When It Comes To Financial Matters: Do Women Need Special Handling?

The stories pour out by the bucketful, when it comes to financial planning and investing, “Women have different needs than men.” In an effort to upset as many marketing gurus and brokers as possible, I submit that there are far more similarities than differences and the differences are subtleties, not profound. That being said, the impact of those subtleties can be significant and profound. I have read countless articles pointing to the assertion that women’s needs are so different that truly only another woman can have the ability to meet those needs. While I will not argue the fact that there are differences- I don’t use my wife’s soap or razors- I find that there are far more similarities than differences…
When It Comes To Financial Matters Old Magazine

Sam: You have helped me wonderfully, My Dear.
Now,with your efficient organization, why don’t you help yourselves?

Fiji : Finance Company to Assist Women’s Groups

THE Ministry of Social Welfare, Women and Poverty Alleviation has established a Minister for Social Welfare, Women and Poverty Alleviation Dr Jiko Luveni partnership with Home Finance Company (HFC) which will assist local women groups in setting up businesses.

Minister for Social Welfare Dr Jiko Luveni said the partnership would make it easier for groups to back up financial needs by providing easier access to microfinance loans.

A statement from the ministry stated women’s groups may be given a $2000 loan to start-up and could reapply for another $5000 loan on a two-year term once the first loan was paid off.

She said women’s empowerment needed voices of influence…
Finance company to assist womens groups

A painting of Fijian women

 

Understanding Money at a Young Age

Jakarta:   Sandra Siagian discovers how youth financial literacy can lead to long-term success

….  “Women are overcoming barriers in every area of life, but can still lack financial empowerment,” she said.

“We teach girls and young women the basics of money management and entrepreneurship so they can lead a life of independence and success, on their own terms.

“As women gain a stronger footing in academia and in the corporate world, it is important that they have an understanding of finance, and related topics like income negotiations.”Understanding Money at a Young Age Understanding Money at a Young Age

FCA INVESTIGATING THREE MORE BANKS OVER MONEY LAUNDERING

Financial Services Authority

The FCA and its predecessor FSA fined a number of firms – in April, EFG Private Bank was fined £4.2m – and one person for failing to manage money laundering risk adequately. It also fined Turkish Bank (UK) Ltd £294,000, Habib Bank £542,500, including a £17,500 fine for its anti-money laundering supervisor and Coutts & Company £8.75 million.

In some cases, bank staff dismissed allegations about their customers and appeared to be overly close to high risk individuals, the regulator found.

Each year £10bn of illicit funds pass through the part of the financial services sector subject to money laundering regulations, according to Treasury estimates. This ‘regulated sector’ does not include mortgage brokers.

The FCA made the comments alongside the launch of its first annual report on anti-money-laundering.

According to FCA ML/FT risk issues that may affect regulated firms include:

  • Money laundering through trade in digital currencies
  • Alternative banking platforms (also known as a payment platform or virtual banks) based in jurisdictions with limited regulatory oversight
  • Cybercrime – that is the exploitation of vulnerabilities in private or public telecommunication networks through computer systems or mobile devices for criminal purposes – is another important growing risk.
  • The risk that the ‘money service business’ (MSB) sector may be used to launder money or finance terrorism

The fight against money laundering is often a thin line as too stringent enforcement could displace the money laundering risks to businesses operating outside the ‘regulated sector’ thereby playing into the hands of organized crime and money launders and cutting of the poorest and most vulnerable from the financial sector (financial intermediation)…
FCA AML Annual Report 2012 FCA INVESTIGATING THREE MORE BANKS OVER MONEY LAUNDERING

MONEY LAUNDERING SUSPECTS BLACKLISTED

Ratcheting up pressure on the Zetas, one of Mexico’s most ruthless drug trafficking organizations, the U.S. Treasury Department placed Kingpin Act sanctions on two Mexican nationals it said are are financial operatives for the Zetas drug cartel. They were added to a blacklist that freezes their assets and bars Americans from doing business with them.

The sanctions, announced Tuesday by the Treasury Department, came a week after Mexico captured the Zetas leader, Miguel Ángel Treviño Morales, and less than a year after its previous commander was killed. The two men added to the list, José Odilón Ramírez Perales and Ismael López Guerrero, are responsible for laundering and smuggling tens of millions of dollars, according to the Treasury Department’s Office of Foreign Assets Control. The office has sanctioned dozens of Zetas and scores of other drug traffickers in an effort to curtail their financing by denying them access to banks and financial services with links to the United States. Los Zetos Press Release  Guilty in Zetas Money Laundering Trial-2

MONEY LAUNDERING SUSPECTS BLACKLISTED

EU COMMISSIONER CALLS FOR TROIKA TO BE ABOLISHED

EU Justice Commissioner and vice-president of the European Commission, Viviane Reding calls for the “troika” of the European Commission, the European Central Bank and the International Monetary Fund (IMF) to be dissolved.

According to Reding “the time of the troika is over. Getting the IMF on board in recent years was an emergency solution. In future, we Europeans have to be able to resolve our problems on our own.”

The troika negotiates with countries in crisis, such as Greece, Portugal and Ireland, on austerity and reform measures they have to undertake in return for bailouts. It also supervises the implementation of such steps. Reding said European institutions could manage this without the IMF…
European Commission

EU COMMISSIONER CALLS FOR TROIKA TO BE ABOLISHED