Edison (also known as Edison Force in the United States ) is a 2005 American thriller film written and directed by David J. Burke , and starring Morgan Freeman , LL Cool J , Justin Timberlake in his feature film debut, and Kevin Spacey .
110-502: In the town of Edison, a police pursuit by tactical unit F.R.A.T. (First Response Assault and Tactical) ends with a shootout, in which veteran detective Francis Lazerov kills a criminal by shooting him through the sleeve of a hostage. Later, Lazerov and his partner, rookie Raphael "Rafe" Deed, break into a house and steal money and cocaine from two dealers. After Lazerov hears one of the dealers say he's going to rat them out, Lazerov tells Deed to shoot them, but Deed cannot, and so Lazerov kills
220-475: A "chunk of it". The representatives decided to give a cubic foot of solid copper weighing 486 pounds with their gratitude inscribed on it in appreciation for his part in the "continuous stimulation in the copper industry". Edison is credited with designing and producing the first commercially available fluoroscope , a machine that uses X-rays to take radiographs . Until Edison discovered that calcium tungstate fluoroscopy screens produced brighter images than
330-401: A $ 50-a-week profit by age 13, most of which went to buying equipment for electrical and chemical experiments. At age 15, in 1862, he saved 3-year-old Jimmie MacKenzie from being struck by a runaway train. Jimmie's father, station agent J. U. MacKenzie of Mount Clemens, Michigan , was so grateful that he trained Edison as a telegraph operator. Edison's first telegraphy job away from Port Huron
440-432: A bar, Pollack meets Deed to try and convince him to come forward because he can likely get immunity. Deed refuses, telling him the courts are corrupt, as well. At the F.R.A.T. office, Lazerov attacks Deed because of a Herald article about the attack outside the club, which ends with Tilman fatally shooting Lazerov. Afterward, Deed sneaks back in at night and finds proof of the unit's corruption for Pollack, which he gives him
550-471: A bid. He was surprised to hear them offer $ 10,000 ($ 269,294 in 2023), which he gratefully accepted. The quadruplex telegraph was Edison's first big financial success, and Menlo Park became the first institution set up with the specific purpose of producing constant technological innovation and improvement. Edison was legally credited with most of the inventions produced there, though many employees carried out research and development under his direction. His staff
660-574: A businessman. Ultimately, his entrepreneurship was central to the formation of some 14 companies, including General Electric , formerly one of the largest publicly traded companies in the world. In 1866, at the age of 19, Edison moved to Louisville, Kentucky , where, as an employee of Western Union , he worked the Associated Press bureau news wire . Edison requested the night shift, which allowed him plenty of time to spend at his two favorite pastimes—reading and experimenting. Eventually,
770-463: A chemistry course at The Cooper Union for the Advancement of Science and Art to support his work on a new telegraphy system with Charles Batchelor . This appears to have been his only enrollment in courses at an institution of higher learning. Thomas Edison began his career as a news butcher , selling newspapers, candy, and vegetables on trains running from Port Huron to Detroit. He turned
880-436: A child, he became fascinated with technology and spent hours working on experiments at home. Edison developed hearing problems at the age of 12. The cause of his deafness has been attributed to a bout of scarlet fever during childhood and recurring untreated middle-ear infections . He subsequently concocted elaborate fictitious stories about the cause of his deafness. He was completely deaf in one ear and barely hearing in
990-582: A coiled platinum filament but the high cost of platinum kept the bulb from becoming a commercial success. Many other inventors had also devised incandescent lamps, including Alessandro Volta 's demonstration of a glowing wire in 1800 and inventions by Henry Woodward and Mathew Evans . Others who developed early and commercially impractical incandescent electric lamps included Humphry Davy , James Bowman Lindsay , Moses G. Farmer , William E. Sawyer , Joseph Swan , and Heinrich Göbel . These early bulbs all had flaws such as an extremely short life and requiring
1100-688: A commercially viable electric light bulb on October 21, 1879, Edison developed an electric " utility " to compete with the existing gas light utilities. On December 17, 1880, he founded the Edison Illuminating Company , and during the 1880s, he patented a system for electricity distribution . The company established the first investor-owned electric utility. On September 4, 1882, in Pearl Street , New York City, his 600 kW cogeneration steam-powered generating station, Pearl Street Station 's, electrical power distribution system
1210-435: A dance club where Deed happens to be dancing as well. After Deed rushes out to help them, he recognizes the assailants as two cops from his unit, one of which is Lazerov. Deed visits Pollack in the hospital and meets Ashford. After seeing one of Tilman's lackeys running out, having intended to kill Pollack, Deed tells Ashford he's not safe and to move him. Wallace sets him up at his family farm for his safety while he investigates
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#17327909010591320-521: A draftsman and an expert witness in patent litigation, began working for the United States Electric Lighting Company run by Edison's rival Hiram S. Maxim . While working for Maxim, Latimer invented a process for making carbon filaments for light bulbs and helped install broad-scale lighting systems for New York City, Philadelphia, Montreal, and London. Latimer holds the patent for the electric lamp issued in 1881, and
1430-541: A grooved cylinder. Despite its limited sound quality and that the recordings could be played only a few times, the phonograph made Edison a celebrity. Joseph Henry , president of the National Academy of Sciences and one of the most renowned electrical scientists in the US, described Edison as "the most ingenious inventor in this country... or in any other". In April 1878, Edison traveled to Washington to demonstrate
1540-402: A high electric current to operate which made them difficult to apply on a large scale commercially. In his first attempts to solve these problems, Edison tried using a filament made of cardboard, carbonized with compressed lampblack. This burnt out too quickly to provide lasting light. He then experimented with different grasses and canes such as hemp, and palmetto, before settling on bamboo as
1650-738: A laboratory in West Orange, New Jersey , that featured the world's first film studio , the Black Maria . With 1,093 US patents in his name , as well as patents in other countries, Edison is regarded as the most prolific inventor in American history. Edison married twice and fathered six children. He died in 1931 due to complications from diabetes . Thomas Edison was born in 1847 in Milan, Ohio , but grew up in Port Huron, Michigan , after
1760-415: A large part of the market without electrical service. AC companies expanded into this gap. Edison expressed views that AC was unworkable and the high voltages used were dangerous. As George Westinghouse installed his first AC systems in 1886, Thomas Edison struck out personally against his chief rival stating, " Just as certain as death, Westinghouse will kill a customer within six months after he puts in
1870-561: A number of nearby private dwellings, but was shut down in September 1886 as uneconomic, since he was unable to extend the premises. On January 19, 1883, the first standardized incandescent electric lighting system employing overhead wires began service in Roselle, New Jersey . As Edison expanded his direct current (DC) power delivery system, he received stiff competition from companies installing alternating current (AC) systems. From
1980-660: A private club where cops from the F.R.A.T. unit drink and play with strippers. F.R.A.T. captain Brian Tilman is also there. Pollack arrives at Ashford's house and tells him he's right about the story and asks for help in finding out more; Ashford gives him some tips and tells him to "do the work." Pollack goes to interview Charles, who promises him he'll help if Pollack can give a message to his sick mother. After further investigating and bringing his suspicions to district attorney Jack Reigert and investigator Levon Wallace, Pollack and his girlfriend are beaten near to death outside of
2090-657: A report written for the United Nations Office on Drugs and Crime . A common approach was to use a digital currency exchanger service which converted dollars into a digital currency called Liberty Reserve , and could be sent and received anonymously. The receiver could convert the Liberty Reserve currency back into cash for a small fee. In May 2013, the US authorities shut down Liberty Reserve, charging its founder and various others with money laundering. Another increasingly common way of laundering money
2200-441: A result of government requirements and to avoid the reputational risk involved. Issues relating to money laundering have existed as long as there have been large-scale criminal enterprises . Modern anti-money laundering laws have developed along with the modern War on Drugs . In more recent times anti-money laundering legislation is seen as an adjunct to the financial crime of terrorist financing in that both crimes usually involve
2310-552: A second patent for the "process of manufacturing carbons" (the filament used in incandescent light bulbs), issued in 1882. On October 8, 1883, the US patent office ruled that Edison's patent was based on the work of William E. Sawyer and was, therefore, invalid. Litigation continued for nearly six years. In 1885, Latimer switched camps and started working with Edison. On October 6, 1889, a judge ruled that Edison's electric light improvement claim for "a filament of carbon of high resistance"
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#17327909010592420-427: A story about it, but his editor Moses Ashford tells him to just write the verdict since he doesn't have facts to back up his theory about the cops being corrupt. Ashford fires Pollack after Pollack calls him a fraud. Pollack shows his girlfriend Willow his article and she agrees with Ashford. Meanwhile, Deed is troubled by the shootout and subsequent raid while with his girlfriend Maria. He goes out for his "inspection,"
2530-466: A system of any size. He has got a new thing and it will require a great deal of experimenting to get it working practically. " Many reasons have been suggested for Edison's anti-AC stance. One notion is that the inventor could not grasp the more abstract theories behind AC and was trying to avoid developing a system he did not understand. Edison also appeared to have been worried about the high voltage from misinstalled AC systems killing customers and hurting
2640-399: Is "dirty" and needs to be "cleaned" to appear to have been derived from legal activities, so that banks and other financial institutions will deal with it without suspicion. Money can be laundered by many methods that vary in complexity and sophistication. Money laundering typically involves three steps: The first involves introducing cash into the financial system by some means ("placement");
2750-416: Is a massive and growing problem. Finextra estimated that transaction laundering accounted for over $ 200 billion in the US in 2017 alone, with over $ 6 billion of these sales involving illicit goods or services, sold by nearly 335,000 unregistered merchants. Money laundering can erode democracy . Below table shows the annual reported money laundering cases per 100,000 population for individual countries for
2860-547: Is completely deterministic, protocol-based and can be difficult to censor —make it possible to circumvent national laws using services like Tor to obfuscate transaction origins. Bitcoin relies completely on cryptography, not on a central entity running under a KYC framework. There are several cases in which criminals have cashed out a significant amount of Bitcoin after ransomware attacks, drug dealings, cyber fraud and gunrunning. However, many digital currency exchanges are now operating KYC programs under threat of regulation from
2970-668: Is controversial. Solutions such as ZCash and Monero ― known as privacy coins ― are examples of cryptocurrencies that provide unlinkable anonymity via proofs and/or obfuscation of information ( ring signatures ). While not suitable for large-scale crimes, privacy coins like Monero are suitable for laundering money made through small-scale crimes. Apart from traditional cryptocurrencies, Non-Fungible Tokens (NFTs) are also commonly used in connection with money laundering activities. NFTs are often used to perform Wash Trading by creating several different wallets for one individual, generating several fictitious sales and consequently selling
3080-579: Is integrated into the financial system through additional transactions until the "dirty money" appears "clean". Money laundering can take several forms, although most methodologies can be categorized into one of a few types. These include "bank methods, smurfing [also known as structuring], currency exchanges, and double-invoicing". In theory, electronic money should provide as easy a method of transferring value without revealing identity as untracked banknotes, especially wire transfers involving anonymity-protecting numbered bank accounts. In practice, however,
3190-855: Is not included in official financial reporting and could be used to evade taxes, hand in bribes and pay "under-the-table" salaries. For example, in an affidavit filed on 24 March 2014 in United States District Court, Northern California , San Francisco Division, FBI special agent Emmanuel V. Pascua alleged that several people associated with the Chee Kung Tong organization, and California State Senator Leland Yee , engaged in reverse money laundering activities. The problem of such fraudulent encashment practices ( obnalichka in Russian) has become acute in Russia and other countries of
3300-598: Is notably the first US patent for an electronic device due to its use of an Edison effect bulb as an active component . Subsequent scientists studied, applied, and eventually evolved the bulbs into vacuum tubes , a core component of early analog and digital electronics of the 20th century. In 1878, Edison formed the Edison Electric Light Company in New York City with several financiers, including J. P. Morgan , Spencer Trask , and
3410-582: Is now the Czech Republic), opened in 1882, and was the first public building in the world to use Edison's electric lamps. Francis Jehl , Edison's assistant in the invention of the lamp, supervised the installation. In September 2010, a sculpture of three giant light bulbs was erected in Brno, in front of the theater. The first Edison light bulbs in the Nordic countries were installed at the weaving hall of
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3520-740: Is often expanded by government and international regulators such as the US Office of the Comptroller of the Currency to mean "any financial transaction which generates an asset or a value as the result of an illegal act," which may involve actions such as tax evasion or false accounting . In the UK, it does not need to involve money, but any economic good . Courts involve money laundering committed by private individuals, drug dealers, businesses, corrupt officials, members of criminal organizations such as
3630-500: Is registered on 1,093 patents. Edison began his career as an inventor in Newark, New Jersey , with the automatic repeater and his other improved telegraphic devices, but the invention that first gained him wider notice was the phonograph in 1877. This accomplishment was so unexpected by the public at large as to appear almost magical. Edison became known as "The Wizard of Menlo Park". His first phonograph recorded on tinfoil around
3740-472: Is safe. While the film was in production, some people speculated from the title of the film and the limited story details of corrupt officers that the film was based upon the New Jersey township of Edison , since the township's recent (as of that time) controversy involving its police force. Writer and film director David J. Burke claimed that the name "Edison" was derived from its common association with
3850-442: Is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money ) such as drug trafficking , underground sex work , terrorism , corruption , embezzlement , and Treason , and converting the funds into a seemingly legitimate source, usually through a front organization . In United States law, money laundering is the practice of engaging in financial transactions to conceal
3960-460: Is to use online gaming. In a growing number of online games, such as Second Life and World of Warcraft , it is possible to convert money into virtual goods, services, or virtual cash that can later be converted back into money. To avoid the usage of decentralized digital money such as Bitcoin for the profit of crime and corruption, Australia is planning to strengthen the nation's anti-money laundering laws. The characteristics of Bitcoin—it
4070-442: Is up to the individual to prove that the source of funds is legitimate to get the money back. This makes it much easier for law enforcement agencies and provides for much lower burdens of proof . However, this process has been abused by some law enforcement agencies to take and keep money without strong evidence of related criminal activity, to be used to supplement their own budgets. The 11 September attacks in 2001, which led to
4180-586: The Columbia . Although hesitant at first, Edison agreed to Villard's request. Most of the work was completed in May 1880, and the Columbia went to New York City, where Edison and his personnel installed Columbia 's new lighting system. The Columbia was Edison's first commercial application for his incandescent light bulb. The Edison equipment was removed from Columbia in 1895. In 1880, Lewis Latimer ,
4290-530: The 1st Middlesex Militia during the War of 1812. His father, Samuel Edison Jr. moved to Vienna, Ontario , and fled to Ohio after his involvement in the Rebellion of 1837 . Edison was taught reading, writing, and arithmetic by his mother, a former school teacher. He attended school for only a few months. However, one biographer described him as a very curious child who learned most things by reading on his own. As
4400-595: The American Midwest . Early in his career he worked as a telegraph operator , which inspired some of his earliest inventions. In 1876, he established his first laboratory facility in Menlo Park, New Jersey , where many of his early inventions were developed. He later established a botanical laboratory in Fort Myers, Florida , in collaboration with businessmen Henry Ford and Harvey S. Firestone , and
4510-794: The Finlayson 's textile factory in Tampere, Finland in March 1882. In 1901, Edison attended the Pan-American Exposition in Buffalo, New York . His company, the Edison Manufacturing Company , was given the task of installing the electric lights on the various buildings and structures that were built for the exposition. At night Edison made a panorama photograph of the illuminated buildings. After devising
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4620-756: The Herald . He also mails paper copies to several major newspapers. Deed is dispatched to kill Pollack but saves his life after one of his colleagues attempts to finish the job. After being chased by F.R.A.T. to a construction site, Deed kills the members of the unit, including Tilman, who was holding Pollack hostage. Reigert arrives, and Ashford tells him he will release all the evidence of Reigert and Better Edison's involvement with F.R.A.T. and money laundering if he ever tries to run for office. Reigert quietly dissolves Better Edison, Pollack goes to live with Willow after she recovers, and Deed leaves law enforcement to live quietly with his pregnant wife, looking around to make sure he
4730-546: The Mafia , and even states. As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Money laundering is ipso facto illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). While existing laws were used to fight money laundering during
4840-664: The Office of Foreign Assets Control to sanction it, prompting some users to sue the Treasury Department. Proponents have argued mixers allow users to protect their privacy and that the government lacks the authority to restrict access to decentralized software. In the United States, FinCEN requires mixers to register as money service businesses. In 2013, Jean-Loup Richet , a research fellow at ESSEC ISIS, surveyed new techniques that cybercriminals were using in
4950-574: The Patriot Act in the U.S. and similar legislation worldwide, led to a new emphasis on money laundering laws to combat terrorism financing . The Group of Seven (G7) nations used the Financial Action Task Force on Money Laundering to put pressure on governments around the world to increase surveillance and monitoring of financial transactions and share this information between countries. Starting in 2002, governments around
5060-535: The Thomson-Houston Electric Company of Lynn, Massachusetts (another AC-based competitor) built 22 power stations. Parallel to expanding competition between Edison and the AC companies was rising public furor over a series of deaths in the spring of 1888 caused by pole mounted high voltage alternating current lines. This turned into a media frenzy against high voltage alternating current and
5170-545: The United States Treasury Department : Money laundering is the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean"). Typically, it involves three steps: placement, layering, and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it
5280-412: The phonograph , the motion picture camera , and early versions of the electric light bulb , have had a widespread impact on the modern industrialized world . He was one of the first inventors to apply the principles of organized science and teamwork to the process of invention, working with many researchers and employees. He established the first industrial research laboratory . Edison was raised in
5390-407: The 1880s that used wax-coated cardboard cylinders. In 1876, Edison began work to improve the microphone for telephones (at that time called a "transmitter") by developing a carbon microphone , which consists of two metal plates separated by granules of carbon that would change resistance with the pressure of sound waves. A steady direct current is passed between the plates through the granules and
5500-609: The 1889 merger that formed Edison General Electric. In 1890 he told president Henry Villard he thought it was time to retire from the lighting business and moved on to an iron ore refining project that preoccupied his time. Edison's dogmatic anti-AC values were no longer controlling the company. By 1889 Edison's Electric's own subsidiaries were lobbying to add AC power transmission to their systems and in October 1890 Edison Machine Works began developing AC-based equipment. Cut-throat competition and patent battles were bleeding off cash in
5610-478: The 1980s, the war on drugs led governments again to turn to money laundering rules in an attempt to track and seize the proceeds of drug crimes in order to catch the organizers and individuals running drug empires. It also had the benefit, from a law enforcement point of view, of turning rules of evidence "upside down". Law enforcers normally have to prove an individual is guilty to seize their property, but with money laundering laws , money can be confiscated and it
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#17327909010595720-475: The Goldenrod plant. Edison decided on Solidago leavenworthii , also known as Leavenworth's Goldenrod. The plant, which normally grows roughly 3–4 feet tall with a 5% latex yield, was adapted by Edison through cross-breeding to produce plants twice the size and with a latex yield of 12%. During the 1911 New York Electrical show, Edison told representatives of the copper industry it was a shame he did not have
5830-634: The US electrical business and would compete with Westinghouse for the AC market. Edison served as a figurehead on the company's board of directors for a few years before selling his shares. Edison moved from Menlo Park after the death of his first wife, Mary, in 1884, and purchased a home known as " Glenmont " in 1886 as a wedding gift for his second wife, Mina , in Llewellyn Park in West Orange, New Jersey . In 1885, Thomas Edison bought 13 acres of property in Fort Myers , Florida, for roughly $ 2,750 (equivalent to $ 93,256 in 2023) and built what
5940-424: The barium platinocyanide screens originally used by Wilhelm Röntgen , the technology was capable of producing only very faint images. The fundamental design of Edison's fluoroscope is still in use today, although Edison abandoned the project after nearly losing his own eyesight and seriously injuring his assistant, Clarence Dally . Dally made himself an enthusiastic human guinea pig for the fluoroscopy project and
6050-409: The best filament. Edison continued trying to improve this design and on November 4, 1879, filed for U.S. patent 223,898 (granted on January 27, 1880) for an electric lamp using "a carbon filament or strip coiled and connected to platina contact wires". The patent described several ways of creating the carbon filament including "cotton and linen thread, wood splints, papers coiled in various ways". It
6160-428: The competing companies and the idea of a merger was being put forward in financial circles. The War of Currents ended in 1892 when the financier J.P. Morgan engineered a merger of Edison General Electric with its main alternating current based rival, The Thomson-Houston Company, that put the board of Thomson-Houston in charge of the new company called General Electric . General Electric now controlled three-quarters of
6270-436: The conversion or transfer of property; the concealment or disguising of the nature of the proceeds; the acquisition, possession or use of property, knowing that these are derived from criminal acts; the participating in or assisting the movement of funds to make the proceeds appear legitimate. Money obtained from certain crimes, such as extortion , insider trading , drug trafficking , human trafficking , and illegal gambling
6380-591: The cost of interior furnishings. Edison and Mina spent many winters at their home in Fort Myers, and Edison tried to find a domestic source of natural rubber. Due to the security concerns around World War I , Edison suggested forming a science and industry committee to provide advice and research to the US military, and he headed the Naval Consulting Board in 1915. Edison became concerned with America's reliance on foreign supply of rubber and
6490-436: The critical parameters of his electric lighting system including lamp resistance by an analysis of Ohm's law , Joule's law and economics. Nearly all of Edison's patents were utility patents, which were protected for 17 years and included inventions or processes that are electrical, mechanical, or chemical in nature. About a dozen were design patents , which protect an ornamental design for up to 14 years. As in most patents,
6600-407: The dealer. He tells the surviving dealer, Isaiah Charles, to say that his partner attacked him with a knife, so he had to shoot him, covering up the cops' actions and sparing Charles' life. At the trial, Deed testifies about the incident to match the story Lazerov made up. Reporter Joshua Pollack overhears Charles thanking the cops and tries to question them about it with no success. He tries to write
6710-539: The early 1880s, AC arc lighting systems for streets and large spaces had been an expanding business in the US. With the development of transformers in Europe and by Westinghouse Electric in the US in 1885–1886, it became possible to transmit AC long distances over thinner and cheaper wires, and "step down" (reduce) the voltage at the destination for distribution to users. This allowed AC to be used in street lighting and in lighting for small business and domestic customers,
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#17327909010596820-667: The family moved there in 1854. He was the seventh and last child of Samuel Ogden Edison Jr. (1804–1896, born in Marshalltown, Nova Scotia ) and Nancy Matthews Elliott (1810–1871, born in Chenango County, New York ). His patrilineal family line was Dutch by way of New Jersey ; the surname had originally been "Edeson". His great-grandfather, loyalist John Edeson, fled New Jersey for Nova Scotia in 1784. The family moved to Middlesex County, Upper Canada , around 1811, and his grandfather, Capt. Samuel Edison Sr. served with
6930-576: The film, originally titled Edison , as Edison Force , direct–to–video on July 18, 2006. The film was released in theaters in Netherlands on March 12, 2006. On Rotten Tomatoes Edison has an approval rating of 13% based on reviews from eight critics. In September 2017, when a Twitter user asked his followers to "name one bad Kevin Spacey movie", Spacey himself responded and simply wrote Edison . Money laundering Money laundering
7040-485: The former Soviet Union. The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) reported that the Russian Federation, Ukraine, Turkey, Serbia, Kyrgyzstan, Uzbekistan, Armenia and Kazakhstan have encountered a substantial shrinkage of tax base and shifting money supply balance in favor of cash. These processes have complicated the planning and management of the economy and contributed to
7150-499: The growth of the shadow economy . Many regulatory and governmental authorities issue estimates each year for the amount of money laundered, either worldwide or within their national economy. In 1996, a spokesperson for the IMF estimated that 2–5% of the worldwide global economy involved laundered money. The Financial Action Task Force on Money Laundering (FATF), an intergovernmental body set up to combat money laundering, stated, "Due to
7260-487: The identity, source, or destination of illegally gained money. In United Kingdom law, the common law definition is wider. The act is defined as "the process by which the proceeds of crime are converted into assets which appear to have a legitimate origin, so that they can be retained permanently or recycled into further criminal enterprises". In the past, the term "money laundering" was applied only to financial transactions related to organized crime . Today its definition
7370-400: The illegal nature of the transactions, precise statistics are not available and it is therefore impossible to produce a definitive estimate of the amount of money that is globally laundered every year. The FATF therefore does not publish any figures in this regard." Academic commentators have likewise been unable to estimate the volume of money with any degree of assurance. Various estimates of
7480-482: The incandescent electric lamp and was put in charge of tests and records on that device. In 1880, he was appointed chief engineer of the Edison Lamp Works. In his first year, the plant under general manager Francis Robbins Upton turned out 50,000 lamps. According to Edison, Hammer was "a pioneer of incandescent electric lighting". Frank J. Sprague , a competent mathematician and former naval officer ,
7590-408: The inventions he described were improvements over prior art . The phonograph patent, in contrast, was unprecedented in describing the first device to record and reproduce sounds. In just over a decade, Edison's Menlo Park laboratory had expanded to occupy two city blocks. Edison said he wanted the lab to have "a stock of almost every conceivable material". A newspaper article printed in 1887 reveals
7700-509: The inventor and business leader Thomas Edison , which led to thoughts of "electricity, power and industry." The film was originally supposed to see a US release in the spring of 2005; however, due to its poor reviews from critics after its screening at the Toronto International Film Festival , its release to cinemas in the US and most other countries was cancelled. Sony Pictures Home Entertainment released
7810-447: The jurisdictions they operate. Reverse money laundering is a process that disguises a legitimate source of funds that are to be used for illegal purposes. It is usually perpetrated for the purpose of financing terrorism but can be also used by criminal organizations that have invested in legal businesses and would like to withdraw legitimate funds from official circulation. Unaccounted cash received via disguising financial transactions
7920-510: The last available year according to the United Nations Office on Drugs and Crime . Proportion of unreported money laundering and definition of money laundering might differ between countries. Thomas Edison Thomas Alva Edison (February 11, 1847 – October 18, 1931) was an American inventor and businessman. He developed many devices in fields such as electric power generation , mass communication , sound recording , and motion pictures. These inventions, which include
8030-498: The latter preoccupation cost him his job. One night in 1867, he was working with a lead–acid battery when he spilt sulfuric acid onto the floor. It ran between the floorboards and onto his boss's desk below. The next morning Edison was fired. His first patent was for the electric vote recorder, U.S. patent 90,646 , which was granted on June 1, 1869. Finding little demand for the machine, Edison moved to New York City shortly thereafter. One of his mentors during those early years
8140-440: The list goes on. Over his desk Edison displayed a placard with Sir Joshua Reynolds ' famous quotation: "There is no expedient to which a man will not resort to avoid the real labor of thinking." This slogan was reputedly posted at several other locations throughout the facility. In Menlo Park, Edison had created the first industrial laboratory concerned with creating knowledge and then controlling its application. Edison's name
8250-468: The market Edison's patented low voltage DC incandescent lamp system was designed to supply. Edison's DC empire suffered from one of its chief drawbacks: it was suitable only for the high density of customers found in large cities. Edison's DC plants could not deliver electricity to customers more than one mile from the plant, and left a patchwork of unsupplied customers between plants. Small cities and rural areas could not afford an Edison style system, leaving
8360-680: The members of the Vanderbilt family . Edison made the first public demonstration of his incandescent light bulb on December 31, 1879, in Menlo Park. It was during this time that he said: "We will make electricity so cheap that only the rich will burn candles." Henry Villard , president of the Oregon Railroad and Navigation Company , attended Edison's 1879 demonstration. Villard was impressed and requested Edison install his electric lighting system aboard Villard's company's new steamer,
8470-429: The next day as he's about to get married. He tells Pollack he wants to be married for "death benefits," implying he believes F.R.A.T. will have him killed and he wants Maria to be taken care of financially. Wallace shows Ashford the headquarters for "Better Edison," a money laundering corporation that Reigert is heavily involved in. Pollack prepares electronic copies of his story and sends them off to Ashford to print in
8580-422: The other. It is alleged that Edison would listen to a music player or piano by clamping his teeth into the wood to absorb the sound waves into his skull. As he got older, Edison believed his hearing loss allowed him to avoid distraction and concentrate more easily on his work. Modern-day historians and medical professionals have suggested he may have had ADHD . It is known that early in his career he enrolled in
8690-479: The past decade to launder funds. A mixer blends the cryptocurrencies of many users together to obfuscate the origins and owners of funds, enabling a greater degree of privacy on public blockchains like Bitcoin and Ethereum . Although not explicitly illegal in many jurisdictions, the legality of mixers is controversial. The use of the mixer Tornado Cash in the laundering of funds by the Lazarus Group led
8800-550: The period of Prohibition in the United States during the 1930s, dedicated Anti-Money Laundering legislation was only implemented in the 1980s. Organized crime received a major boost from Prohibition and a large source of new funds that were obtained from illegal sales of alcohol. The successful prosecution of Al Capone on tax evasion brought in a new emphasis by the state and law enforcement agencies to track and confiscate money, but existing laws against tax evasion could not be used once gangsters started paying their taxes. In
8910-423: The phonograph before the National Academy of Sciences, Congressmen, Senators and President Hayes . The Washington Post described Edison as a " genius " and his presentation as "a scene... that will live in history". Although Edison obtained a patent for the phonograph in 1878, he did little to develop it until Alexander Graham Bell , Chichester Bell , and Charles Tainter produced a phonograph-like device in
9020-426: The physics of loose-contact carbon transmitters (work that Hughes did not bother to patent). Edison used the carbon microphone concept in 1877 to create an improved telephone for Western Union . In 1886, Edison found a way to improve a Bell Telephone microphone, one that used loose-contact ground carbon, with his discovery that it worked far better if the carbon was roasted . This type was put in use in 1890 and
9130-437: The project, while Edison did all the research. Edison, however, wished to contribute $ 25,000 as well. Edison did the majority of the research and planting, sending results and sample rubber residues to his West Orange Lab. Edison employed a two-part Acid-base extraction , to derive latex from the plant material after it was dried and crushed to a powder. After testing 17,000 plant samples, he eventually found an adequate source in
9240-404: The record-keeping capabilities of Internet service providers and other network resource maintainers tend to frustrate that intention. While some cryptocurrencies under recent development have aimed to provide more possibilities of transaction anonymity for various reasons, the degree to which they succeed — and, in consequence, the degree to which they offer benefits for money laundering efforts —
9350-450: The respective NFT to a third party. According to a report by Chainalysis , these types of wash trades are becoming increasingly popular among money launderers especially due to the largely anonymous nature of transactions on NFT marketplaces. Auction platforms for NFT sales may face regulatory pressure to comply with anti-money laundering legislation. Additionally, cryptocurrency mixers have been increasingly used by cybercriminals over
9460-481: The sales of electric power systems in general. The primary reason was that Edison Electric based their design on low voltage DC, and switching a standard after they had installed over 100 systems was, in Edison's mind, out of the question. By the end of 1887, Edison Electric was losing market share to Westinghouse, who had built 68 AC-based power stations to Edison's 121 DC-based stations. To make matters worse for Edison,
9570-641: The scale of global money laundering are sometimes repeated often enough to make some people regard them as factual—but no researcher has overcome the inherent difficulty of measuring an actively concealed practice. Regardless of the difficulty in measurement, the amount of money laundered each year is in the billions of US dollars and poses a significant policy concern for governments. As a result, governments and international bodies have undertaken efforts to deter, prevent, and apprehend money launderers. Financial institutions have likewise undertaken efforts to prevent and detect transactions involving dirty money, both as
9680-407: The second involves carrying out complex financial transactions to camouflage the illegal source of the cash ("layering"); and finally, acquiring wealth generated from the transactions of the illicit funds ("integration"). Some of these steps may be omitted, depending on the circumstances. For example, non-cash proceeds that are already in the financial system would not need to be placed. According to
9790-452: The seemingly greedy and callous lighting companies that used it. Edison took advantage of the public perception of AC as dangerous, and joined with self-styled New York anti-AC crusader Harold P. Brown in a propaganda campaign, aiding Brown in the public electrocution of animals with AC, and supported legislation to control and severely limit AC installations and voltages (to the point of making it an ineffective power delivery system) in what
9900-457: The seriousness of his claim, stating the lab contained "eight thousand kinds of chemicals, every kind of screw made, every size of needle, every kind of cord or wire, hair of humans, horses, hogs, cows, rabbits, goats, minx, camels ... silk in every texture, cocoons, various kinds of hoofs, shark's teeth, deer horns, tortoise shell ... cork, resin, varnish and oil, ostrich feathers, a peacock's tail, jet, amber, rubber, all ores ..." and
10010-434: The signal so generated to the telephone line. Edison was one of many inventors working on the problem of creating a usable microphone for telephony by having it modulate an electric current passed through it. His work was concurrent with Emile Berliner 's loose-contact carbon transmitter (who lost a later patent case against Edison over the carbon transmitter's invention ) and David Edward Hughes ’ study and published paper on
10120-452: The surge in digital asset late 2010s, there's been a noticeable rise in money laundering and fraud tied to cryptocurrency. In 2021 alone, cybercriminals managed to secure US$ 14 billion in cryptocurrency through various illicit activities. Chinese organized criminal groups have become the principal money launderers for drug cartels in Mexico, Italy, and elsewhere. Money laundering is
10230-450: The transmission of funds through the financial system (although money laundering relates to where the money has come from , and terrorist financing relating to where the money is going to ). Finally, people, vessels, organisations and governments can be sanctioned due to international law-breaking, war (and of course tit-for-tat sanctions), and still want to move funds into markets where they are persona non grata . Transaction laundering
10340-458: The unit. Charles is murdered in prison, and Lazerov tells Deed that his problem is solved. Lazerov arrives at Wallace's farm to kill Pollack, who escapes on a bicycle after blowing up Lazerov's car. Wallace and Ashford find him at a payphone after going searching. Tilman meets Lazerov in a parking garage to chew him out for going rogue, and they argue about how Edison used to need brute force but now it needs "finesse", which Lazerov does not have. At
10450-417: The varying resistance results in a modulation of the current, creating a varying electric current that reproduces the varying pressure of the sound wave. Up to that point, microphones, such as the ones developed by Johann Philipp Reis and Alexander Graham Bell , worked by generating a weak current. The carbon microphone works by modulating a direct current and, subsequently, using a transformer to transfer
10560-517: The world upgraded money laundering laws and surveillance and monitoring systems of financial transactions. Anti-money laundering regulations have become a much larger burden for financial institutions and enforcement has stepped up significantly. During 2011–2015 a number of major banks faced ever-increasing fines for breaches of money laundering regulations. This included HSBC , which was fined $ 1.9 billion in December 2012, and BNP Paribas , which
10670-627: Was a fellow telegrapher and inventor named Franklin Leonard Pope , who allowed the impoverished youth to live and work in the basement of his Elizabeth, New Jersey , home, while Edison worked for Samuel Laws at the Gold Indicator Company. Pope and Edison founded their own company in October 1869, working as electrical engineers and inventors. Edison began developing a multiplex telegraphic system, which could send two messages simultaneously, in 1874. Edison's major innovation
10780-681: Was at Stratford Junction, Ontario, on the Grand Trunk Railway . He also studied qualitative analysis and conducted chemical experiments until he left the job rather than be fired after being held responsible for a near collision of two trains. Edison obtained the exclusive right to sell newspapers on the road, and, with the aid of four assistants, he set in type and printed the Grand Trunk Herald , which he sold with his other papers. This began Edison's long streak of entrepreneurial ventures, as he discovered his talents as
10890-521: Was determined to find a native supply of rubber. Edison's work on rubber took place largely at his research laboratory in Fort Myers, which has been designated as a National Historic Chemical Landmark. The laboratory was built after Thomas Edison, Henry Ford, and Harvey S. Firestone pulled together $ 75,000 to form the Edison Botanical Research Corporation. Initially, only Ford and Firestone were to contribute funds to
11000-467: Was exposed to a poisonous dose of radiation; he later died (at the age of 39) of injuries related to the exposure, including mediastinal cancer. In 1903, a shaken Edison said: "Don't talk to me about X-rays, I am afraid of them." Nonetheless, his work was important in the development of a technology still used today. Edison invented a highly sensitive device, that he named the tasimeter , which measured infrared radiation . His impetus for its creation
11110-537: Was fined $ 8.9 billion in July 2014 by the U.S. government. Many countries introduced or strengthened border controls on the amount of cash that can be carried and introduced central transaction reporting systems where all financial institutions have to report all financial transactions electronically. For example, in 2006, Australia set up the AUSTRAC system and required the reporting of all financial transactions. With
11220-455: Was generally told to carry out his directions in conducting research, and he drove them hard to produce results. William Joseph Hammer , a consulting electrical engineer , started working for Edison and began his duties as a laboratory assistant in December 1879. He assisted in experiments on the telephone, phonograph, electric railway, iron ore separator , electric lighting , and other developing inventions. However, Hammer worked primarily on
11330-634: Was later called Seminole Lodge as a winter retreat. The main house and guest house are representative of Italianate architecture and Queen Anne style architecture . The building materials were pre-cut in New England by the Kennebec Framing Company and the Stephen Nye Lumber Company of Fairfield Maine. The materials were then shipped down by boat and were constructed at a cost of $ 12,000 each, which included
11440-476: Was not until several months after the patent was granted that Edison and his team discovered that a carbonized bamboo filament could last over 1,200 hours. Attempts to prevent blackening of the bulb due to emission of charged carbon from the hot filament culminated in Edison effect bulbs, which redirected and controlled the mysterious unidirectional current. Edison's 1883 patent for voltage-regulating
11550-563: Was now being referred to as a " war of the currents ". The development of the electric chair was used in an attempt to portray AC as having a greater lethal potential than DC and smear Westinghouse, via Edison colluding with Brown and Westinghouse's chief AC rival, the Thomson-Houston Electric Company, to ensure the first electric chair was powered by a Westinghouse AC generator. Edison was becoming marginalized in his own company having lost majority control in
11660-495: Was recruited by Edward H. Johnson and joined the Edison organization in 1883. One of Sprague's contributions to the Edison Laboratory at Menlo Park was to expand Edison's mathematical methods. Despite the common belief that Edison did not use mathematics, analysis of his notebooks reveal that he was an astute user of mathematical analysis conducted by his assistants such as Francis Robbins Upton, for example, determining
11770-580: Was switched on, providing 110 volts direct current (DC), initially to 59 customers in lower Manhattan , quickly growing to 508 customers with 10,164 lamps. The power station was decommissioned in 1895. Eight months earlier in January 1882, to demonstrate feasibility, Edison had switched on the 93 kW first steam-generating power station at Holborn Viaduct in London. This was a smaller 110 V DC supply system, eventually supplying 3,000 street lights and
11880-488: Was the establishment of an industrial research lab in 1876. It was built in Menlo Park , a part of Raritan Township (now named Edison Township in his honor) in Middlesex County, New Jersey , with the funds from the sale of Edison's quadruplex telegraph . After his demonstration of the telegraph, Edison was not sure that his original plan to sell it for $ 4,000 to $ 5,000 was right, so he asked Western Union to make
11990-527: Was used in all telephones along with the Bell receiver until the 1980s. In 1878, Edison began working on a system of electrical illumination, something he hoped could compete with gas and oil-based lighting. He began by tackling the problem of creating a long-lasting incandescent lamp, something that would be needed for indoor use. However, Thomas Edison did not invent the light bulb. In 1840, British scientist Warren de la Rue developed an efficient light bulb using
12100-515: Was valid. To avoid a possible court battle with yet another competitor, Joseph Swan , who held an 1880 British patent on a similar incandescent electric lamp, he and Swan formed a joint company called Ediswan to manufacture and market the invention in Britain. The incandescent light bulb patented by Edison also began to gain widespread popularity in Europe as well. Mahen Theatre in Brno (in what
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