Match-fixing and Money-laundering

his essay is premised on the following: a conspiracy to fix or otherwise manipulate the outcome of a sporting event for profitable purpose. That conspiracy is in turn predicated on the conspirators’ capacity to: (a) ensure that the fix takes place as pre-determined; (b) manipulate the betting markets that surround the sporting event in question; and (c) collect their winnings undetected by either the betting industry’s security systems or the attention of any national regulatory body or law enforcement agency.

Unlike many essays on this topic, this contribution does not focus on the “fix”– part (a) of the above equation. It does not seek to explain how or why a participant or sports official might facilitate a betting scam through either on-field behaviour that manipulates the outcome of a game or by presenting others with privileged inside information in advance of a game. Neither does this contribution seek to give any real insight into the second part of the above equation: how such conspirators manipulate a sports betting market by playing or laying the handicap or in-play or other offered betting odds. In fact, this contribution is not really about the mechanics of sports betting or match fixing at all; rather it is about the sometimes under explained reason why match fixing has reportedly become increasingly attractive as of late to international crime syndicates. That reason relates to the fact that given the traditional liquidity of gambling markets, sports betting can, and has long been, an attractively accessible conduit for criminal syndicates to launder the proceeds of crime. Accordingly, the term “winnings”, noted in part (c) of the above equation, takes on an altogether more nefarious meaning.

This essay’s attempt to review the possible links between match fixing in sport, gambling-related “winnings” and money laundering is presented in four parts.

First, some context will be given to what is meant by money laundering, how it is currently policed internationally and, most importantly, how the growth of online gambling presents a unique set of vulnerabilities and opportunities to launder the proceeds of crime. The globalisation of organised crime, sports betting and transnational financial services now means that money laundering opportunities have moved well beyond a flutter on the horses at your local racetrack or at the roulette table of your nearest casino. The growth of online gambling platforms means that at a click it is possible for the proceeds of crime in one jurisdiction to be placed on a betting market in another jurisdiction with the winnings drawn down and laundered in a third jurisdiction and thus the internationalisation of gambling-related money laundering threatens the integrity of sport globally.

Second, and referring back to the infamous hearings of the US Senate Special Committee to Investigate Organised Crime in Interstate Commerce of the early 1950s, (“the Kefauver Committee”), this article will begin by illustrating the long standing interest of organised crime gangs – in this instance, various Mafia families in the United States – in money laundering via sports gambling-related means.

Third, and using the seminal 2009 report “Money Laundering through the Football Sector” by the Financial Action Task Force (FATF, an inter-governmental body established in 1989 to promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system), this essay seeks to assess the vulnerabilities of international sport to match fixing, as motivated in part by the associated secondary criminality of tax evasion and transnational economic crime.

The fourth and concluding parts of the essay spin from problems to possible solutions. The underlying premise here is that heretofore there has been an insularity to the way that sports organisations have both conceptualised and sought to address the match fixing threat e.g., if we (in sport) initiate player education programmes; establish integrity units; enforce codes of conduct and sanctions strictly; then our integrity or brand should be protected. This essay argues that, although these initiatives are important, the source and process of match fixing is beyond sport’s current capacity, as are the possible solutions.

Oil and Dependency::The Case of Kazakhstan

Following the collapse of the Soviet Union in 1991, the newly independent oil-rich country of Kazakhstan has become a major recipient of foreign direct investment (FDI). Although international organisations such as the IMF and UNCTAD have claimed that FDI could be considered an engine in the transition from state socialism and as a powerful force for integration of this region into the global economy; this investment also poses significant risks to Kazakhstan. These risks fall into two broad categories: The first category can be broadly described as issues associated with the “resource curse” or the “Dutch Disease”. The term Dutch Disease describes a situation where booming demand in oil exporting countries, due to high oil revenues, leads to shift of an economy’s productive resources from the tradeable sector to the non-tradeable sector. The second category is associated with the over-dependency of oil exporting countries on a relatively small number of large multinational corporations (MNCs). This over-dependency can lead to a situation where licenses and concessions are granted at less favourable conditions than if they were auctioned in an efficient market. Examining the licensing policy of the Kazakhstani Energy and Mineral Resource Ministry, this paper notes that the latter issue of over-dependency has become less of a risk due to deliberate efforts to diversify investment relationships. Notwithstanding this situation there is some evidence that it remains difficult for oil exporting nations such as Kazakhstan to ensure that oil revenues are channelled into sustainable economic development.

Willingness to pay for potential enhancements to a low-cost cataract surgical package in rural southern China.

