‘The fight against financial crime is one of the major challenges of our times. We emphasise that, as both financial services and crime become increasingly globalised, this…
Abstract
‘The fight against financial crime is one of the major challenges of our times. We emphasise that, as both financial services and crime become increasingly globalised, this challenge can only be met if all major financial centres work together. Effective cooperation between financial regulators and law enforcement authorities at the international level is an essential element of this…
Crimes are committed for personal reasons or for profit. In any crime for a profit scenario the state has an interest in removing the profit from the criminal. Drug offences…
Abstract
Crimes are committed for personal reasons or for profit. In any crime for a profit scenario the state has an interest in removing the profit from the criminal. Drug offences, other than simple possession, are the paradigm. People use drugs for a variety of reasons but, at least in the illicit drug trade, individuals sell drugs in order to make money. Traditionally, this was a cash‐based enterprise and, frequently, a misplaced investigative opportunity. A state can attack the criminal profit in order to attack the enterprise. When an illicit criminal activity is undertaken for cash prosecutors and investigators must look at this as an opportunity.
Begins with the Canadian Proceeds of Crime (Money Laundering) Act 1991, which was amended after 2001 into the Proceedings of Crime (Money Laundering) and Terrorism Financing Act…
Abstract
Begins with the Canadian Proceeds of Crime (Money Laundering) Act 1991, which was amended after 2001 into the Proceedings of Crime (Money Laundering) and Terrorism Financing Act. Looks at developments against money laundering in other countries such as the UK and USA; some prominent international measures and conventions include the 1988 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, the 1990 Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds of Crime, the Organisation for Economic Cooperation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, and the Palermo Convention of the United Nations. Mentions also relevant United Nations conventions against terrorism and corruption. Moves on to international standards, mentioning the work of the Basel Committee, the World Bank and the International Monetary Fund. Examines in detail the work of the Financial Action Task Force, which has become the recognised international forum on money laundering matters, and its 40 recommendations.
Details
Keywords
Discusses the sharing of assets confiscated from money launderers by the nations that cooperate against the laundering practice, with special reference to Canada’s approach…
Abstract
Discusses the sharing of assets confiscated from money launderers by the nations that cooperate against the laundering practice, with special reference to Canada’s approach. Examines what the Financial Action Task Force and international conventions say on this subject. Reviews the fairly recent history of victim compensation in Canada and elsewhere, including Canada’s provisions for forfeiture in terrorism cases and for restitution using a victim fund surcharge on offenders. Suggests that an international convention should clearly direct how forfeited assets should be distributed to the victims of the crime; at present it is difficult for a country that prosecutes to ensure equitable distribution to all victims, especially if they are foreign nationals.
Details
Keywords
Daniel P. Murphy and Ann Boyd Watts
Wealth transfer taxes, including the estate tax, have been an integral part of American tax policy since the eighteenth century. The current estate tax has its roots in eighteenth…
Abstract
Wealth transfer taxes, including the estate tax, have been an integral part of American tax policy since the eighteenth century. The current estate tax has its roots in eighteenth century English political philosophy that provides civil law precedent over any natural rights an individual possesses in property. The purpose of the tax is to limit wealth accumulation and discourage the formation of economic dynasties.Since the adoption of the Sixteenth Amendment to the Constitution and passage of the Revenue Act of 1916, the estate tax has largely targeted high-wealth individuals. The modern estate tax began with a narrow base and relatively low rates. The tax base has expanded during the past 80 years to include both estate and lifetime transfers and tax rates have ranged from 10 to 77%. During this time, the degree of rate progressivity has remained high but has decreased since 1976. The incidence of the tax has varied over the years due in large part to the size of the estate tax exemption or its equivalent.The estate tax's contribution to the federal budget has ranged from over five percent to its current level of about one percent. The estate tax's growth, however, has accelerated in recent years as personal wealth has increased and American society has aged.
Eric Monier-Vinard, Brice Rogie, Valentin Bissuel, Najib Laraqi, Olivier Daniel and Marie-Cécile Kotelon
Latest Computational Fluid Dynamics (CFDs) tools allow modeling more finely the conjugate thermo-fluidic behavior of a single electronic component mounted on a Printed Wiring…
Abstract
Purpose
Latest Computational Fluid Dynamics (CFDs) tools allow modeling more finely the conjugate thermo-fluidic behavior of a single electronic component mounted on a Printed Wiring Board (PWB). A realistic three-dimensional representation of a large set of electric copper traces of its composite structure is henceforth achievable. The purpose of this study is to confront the predictions of the fully detailed numerical model of an electronic board to a set of experiment results to assess their relevance.
Design/methodology/approach
The present study focuses on the case of a Ball Grid Array (BGA) package of 208 solder balls that connect the component electronic chip to the Printed Wiring Board. Its complete geometrical definition has to be coupled with a realistic board layers layout and a fine description of their numerous copper traces to appropriately predict the way the heat is spread throughout that multi-layer composite structure. The numerical model computations were conducted on four CFD software then compare to experiment results. The component thermal metrics for single-chip packages are based on the standard promoted by the Joint Electron Device Engineering Council (JEDEC), named JESD-51. The agreement of the numerical predictions and measurements has been done for free and forced convection.
Findings
The present work shows that the numerical model error is lower than 2 per cent for various convective boundary conditions. Moreover, the establishment of realistic numerical models of electronic components permits to properly apprehend multi-physics design issues, such as joule heating effect in copper traces. Moreover, the practical modeling assumptions, such as effective thermal conductivity calculation, used since decades, for characterizing the thermal performances of an electronic component were tested and appeared to be tricky. A new approach based on an effective thermal conductivity matrix is investigated to reduce computation time. The obtained numerical results highlight a good agreement with experimental data.
Research limitations/implications
The study highlights that the board three-dimensional modeling is mandatory to properly match the set of experiment results. The conventional approach based on a single homogenous layer using effective thermal conductivity calculation has to be banned.
Practical implications
The thermal design of complex electronic components is henceforth under increasing control. For instance, the impact of gold wire-bonds can now be investigated. The three-dimensional geometry of sophisticated packages, such as in BGA family, can be imported with all its internal details as well as those of its associated test board to build a realistic numerical model. The establishment of behavioral models such as DELPHI Compact Thermal Models can be performed on a consistent three-dimensional representation with the aim to minimize computation time.
Originality/value
The study highlights that multi-layer copper trace plane discretization could be used to strongly reduce computation time while conserving a high accuracy level.