A Memorable Event And Learnt Lesson Essay Example | Topics and Well Written Essays - 1000 words

A Memorable Event And Learnt Lesson - Essay Example I remember vividly on that cold chilly morning on my way to take a bus to school, when I encountered a situation that has since taught me courage. This is the day I met with my worst fears face to face, but because of courage, I overcame my worst fear in life. My heart was pounding against my chest as I dropped the bag in my hand, which had my books, and raised both my arms. Deep inside, I was afraid, but with a little courage, I charged at my fears. Pit bulls! I was yelling at two pit bulls, which were charging a small boy that was ahead of me on the same lane. The small boy had run and was now helpless. He lay down in anguish, waiting to be mauled by the two animals. However, since I was behind the small boy and saw his helplessness, I did not want to experience the sight of a small helpless boy being mauled mercilessly right in front of me by two pit bulls.I continued to yell frantically at the pit bulls and ran toward the small boy. Even though I ran toward the boy, I had no idea of how I was going to save him. With my bag on the road and books scattered, I ran after the pit bulls toward direction of the boy, while continuing to yell at the pit bulls. Surprisingly, the pit bulls were distracted by my yelling, stopped running after the small boy, and drifted their attention to me. This was the defining moment. I would choose to either run away or face the pit bulls to allow the small boy to escape. I shouted at the small boy to rise up and run as far as he could. When I saw the small boy running away and the pit bulls coming after me, I felt a sense of relief, even though I was supposed to be afraid that the pit bulls would maul me. I tried running away and waving at a passing car to save me, but alas, the pit bulls were right there by my side. One pit bull jumped on me, while the other started to bite my legs. I closed my eyes and screamt in pain and anguish. Luckily, a car pulled over. I was highly relieved to learn that it was the owner of the dogs, as the dogs immediately rushed to the car when the person inside it stepped out. The owner, who was searching for his pit bulls was highly apologetic and helped me with first aid on the bites before driving me to the hospital. Although the pain on my body from the claws and bites of the pit bulls was excruciating, I afforded to smile when I remembered that I did it for a small helpless boy. After leaving the hospital on the same day, I went home and received a hero’

Human resources - performance management Research Proposal

Human resources - performance management - Research Proposal Example This paper tries to explore if it is possible to implement the system effectively at the workplace. The main generations which would be considered in this context are the Baby Boomers, Generation X and Generation Y. The generation born between 1943 and 1960 are referred to as Baby Boomers, while those born between 1961 and 1980 are better known as Generation X while people born after 1980 are called Generation Y. The motivation behind this project to highlight on the importance of different performance management practices for the different generations. Critical Literature Today multiple generations are found to be employed at the place of work. However, in a manufacturing oriented economy, they are found to be distinguished from one another through organizational stratification and structural scenery of that economy. The older or senior employees are found to be working in the head offices holding the commanding positions, while the middle aged employees are found to be holding positions requiring high skills mainly belonging to the management cadre. The youngest, greenest who are considered to be most strong physically are found to hold the factory floors and accounted for the sales representatives, junior accountants, assistant managers etc. One of the major outcomes of this accidental blending of different generations is creativity. People belonging to different generations are likely to bring up different thoughts and yield new ideas for solving problems and creating future opportunities. (Zemke & Raines & Filipczak, 1999, p.10). The study would r eflect the some of the fundamental differences between the different generations in terms of their work habits, work ethics and career views and values. According to a research conducted by Raines (2007), the rich combination of different generations in organizations has called for changes in the recruitment and performance management strategies by employers. The results show that competition for talents have been escalating as there are more generations who have been working side by side. It is seen that the oldest members belonging to the generation of Baby boomers have been coming close to their age of retirement. However, this is also true that their performance and productivity is not the same as the Gen X and Gen Y. That is why they different performance evaluation practices. However, the ageing generation is also required in the organizations as they are rich talents and their knowledge is of high worth in the organizations (Raines, 2007, p.1). Recently a survey conducted by Next Step, which was led by Jenifer Vessels (1998), on four different generations in organizations aged between 20 years and 60 years belonging to both government agencies and private companies. The results showed that 72.3% of the respondents had been

Comparasion Wks Essay Example for Free

Comparasion Wks Essay Indiana Common Core Standards: †¢Analyze the representation of a subject or a key scene in two different artistic mediums, including what is emphasized or absent in each treatment. †¢Analyze various accounts of a subject told in different mediums, determining which details are emphasized in each account. †¢Cite strong and thorough textual evidence to support analysis of what the text says explicitly as well as inferences drawn from the text. †¢Determine a central idea of a text and analyze its development over the course of the text, including how it emerges and is shaped and refined by specific details; provide an objective summary of the text. Part One Directions: Use the following criteria to compare the film Simon Birch to the short story The Scarlet Ibis. Simon BirchScarlet IbisSimilarities/Differences Characters †¢Main characters †¢Protagonist/Antagonist †¢Round/Flat †¢Static/Dynamic †¢Evidence—use a quote from the text AND a line from the story to back up your answerSimon and joe Doodle and his big brotherThey erre both narrated by the second character Plot †¢Setting impact on plot (if any) †¢Events †¢Evidence Motivations †¢Characters †¢Same/different? †¢Evidence Tries to say that he is gods instrument Point of view †¢First or third person? †¢Limited or omniscient? †¢Evidence First person First personThey were both in first person and the narrator wasn’t the main character it was the second character Symbols †¢Symbols in story †¢Symbols in movie †¢Symbols that are similar in both †¢Anything left out? †¢EvidenceHis baseball cards and the armadillo The scarlet ibisThey both mean something to the main characters Theme †¢Theme of the movie †¢Theme of the story †¢Similarities in theme? †¢Differences in theme? †¢Evidence Setting †¢Setting of the story †¢Setting of the movie †¢Similarities in setting? †¢Differences in setting? †¢EvidenceI think that is takes place in the 1950’s? Because of the cars that was in the movie I dont know They both take place in the past Irony †¢Irony and type present in story †¢Irony and type present in movie †¢Similarities †¢Differences †¢EvidenceHe loved to play baseball and he loved joes mom but he killed her with a baseball that he hit into foul territory Situational irony Dramatic irony because when the scarlet ibis died we new that doodle was soon going to die Both of the main characters die

A peaceful woman explains why she carries a gun Essay Example for Free

A peaceful woman explains why she carries a gun Essay Hasselstrom was Justified for her need to own a gun as she wanted to be rotected, safe and have a peace of mind. Desire to be protected Justified Hasselstrom to get a gun; however, she considered other means of protection first. To begin with, Hasselstrom used improvised means for protection. For example, she had her own gun (spray cans of deodorant) which did not have to be registered. However, one night while camping, the author and her friend, harassed by two young men, decided not to tempt fate and use their improvised mace, but simply leave the camping area. When improvised means of protection did not work, Hasselstrom onsidered another option- a citizens band radio, a system of short-distance radio communications between individuals which does not require a license. However, she rejected this method of protection providing an example of a woman who got beaten and raped using a CB radio to get help with a flat tire. The last method Hasselstrom considered as a mean of protection was self-defense. For her, kung fu class was a smart decision because on the top of her self-preservation, her height and weight did not give her any benefit. Therefore, looking for protection, Hasselstrom provided the eaders with Justified steps she took prior to the extreme measure of protection- a Also, the author was well-grounded for her need of a gun because she gun. wanted safety. Firstly, she did not feel safe on her land. While Hasselstrom lived on a ranch in secluded area 25 miles from the nearest town, she, somehow, managed to have uninvited guests on her property. For example, one day she noticed an armed man on her land who wanted to shoot ducks. As a result, she could not feel safe even on her territory. Secondly, as the author was vulnerable even while driving her car, her possession of a gun was reasonable. Hasselstrom provides the readers with examples to prove her right. In one of the examples, an unknown car was following her on her way home, and made her stop by flashing a blinding spotlight in her face. Another example depicts a man who was playing cat-and-mouse with Hasselstrom within 30 miles when she was driving in a desolate part of Wyoming. Thirdly, the fact that Hasselstrom did not feel safe even in public places Justified her to own a gun. She provided an example of her and her friend being harassed and scared by men while camping in the West. Moreover, looking for some help from the local rangers, he had to face with their carelessness and unwillingness to protect and help. In addition to Hasselstroms desire of protection and safety, there is a desire of peace she was looking for which Justified her to possess a weapon. First of all, she could not get a peace ot mind being harassed on a daily basis. Whether sne was among people or on her property, she faced acts of harassment or danger which took her further away from a peace she was searching for. Then, she could not find a peace of mind if she was constantly stressed out, suspicious and scared about everything. One day the author found deep tire ruts in her yard and garbage in her driveway. More likely, that fact would lead a person like her to suspect that someone unfriendly had an intention to hurt or do her harm. Third of all, Hasselstrom lived in the environment where women did not stand much for a chance of not being harassed. Men in her area worried her, and their harassment would not stop until stronger measures were taken. However, Hasselstrom did not want to be either daily harassed, be another victim of rape or permanently stressed out and scared. Threfore, she believed that having a gun handy would lead her to a peace of mind she was looking for. In conclusion, relying on Hasselstroms examples provided in the article, she was Justified for her need to own a gun. She had no choice but to use it in dangerous situations to protect herself. When used responsibly, women in the same situation as the author would live protected, safe and with peace of mind they desire. What Hasselstroms message was in this article is that no one, man or woman, should live in fear. And in her situation, owning a gun gave her that security.