PURPOSE: To assess determinants of patients' willingness to pay (WTP) for potential components of a multi-tiered cataract surgical package offered by a non-governmental organization (NGO) in rural China. DESIGN: Cross-sectional study. METHODS: Demographic and clinical data were collected from 505 patients presenting for cataract screening or surgery in Yangjiang, China. Willingness to pay for potential enhancements to the current surgery package was assessed using a bidding format with random payment cards. RESULTS: Among 426 subjects (84.4%) completing interviews, the mean age was 73.9 ± 7.3 years, 67.6% were women and 73% (n = 310) would pay for at least one offering, with 33-38% WTP for each item. Among those who would pay, the mean WTP for food was US$1.68 ± 0.13, transportation US$3.24 ± 0.25, senior surgeon US$50.0 ± 3.36 and US$89.4 ± 4.19 for an imported intra-ocular lens (IOL). The estimated total recovery from these enhancements under various assumptions would be US$20-50 (compared to the current programme price of US$65). In multivariate models, WTP for the senior surgeon increased with knowledge of a person previously operated for cataract (OR = 2.13, 95% CI 1.42-3.18, p < 0.001). Willingness to pay for the imported IOL increased with knowledge of a previously operated person (OR = 1.85, 95% CI 1.24-2.75, p < 0.01) and decreased with age >75 years (OR = 0.61, 0.40-0.93, p < 0.05). CONCLUSIONS: Opportunities exist to increase cataract programme revenues through multi-tiered offerings in this setting, allowing greater subsidization of low-income patients. Personal familiarity with cataract surgery is important in determining WTP. © 2011 The Authors. Acta Ophthalmologica © 2011 Acta Ophthalmologica Scandinavica Foundation.

A influência do terrorismo nos comportamentos de viagem internacionais

A partir de uma amostra de 600 turistas internacionais que circulam em Portugal, Espanha e Itália, este estudo identifica as principais os conceitos chave relacionados com o terrorismo, a percepção de risco, envolvimento e motivação para a segurança dos turistas internacionais. Diferentes níveis de preocupação relativamente à segurança pode influenciar as decisões dos turistas. No seu processo de decisão, os turistas avaliam vários factores, nomeadamente, o nível de risco ou de segurança que consideram nos destinos (Sonmez, 1998). Os turistas adoptam uma atitude protectora alterando os seus comportamentos durante os processos de decisão, substituindo os destinos que consideram inseguros por outros associados a uma maior segurança (Gu & Martin, 1992; Mansfeld, 1996). O terrorismo exacerbado pelos media tem efeitos graves nas receitas dos destinos turísticos (Taylor, 2006). Através da publicidade negativa, um destino turístico que experiencia um incidente terrorista pode ver a sua reputação danificada e a actividade turística severamente comprometida (Sonmez, 1998). Inclusivamente, a imageme negativa de um destino pode ser generalizada e pode também afectar outros países ou regiões por períodos de tempo indeterminados (Taylor, 2006). Um modelo de equações estruturais revela que os turistas são motivados para adquirir informação sobre o terrorismo nos media, nomeadamente mostram atenção e interesse sobre essas notícias e esse facto influencia directamente o seu risco percebido. A percepção de risco influencia directamente o envolvimento dos turistas no planeamento da viagem, especificamente a procura de informação antes da viagem e quando estão no destino. A percepção de risco e o envolvimento dos turistas influencia a percepção da importância da segurança.A discussão foca as implicações deste modelo para a teoria e para as instituições e organizações turísticas. São igualmente apresentadas recomendações para os gestores e promotores dos destinos e para os gestores das organizações turísticas. Direcções futuras de investigação são igualmente apresentadas.

