79-654: The Stanford Super Series was a series of Twenty20 cricket matches in 2008, sponsored by Allen Stanford . The main game of the Series matched the English national cricket team against an all-star team from the Caribbean , called the Stanford Superstars . The prize money awarded in the tournament was winner-take-all; the players for the winning team in the yearly game took home $ 20 million prize money, and
158-417: A Twenty20 franchise elsewhere in the world and make far more money. Under-17s and Under-19s are playing T20 games in national championships, and at the detriment of two-day games. Good state players these days are averaging 35; if you were averaging 35 when I was playing your dad would go and buy you a basketball or a footy and tell you to play that. Ricky Ponting , In June 2009, speaking at
237-507: A baseball dugout . The Laws of cricket apply to Twenty20, with major exceptions: Currently, if the match ends with the scores tied and there must be a winner, the tie is broken with a one-over-per-side Eliminator or Super Over : Each team nominates three batsmen and one bowler to play a one-over-per-side "mini-match". The team which bats second in the match bats first in the Super Over. In turn, each side bats one over bowled by
316-654: A crowd of 27,509, the highest attendance for any county cricket game at the ground – other than a one-day final – since 1953. Thirteen teams from different parts of the country participated in Pakistan's inaugural competition in 2004, with the Faisalabad Wolves the first winners. On 12 January 2005 Australia's first Twenty20 game was played at the WACA Ground between the Western Warriors and
395-603: 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 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
474-593: A light-hearted manner – both sides turned out in kit similar to that worn in the 1980s, the New Zealand team's a direct copy of that worn by the Beige Brigade . Some of the players also sported moustaches or beards and hairstyles popular in the 1980s, taking part in a competition amongst themselves for "best retro look", at the request of the Beige Brigade. Australia won the game comprehensively, and as
553-705: 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
632-441: 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
711-399: A tie-breaking bowl-out 3–0; 126 runs were scored apiece in the game proper. The game was the last international match played by Chris Cairns . The ICC has declared that it sees T20 as the optimal format for globalizing the game, and in 2018, announced that it will give international status to all T20 cricket matches played between its member nations. This resulted in a significant leap in
790-538: 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 the Mafia , and even states. As financial crime has become more complex and financial intelligence
869-714: A way to promote cricket in the West Indies . He created the Stanford 20/20 , a yearly tournament featuring teams from the island nations that made up the West Indies. From the first edition of his tournament in 2006, he aimed to have the best players from his tournament play as a team against an international team. Initially, South Africa had been planned to play against the Stanford team for a prize of US$ 5 million, but that effort fell through after scheduling conflicts with
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#1732787848412948-399: 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");
1027-412: Is a form of limited overs cricket in that it involves two teams, each with a single innings . The key feature is that each team bats for a maximum of 20 overs (120 legal balls). The batting team members do not arrive from and depart to traditional dressing rooms, but come and go from a bench (typically a row of chairs) visible in the playing arena, analogous to association football's technical area or
1106-416: 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
1185-455: Is a shortened format of cricket . At the professional level, it was introduced by the England and Wales Cricket Board (ECB) in 2003 for the inter-county competition. In a Twenty20 game, the two teams have a single innings each, which is restricted to a maximum of twenty overs . Together with first-class and List A cricket, Twenty20 is one of the three forms of cricket recognised by
1264-547: 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
1343-668: 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
1422-579: 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,
1501-421: 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 the period of Prohibition in
1580-855: 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
1659-621: Is now serving a penal sentence in the US. Following the first year of the series, the future of the competition was put in doubt after Stanford disbanded his team of 12 'Stanford Legends' who had been acting as ambassadors for the tournament. In the wake of fraud charges made against Stanford, the ECB terminated all contracts with Stanford in February 2009, meaning that the England cricket team took no further part in Stanford organised matches. Stanford
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#17327878484121738-403: Is the most offensive. It has no context as a proper sporting competition, it is neither country versus country, club versus club or invitation XI versus invitation XI. It is a rococo hybrid. It has money, but nothing else going for it." It has since been alleged that Stanford's creation of the tournament was primarily a method to launder his income from the fraudulent business schemes for which he
1817-460: 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
1896-442: 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
1975-461: The 2007 ICC World Cricket League Division One , a 50-over competition. In December 2007 it was decided to hold a qualifying tournament with a 20-over format to better prepare the teams. With six participants, two would qualify for the 2009 World Twenty20 and would each receive $ 250,000 in prize money. The second tournament was won by Pakistan , who beat Sri Lanka by eight wickets in England on 21 June 2009. The 2010 ICC World Twenty20 tournament
2054-695: The 2007 ICC World Twenty20 . The Board of Control for Cricket in India started the Indian Premier League popularly known as IPL , which is now the largest cricket league, in 2008, which utilizes the North American sports franchise system with ten teams in major Indian cities. In September 2017, the broadcasting and digital rights for the next five years (2018–2022) of the IPL were sold to Star India for US$ 2.55 billion, making it one of
2133-484: The Indian Premier League , declined as they did not want to be involved in a privately funded programme. When that deal fell through, Stanford increased the prize money to US$ 20 million and aimed to get either England or Australia involved. After meeting with the ECB from April through June, Stanford finally signed a five-year deal with the England and Wales Cricket Board to host a series of US$ 20 million, winner-take-all matches, worth $ 100 million in total. In addition,
2212-488: The International Cricket Council (ICC) as being played at the highest level, both internationally and domestically. A typical Twenty20 game is completed in about three and a half hours, with each innings lasting around 90 minutes and an official 10-minute break between the innings. This is much shorter than previous forms of the game, and is closer to the timespan of other popular team sports. It
2291-664: 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
2370-574: 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
2449-642: The Rose Bowl in Hampshire on 13 June 2005, which England won by a margin of 100 runs, a record victory which lasted until 2007. On 9 January 2006 Australia and South Africa met in the first international Twenty20 game in Australia. In a first, each player's nickname appeared on the back of his uniform, rather than his surname. The international match drew a crowd of 38,894 people at The Gabba . On 16 February 2006 New Zealand defeated West Indies in
Stanford Super Series - Misplaced Pages Continue
2528-545: 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
2607-488: The Victorian Bushrangers . It drew a sell-out crowd of 20,000, which was the first one in nearly 25 years. Starting on 11 July 2006, 19 West Indies regional teams competed in what was named the Stanford 20/20 tournament. The event was financially backed by billionaire Allen Stanford , who gave at least $ 28 million in funding money. It was intended that the tournament would be an annual event. Guyana won
2686-478: 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
2765-650: The Champions Cup whilst Stanford Superstars and England contested the Final, labelled the 20/20 For 20 match. The matches were well attended, but the press (especially the British contingent) was mainly very sceptical. "Of all the short-form matches currently being organised," wrote Stephen Brenkley in The Independent on 26 October 2008, "the conclusion is easily reached that Stanford Superstars v England
2844-524: The ICC and ESPN-Star and scheduling constraints that tournament was infeasible. Instead, Stanford invited the winners of the World Twenty20 , India, to play for a prize of US$ 5 million (later US$ 10 million) and planned to ask Australia to come as a back-up should India decline or be unavailable. India, who were in the process of launching the highly successful first year of their domestic Twenty20 league,
2923-490: The Indian fitness website Takath.com that Twenty20 had "raised the bar" in terms of fitness levels for all players, demanding higher levels of strength, speed, agility and reaction time from all players regardless of role in the team. Matthew Hayden credited retirement from international cricket with aiding his performance in general and fitness in particular in the Indian Premier League . Several commentators have noted that
3002-518: The Super Over is also tied then a " countback " is used, with scores after the fifth ball for each team being used to determine the result. If it is still tied, then the countback goes to four balls, and so on. The latest Super Over to decide a match was between the United States and Pakistan on 6 June 2024, in the 2024 ICC Men's T20 World Cup at Grand Prairie Stadium in Dallas, Texas, with
3081-668: The T20 format has been embraced by many Associate members of the ICC partly because it is more financially viable to play. T20's success has also inspired the invention of even shorter formats, such as T10 cricket and 100-ball cricket , and its impact on cricket has been compared to or served as inspiration for innovations in other sports, such as with the 3x3 variant of basketball or the Indian Pro Kabaddi League . Former Australian captain Ricky Ponting , on
3160-520: 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
3239-406: The United States winning 18/1 to 13/1 in the Super Over after tying on 159. Tied Twenty20 matches were previously decided by a bowl-out . Women's and men's Twenty20 Internationals have been played since 2004 and 2005 respectively. To date, 76 nations have played the format, including all Test-playing nations . In November 2011, the ICC released the first Twenty20 International rankings for
Stanford Super Series - Misplaced Pages Continue
3318-520: The WICB. In 2008, Stanford looked to expand the tournament and decided once again to feature a high-stakes game featuring the best players in the West Indies versus an international team. Stanford initially wished to invite Sri Lanka, India, Australia and South Africa to come and play a single-elimination tournament in Antigua, with the winner facing his all-star team. However, due to contractual issues with
3397-493: The annual Cowdrey Lecture at Lord's , former Australian wicketkeeper Adam Gilchrist pushed for Twenty20 to be made an Olympic sport . "It would," he said, "be difficult to see a better, quicker or cheaper way of spreading the game throughout the world." This became a reality starting with the 2028 Summer Olympics . T20 cricket has also been accepted into the Asian Games and Commonwealth Games . Twenty20 match format
3476-729: The championship game; $ 1 million would go to the management team and the remaining $ 7 million would be split between the English Cricket Board and the West Indies Cricket Board . The Stanford Superstars and an England XI were scheduled to compete in the first five tournaments. Alongside them were the champions of the Stanford 20/20 in the West Indies and the champions of the Twenty20 Cup in England . These were Trinidad and Tobago and Middlesex Crusaders . The two domestic champions competed for
3555-482: The competition, securing $ 280,000 prize money. On 1 November, the Stanford Superstars played England in what was expected to be the first of five fixtures in as many years with the winner claiming $ 20 million in each match. The Stanford Superstars won the first match, but no further fixtures were held as Allen Stanford was charged with fraud in 2009. Several T20 leagues started after the popularity of
3634-436: 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
3713-423: The deal included an annual Twenty20 quadrangular involving England (as hosts), West Indies and two invitational teams with a prize of US$ 9.5 million. The final $ 20 million prize was split as follows: each of the 11 players on the winning team who played in the championship game would take home $ 1 million. Another $ 1 million would be split amongst the players who were selected for the winning team, but did not play in
3792-630: The fans. The Women's Big Bash League was started in 2015 by Cricket Australia, while the Kia Super League was started in England and Wales in 2016. The Mzansi Super League in South Africa was started in 2018. Several T20 leagues follow the general format of having a group stage followed by a Page playoff system among the top four teams where: In the Big Bash League, there is an additional match to determine which of
3871-485: 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
3950-455: The fourth- or fifth-placed teams will qualify to be in the top four. The first Twenty20 International match was held on 5 August 2004 between the England and New Zealand women's teams, with New Zealand winning by nine runs. On 17 February 2005 Australia defeated New Zealand in the first men's international Twenty20 match, played at Eden Park in Auckland . The game was played in
4029-433: 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 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
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#17327878484124108-559: The game. In October 2018, the ICC announced that the women's ranking would be split between ODIs and T20Is, and released both tables shortly thereafter. This is a list of the current Twenty20 domestic competitions in several of the leading cricket countries. Money laundering Money laundering 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
4187-499: 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
4266-400: 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
4345-603: The inaugural event, defeating Trinidad and Tobago by five wickets, securing $ 1 million in prize money. On 5 January 2007 the Queensland Bulls played the New South Wales Blues at The Gabba , Brisbane . An unexpected 16,000 fans turned up on the day to buy tickets, causing Gabba staff to throw open gates and grant many fans free entry. Attendance reached 27,653. For the February 2008 Twenty20 match between Australia and India, 85,824 people attended
4424-447: 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
4503-645: The losing players did not earn anything. The domestic West Indies and England Twenty20 champions competed for the Champions Cup , as well as playing in a series of other exhibition matches with the Superstars and England. The tournament collapsed following the arrest (and subsequent conviction) of Allen Stanford for an $ 8 billion fraud , part of which funded the prize money for the Super Series. Allen Stanford proposed emphasizing Twenty20 cricket as
4582-748: The match at the Melbourne Cricket Ground , involving the Twenty20 World Champions against the ODI World Champions . The Stanford Super Series was held in October 2008 between the three teams. The respective winners of the English and Caribbean Twenty20 competitions, Middlesex and Trinidad and Tobago , and a Stanford Superstars team formed from West Indies domestic players. Trinidad and Tobago won
4661-576: The men's game, based on the same system as the Test and ODI rankings. The rankings cover a two- to three-year period, with matches since the most recent 1 August weighted fully, matches in the preceding 12 months weighted two-thirds, and matches in the 12 months preceding that weighted one-third. To qualify for the rankings, teams must have played at least eight Twenty20 Internationals in the ranking period. The ICC Women's Rankings were launched in October 2015, which aggregated performance over all three forms of
