Aligning anti-money laundering, combating of financing of terror and financial inclusion : Questions to consider when FATF standards are clarified

Purpose &ndash; The purpose of this paper is to identify key questions that should be addressed to enable the Financial Action Task Force (FATF) to provide guidance regarding the alignment of anti-money laundering, combating of financing of terror and financial inclusion objectives.Design/methodology/approach &ndash; The paper draws on relevant research and documents of the FATF to identify questions that are relevant to consider when it formulates guidance regarding the alignment between financial integrity and financial inclusion objectives.Findings &ndash; The FATF advises that its risk-based approach enables countries and institutions to further financial inclusion. It is, however, not clear what the FATF means when its uses the terms &ldquo;risk&rdquo; and &ldquo;low risk&rdquo;. It is also unclear whether current proposals for financial inclusion regulatory models will necessarily limit money laundering (ML) aswell as terror financing risks to levels that can be described as &ldquo;low&rdquo;. The FATF will need to clarify its own thinking regarding low money laundering and low terror financing risk before it will be able to provide clear guidance to national regulators and financial institutions.Originality/value &ndash; This paper was drafted to inform current FATF discussions regarding guidance on financial inclusion. The questions are relevant to all stakeholders in financial regulation.<br /

The determination of energy transfer rates in the Ho:Tm:Cr:YAG laser material

Energy transfer processes occurring between atomic, ionic, or molecular systems are very widespread in nature. The applications of such processes range form radiation physics and chemistry to biology. In the field of laser physics, energy transfer processes have been used to extend the lasing range, increase the output efficiency, and influence the spectral and temporal characteristics of the output pulses of energy transfer dye lasers or solid-state laser materials. Thus in the development of solid state lasers, it is important to investigate the basic energy transfer (ET) mechanisms and processes in order to gain detailed knowledge so that successful technical utilization can be achieved. The aim of the present research is to measure the ET rate from a given manifold associated with the chromium sensitizer atom to a given manifold in the holmium activator atom via the thulium transfer atom, in the Ho:Cr:YAG laser material

Three Essays on Data-Driven Optimization for Scheduling in Manufacturing and Healthcare

This dissertation consists of three essays on data-driven optimization for scheduling in manufacturing and healthcare. In Chapter 1, we briefly introduce the optimization problems tackled in these essays. The first of these essays deals with machine scheduling problems. In Chapter 2, we compare the effectiveness of direct positional variables against relative positional variables computationally in a variety of machine scheduling problems and we present our results. The second essay deals with a scheduling problem in healthcare: the team primary care practice. In Chapter 3, we build upon the two-stage stochastic integer programming model introduced by Alvarez Oh (2015) to solve this challenging scheduling problem of determining patient appointment times to minimize a weighted combination of patient wait and provider idle times for the team practice. To overcome the computational complexity associated with solving the problem under the large set of scenarios required to accurately capture uncertainty in this setting, our approach relies on a lower bounding technique based on solving an exhaustive and mutually exclusive group of scenario subsets. Our computational results identify the structure of optimal schedules and quantify the impact of nurse flexibility, patient crossovers and no-shows. We conclude with practical scheduling guidelines for team primary care practices. The third essay deals with another scheduling problem observed in a manufacturing setting similar to first essay, this time in aerospace industry. In Chapter 4, we propose mathematical models to optimize scheduling at a tactical and operational level in a job shop at an aerospace parts manufacturer and implement our methods using real-life data collected from this company. We generalize the Multi-Level Capacitated Lot-Sizing Problem (MLCLSP) from the literature and use novel computational techniques that depend on the data structure observed to reduce the size of the problem and solve realistically-sized instances in this chapter. We also provide a sensitivity analysis of different modeling techniques and objective functions using key performance indicators (KPIs) important for the manufacturer. Chapter 5 proposes extensions of models and techniques that are introduced in Chapters 2, 3 and 4 and outlines future research directions. Chapter 6 summarizes our findings and concludes the dissertation

Personas con parálisis cerebral generan sus oportunidades de empoderamiento a través de la participación en la comunidad: un reto personal y colectivo

Tienen en sus manos los resultados de la investigación cualitativa“La integralidad de la vida de tres personas con parálisiscerebral” cuyo objetivo principal es dimensionar estaintegralidad, sus protagonistas son dos hombres y una mujeradultas con parálisis cerebral, de Estelí, Nicaragua, ex estudiantesdel Centro Juvenil Los Pipitos

Identifying and managing low money laundering risk : perspectives on FATF\u27s risk-based guidance

Purpose &ndash; The purpose of this paper is to investigate Financial Action Task Force (FATF)\u27s risk-based guidance to combat money laundering and terrorist financing to determine its approach to the identification and management of low-risk providers, products and transactions. Design/methodology/approach &ndash; The paper analyses the relevant FATF recommendations and its guidance notes and reflects on key questions for regulators and financial institutions. Findings &ndash; FATF has not defined &ldquo;risk&rdquo; for purposes of the risk-based approach. The absence of a clear definition complicates the identification of low-risk products. FATF do provide an example of a risk matrix that can be used to identify low-risk banks, but the example is based on assumptions and generalisations that are not sustainable. In addition, it identifies certain low-value transactions as &ldquo;low risk&rdquo; transactions. The paper reflects on the role of value as an indicator of risk and concludes with a number of suggestions to clarify the conceptual framework. Originality/value &ndash; Low-risk products and transactions are often overlooked because the risk-based approach focuses attention on high-risk matters. Low-risk products are however crucial to the efforts to increase financial inclusion. The paper identifies gaps in the current conceptual framework and indicates ways in which they can be addressed.<br /

The 2012 Revised FATF Recommendations: Assessing and Mitigating Mobile Money Integrity Risks Within the New Standards Framework

Mobile money holds great financial inclusion promise, but also poses financial integrity challenges. The Financial Action Task Force (FATF)&mdash;the intergovernmental global anti-money laundering (AML) and counter-terrorist financing (CTF) standard-setting body&mdash;expressed support for financial inclusion and mobile money as a means to decrease the use of non-transparent cash in many developing countries. In February 2012, FATF adopted a new revised set of standards. This Article considers the impact of these new standards on mobile money models in developing countries. It highlights aspects of the new standards that would facilitate innovative mobile money models, but also points to questions and challenges. The new standards are generally more facilitative of new financial services models for the unbanked and underbanked, but a number of key questions and implementation challenges remain. These include mobile money-related privacy and cyber-crime concerns