A Quote by Yemi Osinbajo
Corruption and illicit financial flows are different. But they really must be twinned. This is because, for practical purposes, it is an eminently more sensible approach to treat most of the sources of illicit financial flows as corrupt activity, within a broader use of the term.
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Many governments and corporations take no moral responsibility for the enslavement of migrant workers and freely do business with states built on the back of slave labour. Illicit financial flows and tax evasion are ignored in the interests of some nations and their corporations, stripping the tax base that is so vital for essential services.
In fact, when drugs are legalized, use sometimes goes down, it's been claimed. Part of the reason is that teenage kids use illicit drugs because they are illicit. They are thumbing their noses at society. If they were legal, they might not.
The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want to take their money and run. That is the financial mentality.
Amongst the financial Twitterati, the term 'muppets' has come to describe any client used and abused by some financial predator. I've adopted the term to describe portfolios that have been assembled for purposes other than serving the clients' best interests.
The most cogent principle that can be drawn from traditional limitations on the right to keep and bear arms is that dangerous persons likely to use firearms for illicit purposes were not understood to be protected by the Second Amendment.
What we're going to do is redouble our efforts on financial regulatory reform, because that has in it sensible things like say on pay, so at least the shareholders are minding the store, sensible things like saying, for heaven's sakes, compensation should be focused on - on long term, so that you don't have rewards for short-term risk-taking.
Apparently modern financial regulators are vastly more sophisticated than we were as financial regulators 25 years ago - because we had never figured out that the key to financial stability was leaving felons in charge of the largest financial institutions in the world.
The kundalini flows upward. It also flows downward in different ways. It is quite complex, actually.
FinCEN directs financial institutions to file suspicious activity reports (SARs) to inform law enforcement of certain types of cyber-enabled crime. As the agency charged with protecting the United States from financial crime, FinCEN's guidance does not deem financial institutions who process such transactions to be involved in a criminal activity.
Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.
North and south must also adopt measures to arrest the growing phenomenon of illegal capital flight and the repatriation of illicit wealth siphoned abroad by corrupt political leaders and their collaborators back to their countries of origin.
It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.
Creativity can flourish within sensible financial limitations.
Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong.
The industry financial advisers, on average about 85% male, tends to be a more mature financial adviser - so I think in their 50s, really. For so many companies, in their 60s. In fact, there is one company that was telling me they had more financial advisers over the age of 80 than under the age of 30.
In a day and age of global competition and instantaneous financial flows, you have to be highly sensitive to the way in which tax policy impacts your overall competitiveness as a country.
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