Customer Due Diligence and Its Role To Prevent The Global Economic Threat: Indonesian Anti Money Laundering Perspectives

Money laundering and financing of terrorism is one of the global threats which may occur problems for the economics of the world. The effect of Money Laundering and financing of terrorism have been manifested in the life of the nations. According to its characteristic as a transnational crime, Money laundering and financing of terrorism have been a major concern of all the countries and law enforcement agents. In this situation, law shall be a major instrument to tackle money laundering and financing of terrorism, but Customer Due Diligence and Enhance Due Diligence plays a great part to prevent money laundering and other variant of crime. The effective and efficient measure to recognize the customer who has a suspicious character of money laundering and financing of terrorism is using the method of knowing correctly and precisely their customer’s profile. Customer Due Diligence is the first resort which may operate as the first procedure which should be taken by all Financial Services Provider and also Goods and Services Providers. As a tool, Customer Due Diligence should be followed by the professionalism and awareness of the parties involved, such as bank and goods and service providers, since it is not easy to recognize the money laundering and also financing of terrorism. The presence of Law Number 8 of 2010 of Republic of Indonesia actually tries to strengthen the implementation of the Principle of Know Your Services Users or also known as the Know Your Customer Principle

National Holiday

Postcard from Rachel Go, during the Linfield College Semester Abroad Program at The China Studies Institute hosted at Peking University in Beijing, Chin

Novel Preaching: Tips from Top Writers on Crafting Creative Sermons

Title: Novel preaching: tips from top writers on crafting creative sermons. Author: Alyce M McKenzie. Publisher: Louisville, Ky.: Westminster John Knox Press, ©2010. ISBN: 978066423322

Prophetic Preaching: A Pastoral Approach

Title: Prophetic preaching : a pastoral approach. Author: Leonora Tubbs Tisdale. Publisher: Louisville, Ky. : Westminster John Knox Press, ©2010. ISBN: 978066423332

European sovereign debt crisis and linkage of long-term government bond yields

Based on the robust cross-correlation function approach developed by Hong (2001),　this paper investigates the causality-in-mean and the causality-in-variance of long-term bond yields in seven countries including “PIIGS†(Portugal, Ireland, Italy, Greece, and Spain), Germany, and France. A main contribution of the study is to assess the impacts of the recent European sovereign debt crisis on relationships of the bond yields. We find some evidence of the mean spillover effects, especially from Portugal and France before the crisis and from Portugal and Italy after the crisis. In contrast, the variance spillover effects from Germany interestingly strengthened through the debt crisis in particular despite the apparent lack of its mean transmission effects, whilst major sources of volatility spillover effects had been Portugal and France prior to the crisis.Volatility spillover, European sovereign debt crisis

Observation of Bell Inequality violation in B mesons

A pair of $B^0\bar B^0$ mesons from $\Upsilon(4S)$ decay exhibit EPR type non-local particle-antiparticle (flavor) correlation. It is possible to write down Bell Inequality (in the CHSH form: $S\le2$) to test the non-locality assumption of EPR. Using semileptonic $B^0$ decays of $\Upsilon(4S)$ at Belle experiment, a clear violation of Bell Inequality in particle-antiparticle correlation is observed: S=2.725+-0.167(stat)+-0.092(syst)Comment: Conference Proceeding for Garda Lake Workshop 2003 "Mysteries, Puzzles and Paradoxes in Quantum Mechanics

Adaptively truncated Hilbert space based impurity solver for dynamical mean-field theory

We present an impurity solver based on adaptively truncated Hilbert spaces. The solver is particularly suitable for dynamical mean-field theory in circumstances where quantum Monte Carlo approaches are ineffective. It exploits the sparsity structure of quantum impurity models, in which the interactions couple only a small subset of the degrees of freedom. We further introduce an adaptive truncation of the particle or hole excited spaces, which enables computations of Green functions with an accuracy needed to avoid unphysical (sign change of imaginary part) self-energies. The method is benchmarked on the one-dimensional Hubbard model.Comment: 10 pages, 7 figure

Revenue uncertainty and the choice of tax instrument during the transition in Eastern Europe

The author examines the eroding tax base facing transitional economies by employing a framework that allows risk factors in assessing tax instruments. In an uncertain world, the author asks, which tax instruments should be used? The author examines Eastern Europe's revenue problem, including the implications for public revenue of different causes of uncertainty - and investigates which taxes are"better"at generating revenue. The author defines a"better"tax as one that has greater stability in a risky environment (that is, less variation in generating a target revenue) and has the least adverse impact on the economy (for example, on consumption). The author employs the framework to explain much of the output and revenue fall in transitional economies. The term-or-trade shocks from the collapse of the CMEA trade as well as the rigid but uncertain economic responses in transitional economies are all important factors. The results of the authors modelindicate that import tariffs are more effective than other traditional tax instruments in raising revenue, especially if real revenue is defined in dollar terms (the price anchor). The contraction in domestic output and prices and the devaluation of the real exchange rate needed in the transition are significant reasons that favor imports as a tax base over other revenue sources. To emphasize the transitory nature and reversibility of the policy recommendation, import tariffs should be implemented in the form of a temporary uniform import surcharge. This conclusion seems to hold whether the government formulates tax policy with correct or incorrect expectations. But the choice of revenue target matters. All tax instruments will do almost equally well if the commonly used tax-to-Gross Domestic Product ratio is the target. But it is a misleading measure since the ratio does not reflect the immense erosion of domestic tax bases in the economy and how real revenue in absolute level may actually be decreasing rapidly as a result. The revenue decline and uncertainty can also be viewed as a necessity toward downsizing the large state sector and in redirecting trade away from former nonmarket partners. The results emphasize that restoring revenue should never lead to maintaining subsidies toward nonprofitable state enterprises or other public spending no longer relevant in market system. Doing so will only lead to unreasonably high taxation. No less important is moving assets out of collapsing sectors, privatizing them, and making them productive again.Public Sector Economics&Finance,Banks&Banking Reform,Municipal Financial Management,Environmental Economics&Policies,Economic Theory&Research