Journal of Money Laundering Control最新文献

{"title":"Anti-corruption reporting: a review empirical literature","authors":"Imen Khelil, Hichem Khlif, Imen Achek","doi":"10.1108/jmlc-03-2024-0039","DOIUrl":"https://doi.org/10.1108/jmlc-03-2024-0039","url":null,"abstract":"Purpose\u0000This review summarizes the empirical literature dealing with anti-corruption disclosure as this specific type of disclosure has attracted a great deal of attention in accounting literature.\u0000\u0000Design/methodology/approach\u0000Keywords used to collect relevant papers from numerous electronic databases (e.g. Science Direct, Emerald, Wiley-Blackwell, Springer and Taylor and Francis) include “anti-corruption reporting” “anti-corruption disclosure”. The final sample encompasses a set of 35 empirical studies published between 2015 and the beginning of 2024.\u0000\u0000Findings\u0000The summary of reviewed studies suggests that anti-corruption empirical studies are mainly cross-country investigations. Two streams of research are identified: (i) the determinants of anti-corruption disclosure and (ii) the economic consequences of anti-corruption reporting. With respect to the first stream of research, six main categories of determinants are identified (corporate characteristics, corporate governance attributes, informal institutions, stakeholders’ pressures, country institutional effect and regulation effect). With respect to the second stream of research, findings show that anti-corruption reporting is negatively associated with profitability, reduces earnings management and enhances corporate social reputation.\u0000\u0000Practical implications\u0000With respect to regulators, this review sheds light on the importance of anti-corruption disclosure in the fight against corruption. It also suggests that the adoption of some regulations like the Directive 2014/95/EU in the European Union or the 2010 UK Bribery Act have contributed to more transparency. With respect to investors, the existence of some determinants of anti-corruption reporting (e.g. United Nations Global Compact membership, cross-listing, multinationality, board independence) may signal the adequacy of corporate reporting policy and that management is following an adequate strategy to fight corruption and enhance transparency.\u0000\u0000Originality/value\u0000This review offers future research avenues for accounting scholars with respect anti-corruption disclosure literature.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141347565","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Economic cybercrime in the diaspora: case of Ghanaian nationals in the USA","authors":"Yushawu Abubakari, Awurafua Amponsaa Amponsah","doi":"10.1108/jmlc-03-2024-0047","DOIUrl":"https://doi.org/10.1108/jmlc-03-2024-0047","url":null,"abstract":"\u0000Purpose\u0000This study aims to delve into economic cybercrime within the African diaspora, with a specific focus on Ghanaian nationals residing in the USA. It aims to shed light on the nuanced and unique approaches that diasporic actors adopt to execute economic cybercrimes, especially online frauds.\u0000\u0000\u0000Design/methodology/approach\u0000Drawing on press releases and official indictments collected from the U.S. Department of Justice, the study adopted content analysis. Through this approach, the study outlines its findings\u0000\u0000\u0000Findings\u0000The analysis reveals patterns in economic cybercrimes among Ghanaians abroad. Notably, the findings suggest that diasporic individuals often work with local accomplices to perpetrate various economic cybercrimes, with money laundering being particularly prevalent among those living outside their home country. This underscores the profound influence of geographical location on the choice of cybercriminal activities. Moreover, the research reveals that diasporic actors use several tactics, including adopting false identities to interact with victims and the creation of sham companies for laundering money. Additionally, demographic characteristics such as age and gender seem to significantly influence the involvement of diasporic individuals in economic cybercrimes.\u0000\u0000\u0000Research limitations/implications\u0000The research was primarily based on press releases and official indictments within the USA. Although these sources offer substantial insight into the rise of cybercrime among Ghanaian diaspora members, their focus on specific data types and geographical regions might constrain our comprehension of the nuances of this phenomenon, particularly across various diasporic groups and regions. Hence, future research could enhance our understanding by conducting fieldwork, not just in the USA but also in other areas using primary data to delve deeper into the issue of cybercrime within the diaspora.\u0000\u0000\u0000Practical implications\u0000The study’s findings have implications for individuals, organizations and policymakers alike. By understanding the strategies of economic cybercrime offenders, as demonstrated in this research, individuals can be better equipped to navigate digital technologies for both personal and business purposes. Moreover, policymakers and government agencies can use these insights to develop policies aimed at mitigating the spread of economic cybercrimes, particularly within diasporic communities.\u0000\u0000\u0000Originality/value\u0000The paper stands out for its innovative approach and scope. While numerous studies have explored cybercrime activities, the prevalence among diasporic actors remains underexamined. Through its methodology and scope, this paper opens avenues for further research into the phenomenon of cybercrime within diasporic communities.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141348222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Donation-based crowdfunding the future of terrorist financing or a method counteracted ex-ante by European authorities","authors":"Daniel Cookman","doi":"10.1108/jmlc-12-2023-0199","DOIUrl":"https://doi.org/10.1108/jmlc-12-2023-0199","url":null,"abstract":"\u0000Purpose\u0000This study aims to analyse the adequacy of current and proposed European legislative measures for the mitigation and prevention of the use of donation-based crowdfunding to enable terrorist-related financing.\u0000\u0000\u0000Design/methodology/approach\u0000This study examines current and proposed European legislative and academic literature. To provide analysis on the current terrorist financing risks posed by donation-based crowdfunding.