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Daily Archives: December 14, 2012

TRAC – Federal Money Laundering Enforcement Efforts Lag

Transactional Records Access Clearinghouse – “For the recently ended fiscal year 2012, there were 310 new criminal prosecutions for money laundering offenses, according to the latest available data from the Justice Department. This number is down by 4 percent from last year, and down 40 percent from a peak reached in fiscal year 2005, the first year of the second administration of President George W. Bush. Of the 310 money laundering prosecutions in FY 2012, Justice Department records showed that more than two out of three (222 of the total, or 72 percent) were non-drug-related and only 88 (or 28 percent) were drug-related. Drug-related money laundering prosecutions are down 12 percent from last year and down 60 percent from seven years ago; other money laundering prosecutions are unchanged from last year and down 24 percent from seven years ago. For more details, including a timeline back to 1995, a breakdown by investigative agency, and the top ranked judicial districts for both categories of money laundering offense, read the report.”

The Re-emergence of Europe

The Re-emergence of Europe. Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum [links to various formats to download the book] “Europe has reached a critical tipping point. It faces either disintegration and collapse or a chance to achieve deeper integration and emerge much stronger from the current crisis. For the moment,… Continue Reading

Retirement costs for defined benefit plans higher than for defined contribution plans

BLS: “Beginning in the 1980s, a dramatic shift occurred in employer-sponsored retirement plans. This shift was away from traditional defined benefit plans and towards portable defined contribution plans, such as the popular 401(k). Reasons for this shift were due, in part, to costs and flexibility for both employers and employees. Employer contributions required for defined… Continue Reading