Money Laundering and Major Risks

The concept of money laundering is very important to be understood for those working in the financial sector. It is a process by which dirty money is converted into clean money. The sources of the money in actual are criminal and the money is invested in a way that makes it look like clean money and hide the identity of the criminal part of the money earned.

While executing the financial transactions and establishing relationship with the new customers or maintaining existing customers the duty of adopting adequate measures lie on every one who is a part of the organization. The identification of such element in the beginning is easy to deal with instead realizing and encountering such situations later on in the transaction stage. The central bank in any country provides complete guides to AML and CFT to combat such activities. These polices when adopted and exercised by banks religiously provide enough security to the banks to deter such situations.

However if a bank encounters any such situation it encounters the following types of consequences:

Reputational risk

The major risk a bank faces when it finds itself caught in any sort of money laundering is reputational risk. The reputation of the bank goes negative and in turn it might face huge withdrawals. There might me loss of profitable business and many other liquidity issues. The quantum of this risk might cause a bank to confront various investigations costs and penalties. The biggest hurdle a bank has to undergo is the situation of mistrust by the customers which is devastating.

Operational risk

It is another one of the major consequences of money laundering which a financial institution faces. It is a kind of risk which lies in the internal procedures, people and system after they breakdown. It is a risk which is included in the operations of the business. Thus it creates disturbance in the smooth functioning of the organization.

Legal risk

Legal risks are also posed to the organizations due to the uncertainties in the legal actions which might come up for the organization to deal with them. These might include certain charges on the bank, the dealing between the money launderer and the bank etc.

Concentration Risk

This type of risks is majorly pertains to the banking industry and defines the probability to which any bank has lent money to a particular group. The increased lending without proper identification or the realization after encountering money laundering act may cause a bank to suffer loan losses which in turns deteriorate banks standing in the industry.

Opportunity Cost

One of the major consequences a bank faces is the increase in opportunity cost. It is increased in a way that the management finds itself spending its time in managing the damage control which the act of money laundering has caused instead of utilizing that time for other better perspective.

Thus money laundering brings many adverse consequences to the organization due to the risks it presents. It increases the probability of major risks and the opportunity cost of the bank and ultimately causes the bank to face losses.

What Is Management Training?

It’s amazing to think that anybody would even need to ask the question “what is management training?”, but management is a term that gets bandied around so much that it can be easy to forget its true purpose and why on-going training is important for all and any managers in the present day.So what is management training? Put simply, it is the method of improving the skills and development of people in management and leadership roles. With management training, a manager or leader within a company should be able to make better decisions and work more effectively.Why is management training important?On-going management training is important because effective management is crucial for businesses. If an employee makes a mistake, it might be a small thing that can be rectified. However, if a manager makes a mistake, it could affect all of the employees working under him/her, which could create a greater ripple effect than the employee’s mistake, and cause more damage to the company, both in the short- and long-term.It is important that businesses invest in training for their managers on a regular basis, not just as a one-off exercise. In theory, the more training a manager receives, the better chance they have in making well-informed, confident decisions that will help a business to power through both the good and bad times. Also, they may have a competitive advantage over other businesses working in the same industry who offer the same kinds of products and services, especially if those other companies do not make the effort to invest in management and leadership training.How can management training help?Management training can help in a number of ways, including:

Time management: Helping a manager handle their time better, allowing them more time to make decisions and to concentrate on the more important factors affecting the business and their work.
People management: Helping a manager to decide how best to delegate workloads, so that the right people with the right skills are working on the right projects and getting the best results in their work.
Resource management: Helping a manager to decide how to best use a company’s resources, whether it’s people (see above), financial, goods, equipment or the help of another department within the company (e.g. IT).Management training is sometimes tailored specifically to a manager or type of manager. For example, the skills that a CEO or Director requires may be vastly different to that of a middle manager or team leader, however many of the principles will still be the same.

The Online Casino and Online Slots Are The Future

When online casinos began sprouting up all over the internet, there were definitely naysayers in the online casino areas. Folks couldn’t believe that the luxury and fun of a real gaming hall could be brought to the internet. For some, wrapping their minds around a slot machine in itself was too much. Now, they had to figure out the enormous luxury of online casino slots from home.

It took some time, but the internet had to make room for the most elite in online casino slots and video slots. The internet did, so for many fans of strategic gaming and luck, they had their minds made up: Online Slots may soon be the standard for gambling.

Video Poker is one online game that is growing more popular every hour. Poker itself has a rich history that is hard to compete with. When you think about it, an online casino is the safest place to play the game of poker.

When poker games met up in dark saloons in the past, the conditions were not exactly ideal. Now, you can feel the excitement of gambling and online casino games, slots in particular, from the luxury of your own home computer.

Consider this: new online slot games and casino games are being designed more and more for a new generation. The new generation of online gaming and slot machines is a generation of computer users. The technology now is geared towards computer savvy gamblers. Designs of online slot machines can range from classic looks to a more sophisticated and edgier look. While this may scare off traditional slot machine users in traditional casinos and gambling halls, the use of new online casino slots is growing and user friendly. Appealing to a larger and newer audience is essential for online gambling and traditional gambling industries.

The possibilities for the looks and designs of Slots and Online Casinos are endless. If you are new to online slots, you can be sure that you will find the style that you traditionally would like to see in casino. The future of online slots is wide open and catering to folks like you is what the online casino industry is all about.

With interaction online, playing online casino games such as online slots can be a great activity for money or for fun. Whether you are a younger generation slots player or a traditional slots player, finding a unique and exciting online slots experience is easy once you get started.