Strategic management in the Telecom industry to create competitive advantage

O presente trabalho teve por objetivos a identificação de uma estratégia e o desenvolvimento de um modelo que permita às operadoras de telecomunicações a sua sustentabilidade, bem como a identificação de caminhos para a adaptação a uma realidade sempre em mudança como é a da indústria das telecomunicações. Numa primeira parte do trabalho elaborou-se uma revisão de literatura do atual estado da arte das principais estratégias relevantes e com aplicação à indústria de telecomunicações. A pesquisa realizada investigou a estrutura atual da indústria de telecomunicações e o estado da competitividade das operadoras de telecomunicações. Dos resultados desta foi possível constatar uma evolução constante da tecnologia e dos modelos de negócio neste ecossistema, assim como a presença de uma pressão concorrencial significativa exercida sobre as operadoras, quer por parte das empresas já existentes no mercado quer por parte das emergentes. As operadoras têm de transformar o seu modelo de rede e de negócios para se adaptarem às mudanças e às tendências da indústria e do mercado. Com base na revisão de literatura, elegeu-se a metodologia baseada num inquérito de pesquisa empírica para aferir o estado da indústria e derivar as estratégias possíveis. Este inquérito foi efetuado a especialistas da área de telecomunicações de diferentes subsectores e países para abordar todos os elementos estratégicos do modelo de negócio futuro. Os resultados da pesquisa revelaram que as empresas que operam no mercado da Internet (Over The Top - OTT) representam a maior ameaça sobre o futuro dos operadores de telecomunicações. Os operadores só vão conseguir responder através da modernização de sua rede, melhorando a qualidade, reduzindo o custo global, e investindo em produtos inovadores e diferenciados e em serviços. Os resultados do inquérito revelam-se de acordo com os pressupostos da Blue Ocean Strategy. A aplicabilidade da Blue Ocean Strategy foi aprofundada permitindo concluir que o valor inovador obtido simultaneamente através da redução de custos e da diferenciação permitem aumentar as vantagens dos operadores existentes em termos das infra-estruturas físicas detidas e das relações estabelecidas com os clientes. O caso particular da fibra óptica até casa (FTTH) foi considerado como aplicação da Blue Ocean Strategy a uma nova tecnologia que as operadoras podem implementar para criar novas soluções e abrir segmentos de mercado inexplorados. Os resultados do inquérito e da investigação realizada à aplicação da Blue Ocean Strategy foram combinados para propor um novo modelo de negócio para as operadoras de telecomunicações que lhes permite, não só responder aos desafios existentes, mas, também, ter uma melhor posição competitiva no futuro. Foi, ainda, realizado um estudo de caso que destacou como a Verizon Communications foi capaz de transformar a sua rede e o modelo de negócio em resposta ao aumento da pressão competitiva. Através do valor da inovação transferida aos seus clientes, a Verizon foi capaz de aumentar significativamente as suas receitas e satisfação do cliente.

Dinâmicas territoriais geradas pelo investimento privado no turismo

A importância económica, social e política do setor do turismo é uma realidade inquestionável. A sua expressão e capacidade de induzir o desenvolvimento económico em termos de outros setores, é cada vez mais importante. Apesar da dinâmica demonstrada, o setor do turismo enfrenta uma série de problemas estruturais que devem ser resolvidos. Nos últimos anos, o turismo em Portugal tem vindo a crescer em quantidade, mas às vezes sem muita qualidade. O desempenho económico do setor deve ser devidamente analisado, desde a análise do número de entradas de visitantes até questões como o volume de receitas obtido. Para além disso, é possível observar a existência de casos de concentração espacial excessiva em certas áreas do território. A política de turismo precisa de dimensão, de ser forte, bem estruturada e orientada. "Esta política deve promover sinergias entre redes de diferentes atores para criar uma base sólida de segurança e confiança para o investimento privado." (Costa, 2000) É importante avaliar o investimento e o sistema de financiamento no setor do turismo, para entender a filosofia e os objetivos que norteiam todo o sistema (política estratégica) e as dinâmicas territoriais e setoriais das empresas do turismo.

A tomada de decisão e o envolvimento no jogo em doentes com Parkinson

Os processos de tomada de decisão na doença de Parkinson (DP) têm sido cada vez mais investigados nos últimos anos e têm estado associados à presença de perturbações de controlo de impulsos, nomeadamente o jogo patológico. De acordo com a literatura estas alterações comportamentais têm estado relacionadas a uma desregulação dopaminérgica nos circuitos ventromediais do córtex pré-frontal. O objetivo deste trabalho consistiu em compreender se os DP têm défices na tomada de decisão comparativamente ao grupo de controlo, estando associado a um risco acrescido destes doentes poderem tornar-se jogadores patológicos. Foram comparados 20 sujeitos com DP e sem demência e 20 indivíduos saudáveis sem doença neurológica, em tarefas de tomada de decisão (Iowa Gambling Task), risco de jogo patológico (South Oak Gambling Screen) e níveis de impulsividade (Barratt Impulsiveness Scale-11). Os resultados revelaram uma diminuição do desempenho na prova de tomada de decisão por parte dos DP e níveis de impulsividade ligeiramente superiores ao do grupo de controlo, particularmente da impulsividade não-planeada. Contudo não foram encontradas diferenças significativas entre grupos quanto ao risco de jogo patológico. De um modo geral, os DP têm dificuldade na tomada de decisão que poderá ser causada por uma disfunção no processamento do feedback emocional da recompensa e/ou punição. No entanto, não demonstraram um risco adicional em adotar condutas aditivas pelo jogo.