The Meaning And Purpose Of Life Philosophy Essay

The Meaning And Purpose Of Life Philosophy Essay What is the purpose of life? What is the meaning of it? Why are we here? Is there a God or isnt there? Which religion is the most correct? Is there an afterlife? There are too many questions that people have struggled for millenniums to tackle. In fact, the way we answer these questions will provide the ultimate context for everything else we do with our lives (Pavlina, 2005). So if nobody knows his purpose of life, maybe, each one of us should choose it independently. Here is a trick I think we should define the purpose of life but not the goals, because our goals may vary and some of them may be reached earlier than the life will end. However, the sense, the meaning passes through the whole life. So, the purpose of life is the life of purpose (Leider). Im Christian and I believe we are created in Gods image for relationship with him. Being in that relationship is the only thing that will ultimately satisfy our souls (Pavlina, 2005). But admittedly, I dont realize what will end the emptiness in my life, what exactly will end such a lack of fulfillment. It is true when people keep God out trying to find fulfillment in something other than God, they will never get enough of that thing. Augustine summarized it in such a way: You [God] have made us for yourself and our hearts are restless until they find their rest in Thee. So there is something inside every human being that cries out for significance; something inside of us that wants to know that we are not just breathing air, not occupying space, but were actually here for a reason and were making a difference. Im convinced there was something in the mind of God when he made each one of us; something that he wanted us to do while we were here. So purpose is not the process of figurin g out what I want to do with my life, but it is really a matter of aligning me with what was in the designers mind. I believe the key is to make a relationship with the creator; so that he can reveal you who you really are, and what your purpose is. My overall religion has effectively become a religion of personal growth. Every day I continue to combine my beliefs trying to bring them into closer alignment with my best understanding of how reality actually works. I think people have been used for many noble purposes in order to recognize the one they were designed for. Children are flowers of life. This is the reason to live. They continue human race, save our life experience, bring infinite happiness to their parents, and at last take care of them when they are old. Loveà ¢Ã¢â€š ¬Ã‚ ¦ I think it is the most pure feeling, the source of persistent, unreasonable happiness. One more thing is altruism. Such an unselfish concern for the welfare of others (Eddy, 1998) is an ideal human life. So I consider all these purposes are intended to evaluate my progress and inspire further progress in the realization of my life purpose. I dont believe that money and power can be our purpose of life. Yes, money may satisfy your needs. Power can give you the right not to carry out someones orders. However, people who have money and power are always surrounded with hypocrisy, jealousy, evil and hatred. I know for sure that we didnt come to this world to buy things and die. We came here because each one of us has a unique purpose that gives us a unique drive. So here Im asking myself: what is it that I do naturally; what is it that I do the best. I believe if the person find such an activity, he will be content, fullfilled. Since early childhood I loved to be an actress. I was occupied with puppet-theatre for 8 years. So Id always dreamed when I grew up, I would enter the theatrical university. I knew it is the best thing I could do act. I woke up in the morning energized, excited about the day, excited about my life. Coming back from school even if that day happenned to be a challenging day with many problems, I was full of power, passion and excitement because I knew I had my purpose. But I had such dreambusters as parents, society who told me You should not do that, Youre not god in that, and Thats not a good way to be. So I was completely suppressed and forgot about my dream. A nd now Im here, at LCC International University where Im studying business administration. It was my choice. But Im not happy. There is something that I know Im not in the right place in life. I dont want to do my job just to pay the bills and to be unsatisfied because this is not in alignment with who I am. So, maybe the purpose is being in the right place in the right time doing the right thing. You are what your deep driving desire is; As your deep driving desire is, so is your will; As your will is so is your deed; As your deed is so is your destiny (The Upanishads). There is no one individual on the planet that is not extraordinary. Every person is unique. So there is a potential within us to make a huge difference in the world within our certain sphere of influence because each one of us has a unique purpose.