\u0000\u0000\u0000Findings\u0000The activity of European donation-based financing is not in theory completely removed from AML/CFT prevention, mitigation and reporting standards. European credit institutions and payment service providers are required to implement AML/CFT internal controls that target their entire customer base, which includes situations whereby an individual and/or individuals elect to engage in donation-based funds transfer. Current European crowdfunding and proposed crowdfunding AML/CFT standards target investment and consumer credit provision by credit and financial institutions and credit and mortgage intermediaries. Donation-based terrorist financing will likely remain a consideration for subversive groups and lone wolf individuals seeking integrated financing. European credit institutions and payment service providers will be required to cooperate both internally and externally on a national and transnational basis to prevent the materialisation of donation-based financing risks, ex-ante.\u0000\u0000\u0000Originality/value\u0000A desktop review composed by the author.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141346284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Editorial: FATF greylisting: time to revisit the approach","authors":"Louis de Koker","doi":"10.1108/jmlc-07-2024-206","DOIUrl":"https://doi.org/10.1108/jmlc-07-2024-206","url":null,"abstract":"","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141228516","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Money laundering and terrorist financing risks and democratic governance: a global correlational analysis","authors":"Amidu Kalokoh","doi":"10.1108/jmlc-09-2023-0151","DOIUrl":"https://doi.org/10.1108/jmlc-09-2023-0151","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to examine the association between money laundering (ML)/terrorist financing (TF) risks (hereafter, money laundering risks) and democratic governance across 117 countries.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A cross-sectional design was used to examine the association between ML risks and democratic governance by a quantitative approach. The findings are based on annual ratings of 117 countries on ML/TF risks and democracy while controlling for criminality and peace. The data was compiled from the Basel Anti-Money Laundering/Countering Financing Terrorism Risks Index, the Economic Intelligence Unit (Democracy Index), the Global Initiative against Transnational Organized Crimes (Criminality Index) and the Institute for Economics and Peace Index for 2020.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>A multiple linear regression model found a statistically significant negative association between democratic governance and ML risks (<em>B</em> = −0.354, <em>t</em> = −7.454, <em>p</em> = &lt;0.001) and a significant positive association between criminality and ML risks (<em>B</em> = 0.242, <em>t</em> = 2.692, <em>p</em> = 0.008).</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>A cross-sectional design cannot determine causal inferences and generalization (Levin, 2006). The study only used a year to examine the hypothesis of a negative correlation between ML risks and democratic governance, thus making generalization difficult.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Extant literature examined ML, terrorism and AML diversely. There was a need to estimate the association between ML risks and democratic governance, especially globally, during a global crisis like COVID-19, when democratic principles, such as the rule of law, transparency and accountability, are challenged. Many personnel were laid off, thus limiting supervision for ML and TF. This study presents evidence of this association.</p><!--/ Abstract__block -->","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141166226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"FIU operational effectiveness – findings and observations from the Asian Development Bank perspective","authors":"Cheong-Ann Png","doi":"10.1108/jmlc-02-2024-0024","DOIUrl":"https://doi.org/10.1108/jmlc-02-2024-0024","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to examine the specific findings on the level of technical compliance and operational effectiveness of the national financial intelligence units (FIUs) in 55 members of the Asian Development Bank (ADB) under the mutual evaluations carried out by the Financial Action Task Force (FATF) and its regional bodies (also referred to as FATF-style regional bodies) in connection with the current international standard for combating money laundering and terrorism financing (i.e. the FATF recommendations). It also provides three observations for enhancing the use of financial information and intelligence.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Review of published reports on country mutual evaluations from the FATF and its regional bodies.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>A majority of the FIUs from these 55 members of the ADB were rated around the “mid-range” under the FATF methodology used for the mutual evaluations (i.e. “compliant and substantially effective”, “largely compliant and substantially effective”, “compliant and moderately effective” and “largely compliant and moderately effective”). Observations were also provided on cross-cutting areas for enhancing the use of financial information and intelligence.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>FIU operations are key to combating money laundering and terrorism financing, and this examination of the level of technical compliance with the international standard and related operational effectiveness provides an useful account of current developments in this space and suggestions for further actions by relevant national authorities and provision of country technical assistance and support by donor partners.</p><!--/ Abstract__block -->","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140838290","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Painting the picture: why art dealers should be added to Australia’s designated non-financial businesses and professions definition","authors":"Sophie Martin","doi":"10.1108/jmlc-01-2024-0020","DOIUrl":"https://doi.org/10.1108/jmlc-01-2024-0020","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to demonstrate to lawmakers that the addition of art dealers to the designated non-financial businesses and professions (DNFBPs) definition would provide Australia with more comprehensive protection against money laundering within the art market.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The paper opted for an exploratory study using doctrinal and jurisdictional comparative analysis that focused on arguments for and against the inclusion of art dealers in respective DNFBPs definitions. Evaluation of these arguments concludes that art dealers should be included in Australia’s DNFBPs definition and subject to anti-money laundering (AML) regulation.