Are poker players all the same? : latent class analysis

Poker is the gambling game that is currently gaining the most in popularity. However, there is little information on poker players' characteristics and risk factors. Furthermore, the first studies described poker players, often recruited in universities, as an homogeneous group who played in only one of the modes (land based or on the Internet). This study aims to identify, through latent class analyses, poker player subgroups. A convenience sample of 258 adult poker players was recruited across Quebec during special events or through advertising in various media. Participants filled out a series of questionnaires (Canadian Problem Gambling Index, Beck Depression, Beck Anxiety, erroneous belief and alcohol/drug consumption). The latent class analysis suggests that there are three classes of poker players. Class I (recreational poker players) includes those who have the lowest probability of engaging intensively in different game modes. Participants in class II (Internet poker players) all play poker on the Internet. This class includes the highest proportion of players who consider themselves experts or professionals. They make a living in part or in whole from poker. Class III (multiform players) includes participants with the broadest variety of poker patterns. This group is complex: these players are positioned halfway between professional and recreational players. Results indicate that poker players are not an homogeneous group identified simply on the basis of the form of poker played. The specific characteristics associated with each subgroup points to vulnerabilities that could potentially be targeted for preventive interventions.

The Impacts of Variety on the Costs and Profits of a Hotel Chain’s Properties

In the hotel industry, undistributed operating expenses represent a significant portion of the operating costs for a hotel. Exactly how most of these expenses arise is not well understood. Using data from more than 40 hotels operated by a major chain, the authors examine the links between the variety of a hotel’s products and customers and its undistributed operating expenses and revenues. Their findings show that undistributed operating expenses are related to the extent of the property’s business and product-services mix. The results suggest that although increasing a property's product-service mix results in higher undistributed operating expenses, the incremental costs are compensated for by higher revenues. However, increasing business mix while increasing undistributed operating expenses does not result in higher revenues.

Hotel Valuation Software, Version 4.0

[Updated August 2016] The Hotel Valuation Software, freely available from Cornell’s Center for Hospitality Research, has been updated to reflect the many changes in the 11th Edition of the Uniform System of Accounts for the Lodging Industry (USALI). Version 4.0 of the Hotel Valuation Software provides numerous enhancements over the original tool from 2011. In addition to a significant increase in functionality and an update to reflect the 11th edition of the USALI, Version 4.0 takes advantage of the power of the latest release of Microsoft Excel®. Note that Version 4.0 works only on a PC running Microsoft Windows, it does not work on a Mac running OS X. Users desiring an OS X compatible version should click here (Labeled as Version 2.5). 酒店评估软件手册和三个程序（点击这里 ) Users desiring a Mandarin version of the Hotel Valuation Software should click here The Hotel Valuation Software remains the only non-proprietary computer software designed specifically to assist in the preparation of market studies, forecasts of income and expense, and valuations for lodging property. The software provides an accurate, consistent, and cost-effective way for hospitality professionals to forecast occupancy, revenues and expenses and to perform hotel valuations. Version 4.0 of the Hotel Valuation Software includes the following upgrades – a complete update to reflect the 11th edition of the USALI – the most significant change to the chart of accounts in a generation, an average daily rate forecasting tool, a much more sophisticated valuation module, and an optional valuation tool useful in periods of limited capital liquidity. Using established methodology, the Hotel Valuation Software is a sophisticated tool for lodging professionals. The tool consists of three separate software programs written as Microsoft Excel files and a software users' guide. The tool is provided through the generosity of HVS and the School of Hotel Administration. The three software modules are: Room Night Analysis and Average Daily Rate: Enables the analyst to evaluate the various competitive factors such as occupancy, average room rate, and market segmentation for competitive hotels in a local market. Calculates the area-wide occupancy and average room rate, as well as the competitive market mix. Produce a forecast of occupancy and average daily rate for existing and proposed hotels in a local market. The program incorporates such factors as competitive occupancies, market segmentation, unaccommodated demand, latent demand, growth of demand, and the relative competitiveness of each property in the local market. The program outputs include ten-year projections of occupancy and average daily rate. Fixed and Variable Revenue and Expense Analysis: The key to any market study and valuation is a supportable forecast of revenues and expenses. Hotel revenue and expenses are comprised of many different components that display certain fixed and variable relationships to each other. This program enables the analyst to input comparable financial operating data and forecast a complete 11-year income and expense statement by defining a small set of inputs: The expected future occupancy levels for the subject hotel Base year operating data for the subject hotel Fixed and variable relationships for revenues and expenses Expected inflation rates for revenues and expenses Hotel Capitalization Software: A discounted cash flow valuation model utilizing the mortgage-equity technique forms the basis for this program. Values are produced using three distinct underwriting criteria: A loan-to-value ratio, in which the size of the mortgage is based on property value. A debt coverage ratio (also known as a debt-service coverage ratio), in which the size of the mortgage is based on property level cash flow, mortgage interest rate, and mortgage amortization. A debt yield, in which the size of the mortgage is based on property level cash flow. By entering the terms of typical lodging financing, along with a forecast of revenue and expense, the program determines the value that provides the stated returns to the mortgage and equity components. The program allows for a variable holding period from four to ten years The program includes an optional model useful during periods of capital market illiquidity that assumes a property refinancing during the holding period