Characters In Jekyll And Hyde English Literature Essay

Characters In Jekyll And Hyde English Literature Essay This essay will examine the role of the minor characters in the novel Dr.Jekyll and Mr.Hyde. It will mainly focus on Lanyon, Enfield, Carew, and Poole and how does Uttersons connection to each of these men serve to advance the plot. Hastie Lanyon was a healthy doctor, who then became a letter writer. Richard Enfield was Uttersons cousin and a companion for strolling. Sir Danvers Carew was a member of parliament and client of Mr.Utterson. Poole was a butler at Jekylls house and he kept an eye on the activities done at Jekylls house. Each of these characters help to unpack the case of Mr.Hyde. The novel began with Richard Enfield and Utterson. They both went for a walk and Enfield tells about Hyde. He says that he saw a little man trampling a young girl. Her family was also there and soon the crowd surrounded her. Due to the crowd, the little man got frightened so he asked the family to follow him. He took them to his house and he gave them a cheque of 100 pound. After telling the story, Utterson asked the name of the man but Enfield hesitated to tell but later on, he declared that it was Mr.Hyde. Utterson had always thought that Mr.Hyde was with Jekyll for benefit but the story which Enfield recited, made him stressed about Hydes crime. Utterson became curious about Hyde. He started to look for him and he spotted him near his house. After Utterson saw Hyde, he went to Jekylls house but Jekyll was not there. Instead Utterson talked to Poole and he questions him about Hyde and Poole said O dear no,sir. He never dines here, Indeed,we saw very little of him on this side of th e house; he mostly comes and goes by the laboratory  [1]  . He also said that Hyde has the key to the lab and Jekyll has given the order to his servants to follow Hydes instructions. This made Utterson think that Jekyll was blackmailed by Hyde. At this point , Hydes case was a unsolved mystery and solving it became Uttersons aim. After one year, the news of murder was spread all over London. Sir Danvers Carew was killed by Hyde with a walking cane. The police found a letter near Carew. The letter had the name and address of Utterson. Police informed Utterson and he arrived. He recognized the body and later Utterson came to know that Hyde killed Carew. He took the police to Hydes house but Hyde was not there but still they entered and start searching for evidence. They noticed a half-burned checkbook and the other half of the walking stick. Uttersson recalled that it was the same walking cane,which he gave to Jekyll. The suspicion starts to grow even more as they do not find any picture of him and even the servants said that they saw him twice. Utterson assumed that Jekyll was hiding Hyde. After some time, Lanyon and Utterson met. Utterson wanted to discuss about Jekyll but Lanyon refused. Due to the gaps growing between Lanyon and Jekyll , Utterson wrote a letter to Jekyll to complain about what is happening between him and Lanyon. Week after that, Lanyon died but he left an envelope. Utterson opened the envelope but inside it, he gets another envelope stating not to be opened till the death or disappearance of Dr. Henry Jekyll  [2]  . The two deaths had been a shock for Utterson but he also started connecting Hyde with Jekyll. Whenever Hyde did anything wrong, he talked to Jekyll. At this stage, he had found an envelope that soon revealed the reality. Some time later, Poole came up to Uttersons house and said that he felt that there had been a disgusting game played at his home. Utterson got surprised. Then Poole asked Utterson to follow him and they went to Jekylls house. Poole took Utterson near Jekylls laboratory door and requested Jekyll to open the door for Utterson for but he refused. Poole told Utterson: I have been sent flying to all the wholesale chemists in town. Every time I brought the stuff back, there would be another paper telling me in return, because it was not pure, and another order to a different firm .This drug is wanted bitter bad,sir,whatever for.  [3]   Poole showed the notes that he has been receiving from Jekyll. The notes had addressed the needs of Jekyll. Then he kept disclosing his experiences with the noises in the laboratory. Poole told that he heard someone weeping. Utterson demanded Jekyll to open the door but he heard a voice saying Utterson for Gods sake,have some mercy  [4]  . Utterson identified the voice and insisted Poole to breakdown the door. After breaking down the door, they entered and found out dead body of Hyde. Utterson thought that Jekyll might have fled. He looked around the lab and he saw a religious book, a glass, the drug (that Poole used to bring) and papers with a brief note mentioning to read the papers after reading Lanyons letter. His letter revealed the fact of Jekyll. Lanyon wrote that Jekyll asked him to bring vials and powders to his house and to let the visitor to come along with him. Lanyon mixed powders in the vials and it turned into a portion, which the visitor drank. Soon after drinking the portion, the visitor turned into Jekyll. Lanyons letter let us to know about Jekyll being Hyde. Then, Jekylls letter is read. He says that trampling the girl and the murder, was done by his evil side, Hyde. Carew had a high position in the society so when Hyde killed him, he felt powerful. Jekyll also mentioned that he needed help with the portions because slowly he was turning into Mr.Hyde permanently. He took Lanyons help to get the portion and he confessed front of Lanyon that he was Mr.Hyde. Soon Lanyon died so he had to take Pooles help. However, the experiment was not a big success because it led to his death. This essay has demonstrated how each minor character advanced the plot and it has examined the role of them. First Enfield told the story about the girl that was trampled, and that made Utterson to carry on the investigation of Hyde. Then Sir Danvers Carew and Lanyon died. When Carew died, Utterson went to Hydes house and found materials that make him believe that Jekyll was hiding Hyde. When Lanyon died, he left a letter. At the end, Poole took Utterson to the laboratory and there he discovered the papers. When the papers and letter were revealed , truth came out. Whatever the wrong things he did, were done by his evil side. The mystery of his dark side was exposed by Utterson, the minor characters and at the end by his papers, in which he wrote about his motives and experiences.

Study on the Problem of Money Laundering

Study on the Problem of Money Laundering Chapter 1: 1) Introduction: Money laundering is a global problem. Measuring its impact is tough, as it takes place behind everyones eyes and it apparently is a victimless crime. Yet the damage it does can be devastating to the financial sector and economys real and external sector, especially in case of a developing country. By contrast, effective anti-money-laundering policies can reinforce a range of good-governance policies. This in result helps the country to sustain economical growth particularly by making the financial sector stronger. 1.1) Background Because of the worldwide growing concerns over money laundering, G-7 summit established Financial Action Task Force (FATF) in Paris in1989. Its purpose was to generate an international response to this increasing problem. Since then this organisation has been playing a vital role in tackling money laundering. It works closely with other international bodies that develops and regulates Anti-Money Laundering (AML) policies world wide. FATF members have 29 countries and jurisdiction includes major financial centres in Asia, North and South America, Europe- as well as the European Commission and The Gulf Co-Operation Council. 1.1.1) Problem statement Today a countrys economy largely depends upon the advancement of technology. It made the job a lot easier, but it came with its own challenge. Which concerns the international financial community the most is the bad guys are also using the technology to give their proceeds of crimes a legal look. In short the money made by various criminal activities in various parts of the world is injected into a nations economy to camouflage it or give it a lawful appearance. This system is known as Money Laundering and this problem is growing to a serious proportion over time. IMF estimated that the aggregate size of laundered money worldwide is 2% to 5% of global GDP in 1998. Regardless who or how the dirty money is being used, the operational system or method is always the same. It is a dynamic three stage process. The stages are: Placement- A large volume of cash which was obtained through illegal means is placed in to the financial system, can be used to buy high-price item or may be smuggled out of the country. The point here is to transform the cash into some other kind of asset to avoid detection. Layering- this stage takes place to hide the true origin of the unlawful money. Here in layering stage a complex set of transaction takes place to obscure the trail of that cold hard cash and its real ownership. At this point the advancement of technology helps them. One the methods are Electronic Fund Transfer (EFTs). Others include conversion of monetary instrument, investments in legitimate businesses, purchasing real estates. In most of the EFTs are used frequently. Because of the busy lifestyles and easy access, a lot of EFTs are processed everyday. Among all those when a Phoney EFT takes place between an offshore account and a shell company, It is pretty hard to spot a criminal transaction at first look. Integration- The final step of the process where the illicit money comes back clean to its owner and then integrated to the economy as investment into a legal business. Once integrated, it hides the identity or origin even further. 1.1.2) Research significance There has been little research into the effects of money laundering on the economic growth, particularly in a developing country. Most of the researchers and their works were focused on measuring the amount and usage of money-laundering. Hence the majority of this vast subject has remained unstudied. Therefore the developing countries, which are the prime channels for international money-laundering, are suffering from the need for the guidelines to stop the erosion of the long-term economic growth caused by this problem. 1.1.3) Research question In a developing countrys economy the role of the financial institutes such as- banks, non-bank financial institutes (NBFI), equity market-are critical. They help to sustain the economic growth by concentrating the domestic savings, even the overseas funding. For all these gaining customer trust is vital. Money laundering erodes these institute and affects the customer trust as this is interrelated with other criminal activities that is performed by the workers in financial sector or government. Besides that, money laundering facilitates domestic corruption and crime which results depressed economic growth. It also diverts the resources to less productive activity. In the light of above discussion, proposed work is on following questions: What is money laundering? What are the negative effects of it on economic growth? How does it harm the developing countries? 1.2) Aims and objectives The purpose of this study is to analyse harmful effects of the money laundering on the economic growth of a developing country. Because of the weaker economy, lack of strong policies and comparatively easy regulations the developing countries become an open market for such activities. Therefore those countries have scope to improve their policies, regulations and laws. The objectives of the proposed study are to know: What sectors are mostly being affected? What is the extent of the damage? What can the developed economic community do? What kinds of policies or regulations are being implemented? What kinds of policies or regulations can be improved? As the time advanced, money laundering business has also evolved by keeping pace with the time. Technology has made it more undetectable. The businesses are booming and consequences are visible. But regulatory bodies are also taking necessary steps. They are tightening their borders, educating people, creating awareness. Still these are not enough for the countries affected. Most of the time, they dont have enough resources to divert to that sector. As a result they are bleeding internally. Therefore we can assume the following: Most of the economic damage done by money laundering through its developing country channel is at the expense of the developing economy. The weaker regulations and policies are the more liberty a money launderer gets. Therefore they need to strengthen themselves, with the help of others if necessary. The countries with the developed economy have sufficient resources, therefore options to fight this particular crime. But in case of the developing economies, if not handled in time, it can distort investment, encourage crime and corruption and increase the risk of macro-economic instability. Through this study some solutions may be found, or at least the gravity of the danger ahead. 1.3) Limitations The expansion of money laundering problem is vast. At the same time a greater portion of this crime is goes unreported, hence unnoticed. Authorities all over the world has been struggling to get a proper grasp of the whole problem. The developments that are being made are on the implementations of AML policies and legal sector. But there is a great lack of research on the effects and consequences of money laundering in the developing economies. Therefore there is not enough data available to come to any exact conclusion. Besides, this research is based on the secondary data. So evaluating the existing data was not possible. To be able to do so, a higher level of intervention, e.g. Government, international banking authority etc. is necessary as this research involves the national financial data. 1.4) Overview The first chapter of this research introduces the area or the topic to the audience. What is money laundering, how big or vast the problem is, how did it start and how it is done, what are the authorities doing about it and what are the limitations of this particular research has been described in this section. The second chapter includes an extensive and analytic review of the existing literature that is available to refer to about this subject.(incomplete**) Chapter 2 2) Literature review 2.1) introduction This part of the report contains a thorough and critical study of the books journals, articles and other materials that is available on money laundering. This review gives the audience an idea how much research has been done in this area. It also helps to get an idea of the worlds concept of money laundering. 2.2) Review A channel or medium is required to carry out money laundering activity. The preferred medium that a Money launderer chooses is the financial institution that is efficient and costs less while carrying out the transactions (Masciandaro, 1999).Such activities ruin the integrity of those financial institutions and affects their soundness or stability. As a result of their weak integrity, they loses the investors confidence and eventually direct foreign investments are reduced. This process in turn disturbs the long-term economic growth of the country. Barret (1997),Masciandaro and Portolano (2003), Paradise (1998) and Quirk (1997) argued in their studies that the economic and financial systems of a country are threatened by money laundering. Despite of money laundering being a global problem, there has been a little research in the area of the harmful effects on economy. Some notable exception will include Uche, C U (1999) and Masciandro, D (2000). Most of the works were done on the legal framework or to develop effective AML policies over the years. Therefore quality data on the pervasiveness or any long term pattern of the affected economy is rather limited. The origins of money laundering can be traced as far back as 1930s in organized criminal activities (Bosworth-Davies and Saltmarsh, 1994). So it is clear that the concept is not a new one. Over the years it just grew over its proportion. Financial Action Task Force defined the problem as: . . . the processing of a large number of criminal acts to generate profit for individual or group that carries out the act with the intention to disguise their illegal origin in order to legitimize the ill gotten gains of crime. Any crime that generates significant profit-extortion, drug trafficking, arms smuggling and some kind of white collar crime may create a need for money laundering (FATF 1998). According to Mulig and Smith (2004), the term money laundering was originated by the organised crime families, who used to own legitimate laundry business to disguise or launder very large amount of cash, which was in fact, earned through extortion, prostitution, gambling and drug business. United Nations office on Drugs and Crime (UNODC) explained that there are two reasons why the criminals, May it be the street crime or the corporate white collar embezzlement or maybe a corrupt public official, need to launder the money because, it leaves a paper trail as evidence of their crime. Secondly, the money itself is vulnerable to seizure so it needs to be protected. In other words it is an Unfinished product to the criminal until it is cleaned. A bigger portion of literature on money laundering concentrates on the legal framework. That includes the legislation and regulations that can be traced back to the US war on drugs in 1980s (Gill and Taylor, 2004). Since then it was a concern that was growing over time. In response to that, international agreements were being made to tackle such activities amongst which, the UN was the first international organisation to combat the crime globally. Subsequently, in 1989 G-7 established FATF. In the FATF annual report (FATF, 2006b) it was stated that, most of the illegal activities are linked with corrupt practices and lack of transparency. This subsequently arises to weaker governance which results poor and ineffective use of AML policies. Those are the places that become heaven for money launderers. Their activities erode the financial system from inside while taking advantage of the volatile economy. In large scale money laundering operation, cross-border factor is always included. Therefore an international approach was a crying need to handle this problem effectively. That was also a reason why the UN and the Bank for international Settlement took the initiative to address the problem in 1980. Following the FATF formation, the regional grouping such as- Council of Europe, European Union, Organisation of American States And many others designed AML policies required and effective for their member countries. Asia, Europe, the Caribbean and southern Africa have created regional AML task force-like organizations, and similar groupings for western Africa and Latin America are being planned too. As discussed previously, second stage of money laundering widely uses the technology as one of their means of layering the dirty money, the use of it is becoming rather popular to them. The advances in technology, especially in Information and Communication Technology (ICT) have benefited the whole world. Money launderers are also included in the group of beneficiaries. They take full advantage of these benefits. Modernisation in technology, particularly in ICT has brought various different ideas banks or other NBFIs to offer new products and services through new means of delivery. These new products and services and often contain fast transmission of digitized information, facilitating of fund movement and transcending distance within or across the national boundaries (Bradley and Steward,2002) and anonymity (Philippsohn,2001). According to Mishkin and Strahan (1999) and Berger (20003) speed, distance and anonymity are the key factors that are rapidly changing the financial system. However, Masciandro (1998, 99) and Philippson (2001) implied that those new benefits including e-banking and all sorts of e-money technologies have made money laundering activities even more robust. As a matter of fact, FATF (2001) on their typology report identified the online banking facility and internet as the major money laundering vehicle now days. According to Chief Financial Officer Report (2002) Technolog y changes have influenced the operating strategies of many banks and Non-banks as they seek to compete in the increasingly fast-paced and globally Inter-dependent business environment. Chapter 3 3) Methodology 3.1) introduction: In this chapter all the data that has been collected will be shown. That data will be analyzed and interpreted in to results. As this is not a very comprehensive research, All the data has been collected from secondary sources. 3.2) Data collection