INTERNATIONAL LAW Coursework Example | Topics and Well Written Essays - 2500 words

INTERNATIONAL LAW - Coursework Example funds wash is a phenomenon whereby individuals endeavour to reintroduce illicitly acquired property into the legitimate cash flow channels. This dickhead money is usually sourced from predicating activities that are of criminal nature, such as the ones highlighted above. depravation on its part encompasses a wide range of activities, particularly those that afford private benefit to an individual, arising from a misuse of public authority. Corruption can in itself be, and usually is, a predicating criminal activity for money laundering. Owing to the international lineament of these two crimes, international efforts such as Financial Action Task Force on funds Laundering (FATFML) and the United Nations Convention Against Corruption (UNCAC) have sprung to combat each of these criminal activities. In the consequent section, the risk of corruption and money laundering will be assessed, alongside the effectiveness of international efforts. The antedate section will evaluate the UK bribery Act of 2010, and assesses its impact on UK companies attempting to conduct their businesses abroad.Money laundering and corruption are two of the most formidable threats to economic development and progress both in developed and developing nations. They have consequently attracted much attention from international bodies and agencies such as the worldly concern Bank and Transparency International. Money laundering can be understood as a exhibit through which the origins of illicitly acquired money are obscured. It normally involves the washing or cleansing of illegally acquired money through individuals or organisations, to portray the money as legitimately acquired (Gonzalez-Perez & Leonard, 2013). It is predicated by an offence that introduces money into the detainment of offenders. Such offences may include criminal