Ethics and governance in the European Financial centers

The Canadian Centre for ntelligence and Security Studies, The Norman Paterson chool of International Affairs, Carleton University published a very interesting article on the topic "Terrorism Financing and Financial System Vulnerabilities: Issues and Challenges".
Terrorist activities require access to funds at all stages of planning preceding an attack. The paper reviews the fraudulent acquisition of funds by terrorists and the potential vulnerabilities of our financial system.

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Stanley Sienkiewicz published a paper to discuss the potential money laundering threat that prepaid cards face as they enter the mainstream of consumer payments. Over the past year, several government agencies have issued reports describing the threat to the U.S. financial system, including the use of prepaid cards by money launderers. Also, this paper incorporates the presentations made at a workshop hosted by the Payment Cards Center at which Patrice Motz, executive vice president, Premier Compliance Solutions, and Paul Silverstein, executive vice president, Epoch Data Inc., led discussions. These two leading anti-money laundering strategists explained how money laundering occurs in financial payments and how firms can mitigate and detect money laundering activities. This paper provides an overview of money laundering, describes how prepaid cards could be abused, and outlines how both the government and the payment sectors have responded to mitigate risks.

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