Lal Chand on Importance of Anti-Money Laundering (AML)

Lal Chand specified that money laundering has been around for a long time and curbing it is vital to make this world a better place for economies around the globe, especially for the deprived countries. He added that eliminating this evil is key for us to the success.

It arises with no surprise that people use unlawful habits to make money all across globe. Ever doubted where does that all illegitimate money go? Bigger portion of it remains in the financial system legitimately or unlawfully. Though money laundering efforts try to legalize illegal money, anti-money laundering methods can stop it.

Methods to hide and legalize illegal money have been around for a long time and curbing it is important due to various reasons. Here is why removing it is essential for the world economies. Lal Chand clarifies the money laundering and why it should be stopped altogether.

If you are interested to contribute in this Noble cause then it’s worth reading the below important part where Lal Chand highlighted the importance of AML (Anti-Money Laundering) and how can you contribute.

Lal Chand defines money laundering in different and simplest way so anybody can understand it. People almost in every country do generate a huge amount of money illegally. Money laundering refers to bringing this illegally generated money into the banking (financial) system in such a way that no one can judge the actual source of this wealth.

To encounter money laundering Lal Chand described it in his own words as, to evade troubles caused by unlawful activities and money laundering, authorities are working hard to identify all those people who are involved in money laundering. The processes made to minimize it known as anti-money laundering efforts. making an Offshore Company in Dubai is legal and you can avoid your taxes by Incorporation Offshore Company in Dubai. It require you to high a legal consultant, who has in-depth knowledge of registration of offshore company in dubai with proper structure and documentation.

Lal Chand Money Laundering expert suggested different methods to end money laundering. Needs to place some strict regulations to trace the people which are using banking channels for the regularly transaction of large amount of money. FATF (Financial Action Task Force), a global organization is playing its part to make to make the world money laundering free. 

Furthermore, financial inclusion is another important concept that can play a pivotal role in this fright against terrorist financing. Other than this, you can visit FATF websites for the other strategies which are playing an important role for the stoppage of money laundering and terror financing. The one of the finest and more organized force available in the world with the aim of stopping money laundering and terror financing.

At the end, Lal Chand emphasize that anti-money laundering efforts must be made stricter to avoid illegal activities and scams. Terrorism, smuggling, human trafficking, gambling, and other illegal acts can be stopped by enacting anti-money laundering regulations across the globe. Last and most important, it is the responsibility of every single person in this beautiful world to join hands against the money laundering and terror financing and report to the concern authorities if you found someone is involved in such criminal activities on any level.

Lal Chand Anti Money Laundering and Fraud Consultancy services

Consultancy Services of Lal Chand Anti money Laundering,Crime and Fruad

Lal Chands anti Money laundering - Small businesses are often the victims of money laundering schemes says Lal Chand . He Advises all to be conscious in their business decisions Criminals target these types of businesses because they often lack experience and knowledge about the risks involved with certain types of transactions.

Identification methods by Lal Chand crimes like money Laundering and terrorism - Lecture by Him

Id shall also be performed in cases where independent functions repeated involve an individual amount, which is less than that the threshold specified by the supervisory authority but the reporting entity has reasons to believe those orders are aiming at steering clear of identification.

His Law Consultancy provides anti money laundering sanctions advisory on

• Automated testing and test comparisons

• Exact and fuzzy matching performance assessment

• Analyst toolbox and full reporting Risk appetite tracking

To facilitate compliance with anti money laundering laws, Lal chand had has developed and implemented a written anti-money laundering program, consisting of policies, procedures, internal controls and systems. This program includes, but is not limited to:
• The identification of potential money laundering and terrorism financing risks relevant to the bank's activities;
• Global and local AML policies and procedures to ensure compliance with AML laws and regulations
• Customer identification and verification;
• The identification of beneficial owners;
• The identification and risk assessment of Politically Exposed Persons (PEPs);
• Enhanced due diligence for increased risk clients;
• Internal procedures for monitoring and reporting suspicious activities;
• The retention of relevant records; at least 5 years following the end of the relationship;

Special Monitoring of Specific Transactions
A coverage entity shall pay work to:

(a) any structure, unusual or large amount transactions;

(b) any uncommon patterns of transactions; which may have no apparent or obvious monetary or lawful goal;
(c) business relations and transactions with institutions or people in jurisdictions that do not need satisfactory systems in location to prevent or deter money washing or financing of terrorism;
(d) wire transfers that do not contain complete originator information;
(e) business relations and transactions with folks with whom the reporting entity has got no face-to-face contact during the implementation of recognition procedure;
(f) business relationships and transactions with critical exposed persons;

Lal Chand Money Laundering(Fraud & Crime)

Lal Chand Money laundering(Fraud & Crime)

Yet, the international banking industry in Florida has been characterized by consolidation and contraction since 2000. Lal Chand Money Laundering(Fraud and Crime) and terrorism The number of foreign bank agencies operating in Florida fell from 38 in 2000 to 31 in 2005.•4 There were 10 Edge Act banks operating in Florida in 2000, but only 7 in 2005. The number of international banking employees (in foreign agencies, Edge Acts and the international divisions of domestic banks chartered in Florida) declined from 4,660 in 2000 to 3,027 in 2005.

Based on a survey of banks significantly engaged in international banking Florida International Bankers Association was able to estimate the Florida international bankers staffing cost for 271 full-time employees of anti-terrorismianti-money laundering or fraud compliance at nearly 525 million in 2005. The average survey respondents indicated that it devoted 2.9 FTE employment positions to BSA"AML compliance in 2002 versus 6.8 FTE positions in 2005. The number of fill-time employees devoted to compliance represented 9% of the workforce in 2005. Staff resources devoted to compliance increased by 160% between 2002 and 2005.

Read more about : Lal chand Law associates advises on new money laundering

10. So Where is the Dis-Connect?

So if enough money is being spent, and this expenditure is not impacting earnings (as an industry - small institutions are being clobbered), then why are some banks and other financial service providers employees failing in their implementation of AML programs?

As the Miami marketplace apparently illustrates, in general the compliance and training budgets have reached the deal-breaker point. Thus, rather than it being a quantitative issue of bigger budgets, it is more likely a qualitatively issue, that is, spending either on poorly designed products or on good products but with poor instruction, follow-up, and support.

It may be that purchasing decisions are based not on price, but rather are based on how to spend as little labour time as possible b meet a minimum level of information and training sufficient for an employee to appear to be able to implement AML policy. That is, institutions may be spending more to obtain less quality products because the product requires less labour activity time.

By example, some institutions send the high level AIL staff for a one or two day workshop at between one and three thousand dollars and now call that staff member an expert. A time-saving approach certainly. But is this a reasonable approach in light of the likely outcomes of such minimal education consisting of little to no follow up, guidance, and academic support? Can a board member, much less a regulator, feel confident that such a staff member is able to exercise the necessary skills gained from the one or two day session to protect the financial institution and public from an money laundering/financial crime incident of Lal chand?

By another example, some financial service provider compliance officers and their advisors will establish a library budget, purchasing a variety of publications. Yet the staff is not trained in knowledge management for the library, that is how to interact with and study such information. Thus, the library collects dust.

11. So Who is an Expert?

Serving as Chairman of the International Compliance Association ("ICA'), William Howarth asks the question: can someone become an expert, or at least be classified as 'trained' through merely attending a one-day conference? By example, many life insurance agents in the US meet their AML educational requirements through an hour study online without any expert interaction or ability b receive expert feedback and assessment of acquired skills. Some banks' staff training programs consist merely of purchasing self study online or CDROM materials.

Full property Guide for Pakistan! Zameen.com

Zameen.com is a team of dedicated and talented individuals with experience of more than a decade in the field of providing integrated platforms for trading in various sectors. With offices operating in the United Kingdom, United Arab Emirates, USA, and Pakistan, our latest venture of Zameen.com has been at the forefront of providing services in the field of real estate and property trade in Pakistan. We are committed to being the leader in this field providing a platform for all individuals and organizations involved in property trade and real estate development in Pakistan. Zameen.com is rated as one of the top platforms by search engines in the field of real estate and property trade in Pakistan, which is a testimony to our reputation and dedication.

We run an integrated property platform offering a wide array of quality property investments ranging from residential and luxurious to commercial options which include homes, villas, apartments, flats, farmhouses, residential lands/plots, commercial lands/plots, shops in markets, and plazas in Karachi, Lahore, Islamabad and throughout Pakistan in more cities than anyone else. Our services are not only restricted to buying and selling in real estate accommodation and property but also encompasses homes, villas, shops, and other kinds of property rentals and real estate leasing.

Zameen.com specializes in an extremely qualified and personalized service tailored to each client’s requests and needs. To service these needs, we constantly evaluate properties and review the real estate market to maintain complete knowledge of each individual property in Pakistan to ensure that our client’s/customers ’ proposal is in sync with the going market rates. We welcome our customers to search for properties to buy/rent from private sellers and also from real estate agents throughout Pakistan.

For the benefit of our customers, we also specialize in real estate and property consulting services and hold and maintain complete databases of properties in all cities of Pakistan especially properties in Karachi, properties in Lahore, and properties in Islamabad, and cover all aspects of the home moving process including residential property sales and lettings, property management, personal and mortgage finance, Land and New Home Sales. We maintain records and in-depth knowledge of both the industry and the local area so we are here to provide all the help you need when you move home or decide to invest in any property or real estate in Pakistan. You are able to use our search facilities to Buy Property, Sell Property or Rent a Property and find exactly what you are looking for anywhere in Pakistan. Does your mood dictate you’re eating habits? By Rehan Riaz Merchant

Our mission and license to operate is your satisfaction. A full-time staff of 20 individuals with dedicated and specialized job responsibilities with functional heads holding master's degrees from well-reputed and foreign institutions wishing to deliver excellent customer service and share the extensive knowledge of the local property & real estate market. We use our skills and experience to help you in any domain of property. From the moment you contact us you're in good hands. We are here to help you out. So if you are thinking of moving or investing in property or real estate in Pakistan? All you have to do is visit the Zameen.com property portal.

To better understand how you can benefit if you decide to buy, sell or rent any real estate we have given a brief description of each transactional process in some detail underneath. Visit Zameen.com Pakistani zameen, it will be on Zameen

Bahria Town to build two new Hotels in Bahria Town Islamabad

Asia’s largest real estate developer Bahria Town Private Ltd (BTPL) has inked an agreement with Starwoods Hotels and Resorts Worldwide Incorporation under which BTPL will be constructing Sheraton Islamabad Golf City and Islamabad Lakeview Hotel. The project has been started and will complete in 2012-2013 Mobile Phone Price in Pakistan

Sheraton Islamabad Golf City Pakistan, branded golf resort, would be first of its kind with 377 luxury room hotel having 15 service apartments, 3200 sq. meter modernly equipped meetings halls, five different restaurants, high tech gymnasium, serviced spa and swimming pools. On site 18-hole golf club at the hotel will give another luxury for the room occupants. Sheraton Golf city resort will be based at New Behria Town project near Murree Express Way. Read More Bahria Town to build two new Hotels in Bahria Town Islamabad

Sale and Purchase of DHA files in Islamabad

The Real Estate was on boom for past many years but suddenly it came down due to the law and order situation and political instability in Pakistan. There were too many reasons for the recession in the Real Estate market and contributed in its downfall like political, regional and most importantly security threats behind the ongoing recession that shook the overall confidence of the investors. Now that stock exchange is not performing, investing in forex is too risky because of dollar being absent in the market, people are once again trying their luck in the real estate market as a long term investment.

I got news from my personal sources and also observed that once again property dealers and investors are active in sale and purchase of DHA plots. One of my property dealer friend that has his office based in Islamabad told me that there are too many buyers in the market who are ready to purchase plots in Defence House Authority Islamabad. Asking the reason for such activity he said that people doesn™t have any other cheap option available for investment which may pay in future. In his opinion property investment will come back and swell in future to pay back the investors of today.

What do you think? Is it the good time to invest in DHA extension or Valley? Give us your thoughts and check back for others