Journal of Money Laundering Control最新文献

{"title":"Assessing tax collection efficiency of G20 countries: an analysis of tax potential, tax evasion and anti-corruption efforts","authors":"Usama Alqalawi, Ahmad A. Alwaked, Anas Al Qudah","doi":"10.1108/jmlc-04-2023-0082","DOIUrl":"https://doi.org/10.1108/jmlc-04-2023-0082","url":null,"abstract":"\u0000Purpose\u0000This paper aims to determine the tax potential of G20 countries and estimate the tax revenue they could generate. The study evaluates the effectiveness of tax revenue collection for G20 nations from 2008 to 2020 and investigates the relationship between tax collection efficiency and tax evasion. The study also examines the link between tax collection efficiency and a proxy for tax evasion through anti-corruption efforts.\u0000\u0000\u0000Design/methodology/approach\u0000The study assumes that tax collection is a function of gross domestic product (GDP), population, imports and price level. The study uses a stochastic frontier analysis to calculate the efficiency of tax collection. It estimates the loss in total tax collection due to inefficiency by comparing actual and best-practice tax collection.\u0000\u0000\u0000Findings\u0000The findings indicate that anti-corruption measures and technological advancements positively impact tax collection efficiency. Great Britain is identified as the most efficient country in tax collection, whereas Saudi Arabia is the least efficient. Germany has the highest losses in tax collection due to inefficiency, while Australia experiences the lowest losses in tax collection.\u0000\u0000\u0000Originality/value\u0000This study suggests several practical implications. For example, legislators and policymakers should pay more attention to anti-corruption policies. Also, tax agenesis should focus on better understanding variations in tax collection efficiency between countries and how they relate to tax evasion.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87813049","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 legal-criminal aspects of Iran’s anti-money laundering law in light of the FATF recommendations","authors":"Zeynab Malakouti Khah, Aref Khalili Paji","doi":"10.1108/jmlc-06-2023-0104","DOIUrl":"https://doi.org/10.1108/jmlc-06-2023-0104","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to examine Iran’s anti-money laundering (AML) system from a legal and criminal perspective and to understand the obstacles for international cooperation and the extent to which it aligns with financial action task force (FATF) standards. In this regard, three aspects are examined, namely, enforcement and guarantees of preventive measures, penalty for ML offences and the burden of proof.\u0000\u0000\u0000Design/methodology/approach\u0000This subject is examined through the legal–criminal perspective, which concentrates on the effectiveness of legal measures in tackling criminal issues by focusing on criminal law. The legal–criminal viewpoint considers criminal behaviour as a breach of societal norms and strives to combat it through legal channels.\u0000\u0000\u0000Findings\u0000Iran’s AML laws and regulations are partially compliant with the financial action task force (FATF) recommendations. However, the main obstacle is not the lack of sufficient laws, rather the lack of proper implementation of these laws. In addition, there are foundational shortages, such as the absence of a national risk document to guide an action based on current risks.\u0000\u0000\u0000Originality/value\u0000No comprehensive study has analysed Iran’s AML laws, referring to the three main aspects of enforcement and guarantees of preventive measures, penalties for ML offenses and the burden of proof. In general, there are few research papers on Iran’s AML laws owing to Iran’s high ranking in ML/TF. However, analysing Iran’s regulations can be helpful in taking a step towards effective international AML practices.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82985232","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":"Whistleblowing: interrogating the complexities of law, governance, and freedom of expression in developing nations","authors":"Adeoye Johnson Adetunji","doi":"10.1108/jmlc-05-2023-0096","DOIUrl":"https://doi.org/10.1108/jmlc-05-2023-0096","url":null,"abstract":"Purpose The purpose of this paper is to investigate the influence of the rule of law, corporate governance and freedom of expression on the effectiveness of whistleblowing initiatives. This study interrogates the effectiveness of whistleblowing as a tool in combating economic and financial crimes, in political and corporate environments where good governance and the rule of law are firmly established and enforceable and where defamation is decriminalised. Design/methodology/approach The author conducted a comprehensive review of relevant textbooks, focusing on legal theories and concepts related to the research topic. This study analysed scholarly journal articles to gain insights into the current debates and research gaps. The author discussed seminal court decisions that have influenced the legal landscape pertaining to the research topic and reviewed newspaper publications to understand public opinion and societal implications related to the research topic. Findings To ensure effective whistleblowing as a tool of gathering information in combating economic and financial crime, good governance must be promoted, supremacy of law must be upheld, freedom of expression must be safeguarded and defamation must be criminalised. Originality/value This paper addresses a significant gap in the literature by examining the impact of criminal libel on whistleblowing, an area that has received limited attention in previous studies. The findings of this study have significant implications for policymakers, as they shed light on importance of the rule of law, good governance, freedom of speech and decriminalisation of defamation on effective implementation of an effective whistleblowing laws and policies.","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135254825","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":"Corruption at country and corporate levels: impacts on environmental, social and governance (ESG) performance of Chinese listed firms","authors":"Haitian Wei, Rasidah Mohd‐Rashid, C. Ooi","doi":"10.1108/jmlc-06-2023-0102","DOIUrl":"https://doi.org/10.1108/jmlc-06-2023-0102","url":null,"abstract":"\u0000Purpose\u0000As a consequence of the proposal of the Carbon Neutral and Carbon Peak policy in 2020, the Chinese Government is paying more attention to developing sustainability performance. This study aims to assess the direct influence of country-level and corporate anti-corruption measures on environmental, social and governance (ESG) and its three dimensions, besides ascertaining the moderating role of firm size.