Misery Loves Company, Know when to Excuse Yourself from the Company of Others

You will eventually learn to decline invitations to pity parties. Sometimes I listen to the plight of my colleagues. I actively listen and do not offer advice unless requested. My suggestions are oftentimes met with additional problems that results in a vicious cycle. I now excuse myself from toxic situations. We are all going through family issues, emotional issues and drama at our workplace. After a day at work, it is overwhelming to deal with the problems of friends. They do not seem to realize that it is further taxing on your already exhausted emotions. I have found that it helps to disconnect. You can remain available for one hour to communicate with others via social media, then take off your phone and recharge your emotions.

You will be of no use to yourself if you are spent all the time. Your performance at work may decline and you may even lose weight. Safe guard your emotions from vampires. They will drain you of your energy. Worst part is in your time of need, they are nowhere to be found. you have to know when to say good night and go home.

 

The author is an attorney at law in Trinidad. She specialises in Anti Money Laundering. See the website : http://asydneygroup.com .

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Go Forth and Meet your Destiny

You have to find your success. What are you passionate about ? Structure your passion with your profession. You will never work another day in your life. Money will follow. It may be hard in the early stages, but despise not the day of small beginnings. Keep your head up. The time has expired for waiting for someone else to make your dreams come true. This is your life. All failures and success in your life thus far are attributable solely to you. Find out what your strengths are. Work on your weaknesses. Become the best version of you possible. Things will fall in place. If you are single, at this time, enjoy it. Use the time to develop your skills. Get a hobby, work on a project, keep your hands busy. Ten years from now, you will laugh at the things that you endured.

Always remember that there is a younger person looking at you. You may be a role model for someone. It may  be your son, or sister or a neighbor. There will also be negative people awaiting your demise. Be determined to prove them wrong. Hold the vision, go forth and meet your destiny.

 

The author is an attorney at law in Trinidad. She specializes in Anti Money Laundering and Countering the Financing of Terrorism. See the website : http://asydneygroup.com , whats app only 868 484-7778 .

Beneficial Owners: UBO : The True Owners : Anti Money Laundering Compliance

”The natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a legal person or arrangement.”1
A lack of clarity over who is the ultimate beneficial owner of a company or asset clouds the ability of banks and financial institutions to carry out these checks effectively, leaving them exposed to facilitating corruption or bribery, or unwittingly funding illegal or terrorist activities. The regulatory cost of such activities can include large fines and personal prosecution for directors of financial institutions.2

Beneficial ownership identification and verification is now an essential component of the client KYC on boarding process.3
The beneficial owner is the natural person who controls an account or who exercises ultimate control over legal arrangement or who benefits from the transaction.
Although title to property or money is in another name, the beneficial owner will ultimately benefit from the transaction at the end of the day.

Why would an individual choose to be the beneficial owner?
i)Privacy-In Trinidad and Tobago, the Companies Registry and Deeds Registry are public records and the names and addresses of directors can be easily searched, once the relevant fees are paid. High net worth persons and famous persons may not want their home address available on public record.

ii)Asset Protection-Wealthy individuals who are exposed to lawsuits, divorces or those involved in Money laundering (ML) or Terrorist Financing (TF) may not want to be associated with bank accounts or assets. Funds in the bank accounts of persons suspected of Ml/TF may be seized in Trinidad.
Scandals involving Ultimate Beneficial Ownership

The Panama Papers were published in 2016. They were essentially archives of a Panamanian law firm. These archives revealed the beneficial ownership of several thousands of offshore corporations. It seems that some beneficial ownership was hidden for nefarious or illegal motives. 4
Unaoil, a Monaco-based firm registered in the British Virgin Islands and its subcontractors allegedly bribed foreign officials to help major multinational corporations (MNCs) win contracts. This type of corruption leads to political instability, undermines trust in governments and help terrorists. 5 There is a view that if companies dealing with Unaoil sought insight into beneficial ownership, legal name, tradestyle(s), organizational structure, parent companies, names of all principals/officers and industry.

The author is an attorney at law in Trinidad and Tobago and she specializes in Anti Money Laundering and the Financing of Terrorism . See the website http://asydneygroup.com and Instgram @asydneygrouptt WhatsApp 868 484-7778

References:
1https://www.lexisnexis.de/whitepaper/beneficial-ownership.pdf
2 https://www.lexisnexis.de/whitepaper/beneficial-ownership.pdf

3 http://www.dnb.com/content/dam/english/dnb-solutions/supply-management/UBO-guide-170515_US.pdf

4 https://www.investopedia.com/terms/b/beneficialowner.asp
5https://www.huffingtonpost.com/entry/unaoil-scandal-explained_us_56fbd2f0e4b0daf53aee0cff

Financing of Proliferation of Weapons of Mass Destruction

The threat of proliferation is significant and the consequences are severe. Proliferation has many guises but ultimately involves the transfer and export of technology, goods, software, services or expertise that could be used in nuclear, chemical or biological weapon-related programmes, including delivery systems; it poses a significant threat to global security1.
Proliferation may be defined as the transfer and export of nuclear, chemical or biological weapons; their means of delivery and related materials.2 This could include, inter alia, technology, goods, software, services or expertise. Means of delivery include missiles, rockets and other unmanned systems capable of delivering nuclear, chemical or biological weapons that are specially designed for such use.
What is Proliferation Financing?
The provision of financial services for the transfer and export of nuclear, chemical or biological weapons; their means of delivery and related materials.
With respect to the Financing of Proliferation, the following deficiencies were noted by the Assessor in Trinidad and Tobago:
There does not appear to be a comprehensive policy or the completion of such a policy as it relates to the financing of the proliferation of Weapons of mass Destruction in Trinidad and Tobago;
The framework for targeted sanctions related to Terrorist Financing needs to be reviewed;
The sanctions and prohibitions are in respect of freezing funds are not covered in the Anti Terrorism Act;
There is no comprehensive policy on the proliferation of financing of weapons of mass destruction and there is no adequate legislation on this issue;
There does not appear to be a thorough appreciation of the risk of Terrorist Financing amongst the relevant authorities;
There are inadequate resources to effectively investigate and prosecute Terrorist Financing.
References:
1 http://www.fatfgafi.org/media/fatf/documents/reports/Typologies%20Report%20on%20Proliferation%20Financing.pdf
2 S/RES/1540 (2004)
3 http://www.fatfgafi.org/media/fatf/documents/reports/Typologies%20Report%20on%20Proliferation%20Financing.pdf

 

The author is an attorney at law based in Trinidad. She specialises in AML CFT .

See website : http://asydneygroup.com

Whatsapp 484-7778