The BBC's role in the changing production ecology of pre-school television in Britain

This paper examines the changing production ecology of British pre-school television in light of developments since the mid-1990s and the specific role played by the BBC. Underpinning the research is the perception that pre-school television is characterised by a complex set of industry relationships and dependencies that demands content which needs to satisfy a wide range of international circumstances and commercial prerogatives. For the BBC this has created tension between its public service goals and commercial priorities. Pre-school programming began in Britain in 1950, but it was not until the mid-1990s that Britain emerged as a leading producer of pre-school programming worldwide with government/industry reports regularly identifying the children’s production sector as an important contributor to exports. The rise of pre-school niche channels (CBeebies, Nick Junior, Playhouse Disney), audience fragmentation and the internationalisation and commercialisation of markets have radically altered the funding base of children’s television and the relationships that the BBC enjoys with key players. The international success of much of its pre-school programming is based on the relationships it enjoys with independent producers who generate significant revenues from programme-related consumer products. This paper focuses on the complex and changing relationships between the BBC, independent producers, and financiers, that constitute the production ecology of pre-school television and shape its output. Within the broader setting of cultural production and global trends the paper investigates the following questions: 1) In the light of changes to the sector since the mid-1990s, what makes pre-school television significant both generally and as an ideal public service project? 2) What is the nature of the current funding crisis in British children’s television and what implications does this crisis have for the BBC’s involvement in pre-school television? 3) How is the Corporation reacting to and managing the wider commercial, cultural, regulatory and technological forces that are likely to affect its strategies for the commissioning, production and acquisition of pre-school content?

Morality and politics: the free churches and the Labour Party between the wars

The inter-war period saw the decline of the Liberal party, the traditional political ally of the free churches, and the rise of the Labour party. This article traces the responses of the free churches to these developments. The relationship of the free churches with the Labour party in this period is examined at three different levels; that of the free church leadership, that of the chapels and the ordinary people in the pews and that of the nonconformists who became active in the Labour party. Whilst attitudes towards the Labour party changed within free church institutions during the inter-war years they did not become important supporters of the party, or greatly influence it. The number and proportion of individual nonconformists who were active and influential in the party in this period was however considerable. In the process not only did Labour M.P.s become the main carriers of the nonconformist conscience on issues such as drink and gambling. They also made a distinctive and important contribution to the development and ideals of the Labour party.

Macroeconomic information, structural change, and the prediction of fiscal aggregates

Previous research on the prediction of fiscal aggregates has shown evidence that simple autoregressive models often provide better forecasts of fiscal variables than multivariate specifications. We argue that the multivariate models considered by previous studies are small-scale, probably burdened by overparameterization, and not robust to structural changes. Bayesian Vector Autoregressions (BVARs), on the other hand, allow the information contained in a large data set to be summarized efficiently, and can also allow for time variation in both the coefficients and the volatilities. In this paper we explore the performance of BVARs with constant and drifting coefficients for forecasting key fiscal variables such as government revenues, expenditures, and interest payments on the outstanding debt. We focus on both point and density forecasting, as assessments of a country’s fiscal stability and overall credit risk should typically be based on the specification of a whole probability distribution for the future state of the economy. Using data from the US and the largest European countries, we show that both the adoption of a large system and the introduction of time variation help in forecasting, with the former playing a relatively more important role in point forecasting, and the latter being more important for density forecasting.

O Poder Tributário das Autarquias

Dissertação de Mestrado em Solicitadoria

A technology market transfer for the Zonadvanced video technology

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics