Police corruption relating to money laundering Essay

Police demoralizeion relating to money clean - Essay ExampleThis nexus of patrol and politicians often leads to disastrous consequences for the countrys prosperity. Political leaders have often been found to be involved in the cases of money laundering in many countries around the world. In such cases, money laundering happens to be the next stage of money laundering. Political leaders generate billions of dollars of funds from different corrupt practices. They cannot locate this money in countrys banks, which then requires to be deposited elsewhere using the money laundering route. International bodies uniform UN have also raised the issue from time to time, and called upon respective governments to put in place right rules and regulations which help in controlling the menace of corruption. The UN Convention Against subversion (UNCAC) is one such international understanding which came into jampack in 2003 and calls upon member countries to establish criminal offence cases ag ainst people indulging in corrupt practices. patronage much persuasion and resolutions adopted by different countries from time to time, the menace of corruption appears all the much strong all these years.Corruption as such has been defined as the ab do of a position of hope to gain an unfair advantage (Chaikin, 2008). When the extent of unfair advantage gains huge proportions, things appear to go out of hand. such(prenominal) practices not only prove to be a big drain on the development and resources of the country, besides it also adversely impacts the morale of the citizens. Many politicians have often been implicated in money laundering cases. For example, French politicians Renaud Donnedieu de Vabres and Francois Leotard were found to guilty and convicted for money laundering in the political party of the President Chirac (BBC, 2004). In general the money laundering takes places in such a manner that money earned done corrupt means is stashed away in banks abroad, which th en finds way back home using sham invoices, loans etc. This money is then used by the concerned person to make luxurious purchases or further promote the businesses (Fig). Once the money launderer is able to firm up the chain, then it becomes extremely rocky for the law of the land to trap it, more so because the chain is established with fullest support from the police establishment. Corruption and money laundering often go hand in hand, with the presence of one strengthening the other. plot of ground concealing such money, the police administration needs to be paid bribes. Chaikin (2008) defines money laundering as a process in which the ownership or control of assets and income are obscured or concealed from tax authorities, law-enforcement agencies or private parties, who have a legitimate interest in discovering the true beneficial owner or controller of such assets/income. Police administration is the key law enforcement agencies entrusted with taking action against such co rrupt practices. Chaikin (2008) further states that money laundering has two inter-related processes, namelyAnyone hiding the money for improper or black reasons is involved in money laundering.Money is cleaned or sanitised whenever its true nature, source or use is concealed. In some countries this process is called conversion of black money into white money.There were allegations that Iraq was receiving arms and ammunition from international arms dealers even during the period of