4740-539: The new format. The first official Twenty20 matches were played on 13 June 2003 between the English counties in the Twenty20 Cup . The first season of Twenty20 in England was a relative success, with the Surrey Lions defeating the Warwickshire Bears by nine wickets in the final to claim the title. The first Twenty20 match held at Lord's , on 15 July 2004 between Middlesex and Surrey , attracted
4819-488: The number of T20I matches played across the world. Every two years an ICC World Twenty20 tournament is to take place, except in the event of an ICC Cricket World Cup being scheduled in the same year, in which case it will be held the year before. The first tournament was in 2007 in South Africa where India defeated Pakistan in the final. Two Associate teams had played in the first tournament, selected through
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#17327878484124898-522: The one nominated opposition bowler, with their innings over if they lose two wickets before the over is completed. The side with the higher score from their Super Over wins. If the Super Over also ends up in a tie, it is repeated until the tie is broken. In the Australian domestic competition the Big Bash League , the Super Over is played slightly differently, with no two-wicket limit, and if
4977-753: The other hand, has criticised Twenty20 as being detrimental to Test cricket and for hampering batsmen's scoring skills and concentration. Former Australian captain Greg Chappell made similar complaints, fearing that young players would play too much T20 and not develop their batting skills fully, while former England player Alex Tudor feared the same for bowling skills. Former West Indies captains Clive Lloyd , Michael Holding and Garfield Sobers criticised Twenty20 for its role in discouraging players from representing their test cricket national side, with many West Indies players like Chris Gayle , Sunil Narine and Dwayne Bravo preferring instead to play in
5056-479: 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
5135-404: 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 —
5214-450: 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
5293-539: The result became obvious towards the end of the NZ innings, the players and umpires took things less seriously: Glenn McGrath jokingly replayed the Trevor Chappell underarm incident from a 1981 ODI between the two sides, and Billy Bowden showed him a mock red card (red cards are not normally used in cricket) in response. The first Twenty20 international in England was played between England and Australia at
5372-641: 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
5451-407: 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
5530-452: 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
5609-450: 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
5688-517: 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
5767-442: The world's most lucrative sports league per match. The IPL has seen a spike in its brand valuation to US$ 5.3 billion after the 10th edition , according to global valuation and corporate finance advisor Duff & Phelps. The Big Bash League , Bangladesh Premier League , Pakistan Super League , Caribbean Premier League , and Afghanistan Premier League started thereafter, following similar formulae, and remained popular with
5846-470: The younger generation in response to dwindling crowds and reduced sponsorship. The Board wanted to deliver fast-paced, exciting cricket accessible to fans who were put off by the longer versions of the game. Stuart Robertson, the marketing manager of the ECB, proposed a 20-over-per-innings game, invented by New Zealand cricketer Martin Crowe , to county chairmen in 2001, and they voted 11–7 in favour of adopting
5925-537: 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
6004-676: Was held in Bangladesh. The 2016 ICC World Twenty20 was won by West Indies. In July 2020, the ICC announced that both the 2020 and 2021 editions had been postponed by one year due to the COVID-19 pandemic . In June 2021, the ICC expanded the Twenty20 World Cup from 16 to 20 teams starting from the 2024 edition onwards. Twenty20 cricket is claimed to have resulted in a more athletic and explosive form of cricket. Indian fitness coach Ramji Srinivasan declared in an interview with
6083-452: Was held in the West Indies in May 2010, where England defeated Australia by seven wickets. The 2012 ICC World Twenty20 was won by the West Indies, by defeating Sri Lanka at the finals. It was the first time in cricket history when a T20 World Cup tournament took place in an Asian country. The 2014 ICC World Twenty20 was won by Sri Lanka, by defeating India at the finals, where the tournament
6162-525: Was introduced to create a fast-paced game that would be attractive to spectators at the ground and viewers on television. The game has succeeded in spreading around the cricket world. On most international tours there is at least one Twenty20 match and all Test -playing nations have a domestic cup competition. When the Benson & Hedges Cup ended in 2002, the ECB sought another one-day competition to fill with
6241-542: Was later convicted of 13 of 14 charges laid against him by U.S. authorities and was sentenced to 110 years in prison, which he is currently serving in United States Penitentiary, Coleman in Coleman, Florida Twenty20 First-class cricket One Day International Limited overs (domestic) Twenty20 International Twenty20 (domestic) Other forms Twenty20 (abbreviated T20 )
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