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The current omission of art dealers from Australia’s DNFBPs definition perpetuates AML vulnerabilities within the Australian art market.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This paper fulfils an identified need to study high-value dealers not included in Australia’s DNFBPs definition and provide arguments for and against the inclusion of Australian art dealers in the listed DNFBP.</p><!--/ Abstract__block -->","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140838149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Towards definitive categories for online video game money laundering","authors":"James Higgs, Stephen Flowerday","doi":"10.1108/jmlc-12-2023-0193","DOIUrl":"https://doi.org/10.1108/jmlc-12-2023-0193","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to investigate how best to classify money laundering through online video games (i.e. virtual laundering). Currently, there is no taxonomy available for scholars and practitioners to refer to when discussing money laundering through online video games. Without a well-defined taxonomy it becomes difficult to reason through, formulate and implement effective regulatory measures, policies and security controls. As such, efforts to prevent and reduce virtual laundering incidence rates are hampered.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This paper proposes three mutually exclusive virtual laundering categorizations. However, instead of fixating on the processes undergirding individual instances of virtual laundering, it is argued that focusing on the initial locale of the illicit proceeds provides the appropriate framing within which to classify instances of virtual laundering. Thus, the act of classification becomes an ontological endeavour, rather than an attempt at elucidating an inherently varied process (as is common of the placement, layering and integration model).</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>A taxonomy is proposed that details three core virtual laundering processes. It is demonstrated how different virtual laundering categories have varied levels of associated risk, and thus, demand unique interventions.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, this is the first taxonomy available in the knowledge base that systematically classifies instances of virtual laundering. The taxonomy is available for scholars and practitioners to use and apply when discussing how to regulate and formulate legislation, policies and appropriate security controls.</p><!--/ Abstract__block -->","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140811035","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Willingness to pay for insurance against mobile money fraud: evidence from Ghana","authors":"Rebecca Nana Yaa Ayifah, Adriana Apawo Adda","doi":"10.1108/jmlc-10-2023-0167","DOIUrl":"https://doi.org/10.1108/jmlc-10-2023-0167","url":null,"abstract":"\u0000Purpose\u0000The rapid growth of the mobile money industry has been matched by a rise in mobile money fraud. The technology required to apprehend perpetrators of such fraud is nonexistent in most developing countries. Hence, the need for individuals to be willing to pay for insurance against such frauds is crucial. This paper aims to examine individuals’ willingness to pay for insurance against mobile money fraud in Ghana.\u0000\u0000\u0000Design/methodology/approach\u0000The paper uses nationally representative data collected from 4,266 adults (persons 18 years and above) in Ghana. Individuals’ willingness to pay premiums for protection against mobile money fraud was elicited by a single-bound dichotomous choice and open-ended contingent valuation designs.\u0000\u0000\u0000Findings\u0000On average, 24.34% of Ghanaians are willing to pay premiums for insurance against mobile money frauds, with more men (26.37%) being willing than women (22.56%). Similarly, the average monthly premium that men are willing to pay for protection against mobile money fraud is GH¢32.16 (US$8.16), while that of women is GH¢22.5 (US$5.62). Furthermore, the results show that years of schooling, income, previous fraud experience, and using the accounts for saving are all positively associated with willingness to pay. However, using other networks apart from MTN has a negative association with willingness to pay.\u0000\u0000\u0000Originality/value\u0000To the best of our knowledge, this is the first study that examines willingness to pay for insurance against mobile money fraud. Thus, this is the first that estimate quantitatively how much mobile account holders will pay as premiums for insurance against mobile money fraud.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140739064","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The admissibility of illegally obtained evidence in cases involving money laundering offences: a Malaysian perspective","authors":"Karunanithi Kanagaraj, Ramalinggam Rajamanickam","doi":"10.1108/jmlc-01-2024-0005","DOIUrl":"https://doi.org/10.1108/jmlc-01-2024-0005","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this paper is to explore and evaluate the current legal position on the admissibility and exclusion of illegally obtained evidence in money laundering cases.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A thorough exploratory analytical analysis signifies that such illegally obtained evidence from money laundering offences is admissible, provided it does not undermine the administration of justice or the right to a fair trial.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>By virtue of the lack of written or codified rules governing the admissibility and exclusion of illegally obtained evidence in cases involving money laundering, the rule of admissibility remains the primary foundational principle for the governance of the admissibility and exclusion of illegally obtained evidence in money laundering cases.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The Malaysian Criminal Justice System has historically relied on the long-standing admissibility principles to admit and exclude illegally obtained evidence. For decades, courts have used their discretion to admit illegally obtained evidence based on the relevancy test, and they have further demonstrated to use the same discretion to exclude gravely prejudicial evidence. Evidence obtained illegally but if relevant to the matter in issue is deemed admissible. Evidence derived from an act associated with unlawful activities or a predicate offence in money laundering may be obtained illegally, which may influence the prosecution case and conversely, defend the accused’s rights to a fair trial.</p><!--/ Abstract__block -->","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140573963","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}