The opening chapter explores the paradox of a Russian bourgeoisie emerging out of the Soviet elite. It deals with the ways in which these individuals navigated the years of post-Soviet social transformation. Many of the characters in this book were born into socially privileged, highly educated, nonmoneyed Soviet elite. Some used their science vocations and leadership positions in the Komsomol to launch their business careers, exploiting their insider status to gain access to the corridors of power and to foreign-currency bank accounts. While it did help in the climate of the 1990s to be aggressive, wily, and not overly principled, it was more important to have privileged social origins. The new rich used the social assets they had to hand, were quick to recognize which parts of their expertise and skill sets were of no further value in the turmoil, and realigned their resources accordingly.
Little is known about the work of the Claims Resolution Tribunal for Dormant Accounts in Switzerland. Once the existence of dormant Holocaust era bank accounts was publicly acknowledged by the Swiss banks in 1997, the problem required resolution. This Tribunal was therefore created to establish ownership of the dormant accounts. The Claims Resolution Tribunal operates very much behind closed doors and its decisions have not been open to academic scrutiny and are unlikely to be available until the entire process is completed. Whilst justice may never be done for those carrying the monstrous legacy of the Holocaust, it is important to examine whether the Claims Resolution Tribunal is in fact righting the wrong done in respect of those who have struggled with the Swiss banks for many years to claim what is rightfully theirs. This article seeks to do this by scrutinising the inner workings of the Claims Resolution Tribunal and the various steps which a claimant must go through before his claim, is, if at all, accepted as valid. The experience of the Claims Resolution Tribunal in relation to Holocaust accounts and its role in the context of the various Holocaust era processes currently in the international arena is also examined in order to appraise its effectiveness as a means of belatedly doing justice.
The article highlights the progress of international taxation in the fight against the concealment of income in offshore jurisdictions and exposes the lights and shadows of the current legal framework for the exchange of information on bank accounts. The author examines the major problems of international taxation and how corporations avoid paying taxes in their jurisdictions and how it affects the financial sphere. The article studies bank secrecy with its harmful aspects and develops the solution to resolve the current issues. As a conclusion, the author focuses on cooperation between tax administrations and the positive outcomes from transparency and information exchange measures on the international taxation.
<p>The aim of this paper is to empirically analyze the effect of the economic reforms on the bancarisation rate in the Central Africa Economic and Monetary Community (CEMAC). Data of six countries from the sub-region from 2001 to 2011 was used in a generalized method of moment (GMM) modeling framework. The following results are obtained: Financial liberalization has facilitated the opening of bank accounts. The opening of bank accounts demand is an increasing function of Gross Domestic Product per capita. The literacy rate contributes to the improvement of financial and banking services. Public and private infrastructures promote decentralization and delocalization of the banking network to smaller cities and rural areas. Institutional reforms work best for increasing the bancarisation rate where financial and banking activities are weak. So, the economic policy to be implemented is to continue the economic and financial reforms and ameliorate the quality of the institutions in the CEMAC region.</p>
The article deals with peculiarities that must be taken into account while conducting forensic economic examinations connected with studying financial and credit transactions with the use of electronic money. Electronic money is a monetary obligation of the issuer in an electronic form that is stored on an electronic medium in the user’spossession. This medium can be a microprocessor card, the user’s computer, a server of the electronic money clearance system where the user’s electronic money is stored, etc. In the electronic money clearance systems bank accounts are used only when the money is debited or withdrawn from the system. At the same time these bank accounts are the issuer’s and not the user’s accounts. When electronic money is issued the user’s traditional money is debited to the issuer’s bank account. When the electronic money is used in payment, traditional money is written off the issuer S bank account and is paid to the bearer. The article provides a list of normative and legislative acts regulating the main aspects of conducting the studies.
Mobile and handheld devices are becoming an integral part of people’s work, life and entertainment. These lightweight pocket-sized devices offer great mobility, acceptable computation power and friendly user interfaces. As people are making business transactions and managing their online bank accounts via handheld devices, they are concerned with the security level that mobile devices and systems provide. In this chapter we will discuss whether these devices, equipped with very limited computation power compared to full-sized computers, can make equivalent security services available to users. We focus on the security designs and technologies of hardware, operating systems and applications for mobile and handheld devices.
Rule 53 defines, for the infringement counterclaim, the obligation stated in Art 70 UPCA for the parties to pay Court fees. It does so in obliging the defendant and claimant of the infringement counterclaim to pay a fixed fee. The amount of that fee is determined by Rule 370.2(a) in the amount of €11,000. Pursuant to Rule 371.1, the fee must be paid before bringing the action (for exceptions from this requirement, → Rule 371 UPCARoP) by transmitting the amount to one of the bank accounts of the UPC indicating the paying party or its representative together with the number of the patent involved and the number of the case. Proof of payment must be provided together with the relevant pleading or application pursuant to Rule 371.2.
Corruption is an international undertaking. A global cast of enablers, including oil-rich players from Abu Dhabi and Saudi Arabia, Caribbean letterbox companies, banks in Switzerland and Singapore, American real estate agents, and the giant investment bank Goldman Sachs, helped an ambitious young Malaysian businessman capture and spend over $4 billion in just a few years. Most oil boom corruption cases followed roughly the same playbook: spirit away illicit funds via offshore shell companies and bank accounts and then sink them into foreign property, businesses, luxury goods, and public relations campaigns. Through these channels, corrupt money and its destabilizing influence spread around the world.
Do Economic Reforms Spur Bancarisation Rate in the CEMAC Region? Empirical Analysis