Outlines the requirements of the PATRIOT Act of October 2001; together with subsequent legislation, it has led to a dramatic increase in surveillance activities affecting both traditional financial institutions and the newer types known as Money Service Businesses. Lists its demands, that all financial institutions: establish a more formal anti‐money laundering programme with a compliance officer, implement an employee training programme, file Suspicious Activity Reports, verify new customers’ identities etc. Indicates the cost to the financial services industry of compliance. Concludes that, given the massive quantities of information collected, even the best technology may not ensure that the tiny minority of terrorist traces actually get followed up
Purpose -While the "Information Age" has provided the technological tools to "democratize" data and make it widely available to a vast audience of knowledge consumers, ironically it has also provided the materials for a tapestry of rules, regulations and processes that make it more difficult for individuals to access information relevant to both their public and private lives. The purpose of this paper is to examine the role of the private sector in the control and policing of financial crime, and provide an empirical and theoretical framework for understanding the complex tensions created by the simultaneous expansion of both data sources and technologies to collect and format data to create marketable information "products." Design/methodology/approach -Three primary methods were used to gather the data for this research. Extensive literature reviews were conducted together with an analysis of existing data bases. Finally, a number of interviews were done with various corporate managers to ascertain their views of the existing climate of regulation and/or to determine their approach to monitoring financial crime. Findings -Regarding the private sector's role in the control of financial crime, this research found five distinct roles; each with its own dynamics and implications for successful suppression of unlawful conduct. The five roles are grudging informant, enthusiastic intelligence operative, agent provocateur, cop on the take, and officer friendly. A calculus of incentives and disincentives determines which role will be adopted by the private sector. Originality/value -Since this paper was exploratory in nature, resulting in a new taxonomy of compliance types, more in depth research ascertaining the empirical validity of each type would be in order. Such knowledge can help policy makers formulate rules and regulations that will enhance public/private partnerships in the control of financial crime.
As the Information Age shapes the way we understand ideas as intellectual property, the notion that students’ideas in the classroom should be protected as a potential asset has increasingly gained attention. Academics and practitioners alike debate how best to address the balance between traditionally open classroom learning and traditionally secretive commercial innovation. In this article, the authors discuss the use of nondisclosure agreements aimed at protecting students’ business ideas. Based on analysis from three relevant perspectives including academic approaches, legal considerations, and ethical dimensions, the authors showwhy a nondisclosure agreement as a protective legal instrument is ineffective, and why instructors would better serve students by appealing to the ethics of information value and mutual responsibility. Pedagogical recommendations as well as an invitation to address this issue as a profession follow.
A n internship, or off-campus learning experience, can be a valuable method through which students acquire added knowledge, explore attitudes and values, or sharpen and expand skills. However, two primary barriers to an effective internship program are ( a ) the sizable investment of time needed to identify and negotiate an appropriate internship site for each student, and ( b ) the increased amount of time required of the supervising faculty member. A t Saint Louis University the first barrier has been overcome by the Career Planning and Placement Center's assumption of this responsibility in cooperation with all departments. This chapter addresses the second barrier by describing a systematic, stepby-step model that faculty can follow in the supervision of interns to reduce the amount of time required. The model includes nine steps that faculty go through with each student: initial contact, negotiation of learning goals, selection of internship placement, objectives and activities, methods of evaluation, planning of ongoing contact, the learning contract, ongoing contact, final evaluation. For each step, alternatives that can be chosen by the student and faculty supervisor are described.
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