BUSINESS LAW – UNIT 11

WORLD BANKING SYSTEM IS A ‘MONEY LAUNDERERS’ DREAM’

Money laundering – fulis gaTeTreba, fulis legalizeba

‘Megabyte money’ = money which is moved around by computer – cashless transactions, electronic trading and

computerised clearing

Crooked = dishonest or illegal

Undercover = secret, covert; saidumlo, gadacmuli, SeniRbuli

Suspect – eWvmitanili

To lure = to tempt or attract by the promise of some type of reward

Alleged – eWvmitanili

Cartel = a group of similar independent companies who join together to control prices and limit competition

Seizure warrant – konfiskaciis orderi

To strike a blow – dartymis miyeneba

The Americas or America, are lands in the Western hemisphere, also known as the New World.

In the English language, the Americas refers to the landmasses of North America and South

America with their associated islands and regions, whereas America, in current usage, usually

refers to the United States of America.

To edit – redaqtireba, dasabeWdad momzadeba

Conservative estimate /ˈestɪmət/ – mokrZalebuli gamoTvla

Vintage – baraqiani, saukeTeso (vintage car – klasikuri manqana)

Ill-gotten = obtained dishonestly or illegally; ukanonod naSovni

Cashless = functioning, operated, or performed without using coins or banknotes for money transactions but

instead using credit cards or electronic transfer of funds; unaRdo

Clearing (a check) = processing a check so that funds are deducted from the payer's account and put into the

payee's account

Clearing bank = a commercial bank that is part of a network of banks that can clear checks for its clients

regardless of whether or not the check originates from the same commercial bank.

Wire transfer = an electronic transfer of funds. Wire transfers typically transfer money from one bank account

to another; fulis eleqtronuli gadaricxva

Volume of transactions – gadaricxvebis moculoba

Aggregate /ˈægrɪgət/ = total and combined

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Settlement = payment of money that is owed

Complicity – Tanamonawileoba

Corrupted – mosyiduli

To ensure = to make certain or sure; guarantee

Law enforcement officers – kanon aRmsrulebeli oficrebi

Have sth on one’s side – upiratesobis qona

In progress = taking place; under way

They risk discovery = they are in danger of discovery

Offshore = based or operating abroad in places where the tax system is more advantageous than that of the home

country

Lax = lacking firmness; not strict; susti, ara mkacri, daudevari

To disguise – SeniRbva

Shell company = non-trading firm formed (and often listed on a stock exchange) as a vehicle to (1)

raise funds before starting operations, (2) attempt a takeover, (3) for going public, or (4) as

a front (safari) for an illegal business.

Trust company = a commercial bank or other enterprise organized to perform trustee functions

Offshore trust = that is established in a jurisdiction different from where the trustor is domiciled.

Beneficiary = a person entitled to receive funds or other property under a trust, will, or insurance policy

Walking account = an account that can be easily moved at the first sign of any official enquiries

Standing – mudmivi, ucvleli

Tax avoidance – gadasaxadebisTvis Tavis arideba

Capital transfer = moving large amounts of money from one place to another

Infiltration = to gain entrance or access surreptitiously

Illicit = illegal

Nefarious = evil; wicked; sinful; arapatiosani, unamuso

Due diligence investigation – kompaniis finansuri mdgomareobis saimedoobis gamoZieba

Bulk cash – didi raodenobis Tanxa

Gambling chips = tokens (Jetoni) for playing in casinos

Lenient /ˈliːniənt/ = not as severe or strong in punishment or judgment as would be expected

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