consumer goods.
Financial servicesFinancial services are economic services provided by the finance industry, which together encompass a broad range of service sector firms that provide financial management, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises.
Financial Action Task ForceThe Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. In 2001, its mandate was expanded to include terrorism financing. The objectives of FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
GlobalizationGlobalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term globalization first appeared in the early 20th century (supplanting an earlier French term mondialization), developed its current meaning some time in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the post-Cold War world.
Financial centreA financial centre (financial center in American English) or financial hub is a location with a concentration of participants in banking, asset management, insurance or financial markets with venues and supporting services for these activities to take place. Participants can include financial intermediaries (such as banks and brokers), institutional investors (such as investment managers, pension funds, insurers, and hedge funds), and issuers (such as companies and governments).
Human impact on the environmentHuman impact on the environment (or anthropogenic environmental impact) refers to changes to biophysical environments and to ecosystems, biodiversity, and natural resources caused directly or indirectly by humans. Modifying the environment to fit the needs of society (as in the built environment) is causing severe effects including global warming, environmental degradation (such as ocean acidification), mass extinction and biodiversity loss, ecological crisis, and ecological collapse.
CrimeIn ordinary language, a crime is an unlawful act punishable by a state or other authority. The term crime does not, in modern criminal law, have any simple and universally accepted definition, though statutory definitions have been provided for certain purposes. The most popular view is that crime is a created by law; in other words, something is a crime if declared as such by the relevant and applicable law. One proposed definition is that a crime or offence (or criminal offence) is an act harmful not only to some individual but also to a community, society, or the state ("a public wrong").
Criticisms of globalizationCriticism of globalization is skepticism of the claimed benefits of globalization. Many of these views are held by the anti-globalization movement. Globalization has created much global and internal unrest in many countries. While the dynamics of capitalism is changing and each country is unique in its political makeup, globalization is a set-in-stone "program" that is difficult to implement without political unrest. Globalization can be partly responsible for the current global economic crisis.
MexicoMexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Mexico covers 1,972,550 km2 (761,610 sq mi), making it the world's 13th-largest country by area; with a population of over 126 million, it is the 10th-most-populous country and has the most Spanish speakers.