\u0000\u0000\u0000Design/methodology/approach\u0000This study used the system generalized method of moments on a sample of 820 Chinese listed firms from 2012 to 2021.\u0000\u0000\u0000Findings\u0000The findings show that country-level and corporate corruption negatively affect ESG performance. Corporate anti-corruption measures have a more pronounced positive influence on the sustainability performance of small firms than large firms due to the limited resources, lower political position and weaker refusal power of small firms.\u0000\u0000\u0000Research limitations/implications\u0000The study has great implications for governments, corporate boards and ESG rating agencies. Government and corporate boards should mitigate the risks of country-level and corporate corruption to attain sustainable development goals. Rating agencies should add country-level and corporate corruption into the ESG evaluation system.\u0000\u0000\u0000Originality/value\u0000Some empirical results have proven that anti-corruption measures help reduce the emission of carbon dioxide, but few evidence shows how country-level and corporate corruption affect ESG and its three dimensions.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91075344","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":"How to identify norms, laws, and regulations that facilitate illicit financial flows and related financial crimes","authors":"Tiago Cardao-Pito","doi":"10.1108/jmlc-07-2023-0112","DOIUrl":"https://doi.org/10.1108/jmlc-07-2023-0112","url":null,"abstract":"\u0000Purpose\u0000Illicit financial flows are targeted by the United Nations’ (UN) sustainable development goals (SDGs). However, these illicit flows are not entirely understood. Furthermore, they can benefit from economic norms, laws and regulations that lack mechanisms to detect and penalize them. This paper aims to investigate whether a recent test, the embezzler test, can be used to identify regulatory architectures that facilitate illicit financial flows and related financial crimes.\u0000\u0000\u0000Design/methodology/approach\u0000This paper develops a more advanced version of the embezzler test in terms of definitions and practical implementation methodology.\u0000\u0000\u0000Findings\u0000In this test, the definition of embezzlement can be understood to be the occurrence of illicit financial flows crossing the boundaries of organizations and/or countries. This is a multistage test, which intentionally simulates illicit financial flows to observe how well equipped is the regulatory architecture to deal with other financial offences that are related with these flows, such as theft, money laundering, fraud, corruption, market manipulation and tax evasion.\u0000\u0000\u0000Research limitations/implications\u0000Future research can use the version of this test to stress test a large range of economic norms, laws and regulations.\u0000\u0000\u0000Social implications\u0000This test’s new version can assist achieve the UN SDGs’ illicit financial flow reduction target. Furthermore, it can be used to study both existing and proposed norms, laws and regulation.\u0000\u0000\u0000Originality/value\u0000To the best of the author’s knowledge, this is the first explicit test that has been presented to identify norms, laws and regulations that facilitate illicit financial flows and related financial crimes.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82663035","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":"Illegal wildlife trade: the critical role of the banking sector in combating money laundering","authors":"C. Lupton","doi":"10.1108/jmlc-06-2023-0105","DOIUrl":"https://doi.org/10.1108/jmlc-06-2023-0105","url":null,"abstract":"\u0000Purpose\u0000Illegal wildlife trade (IWT) is a transnational organized crime that generates billions in criminal proceeds each year. Yet, it is not regarded by many countries as a serious crime. There is also no general consensus on its recognition as a predicate offence for money laundering. In this regard, banks are misused in different ways to facilitate financial flows linked to IWT. This paper aims to illustrate the importance of the banking sector in combating money laundering relating to IWT. It also aims to demonstrate the need for a general recognition of IWT as a predicate offence for money laundering.\u0000\u0000\u0000Design/methodology/approach\u0000This study investigates the implementation of money laundering controls by banks in the illegal-wildlife-trade context. As background to this investigation, it provides an overview of IWT, which is followed by an exploration of some of the general characteristics of the banking sector, before discussing the relevant Financial Action Task Force (FATF) recommendations.\u0000\u0000\u0000Findings\u0000This study finds that the banking sector is well-placed to combat money laundering relating to the IWT and is, by virtue of its international nature and strong focus on compliance, able to be effective in preventing the use of the proceeds of IWT as well as in identifying broader trafficking networks. Moreover, the banking sector is well-equipped to develop appropriate platforms to facilitate the swift, easy and effective sharing of financial intelligence between banks at the local, regional and especially international level.\u0000\u0000\u0000Research limitations/implications\u0000This study draws on publicly available information on financial flows relating to IWT. Little data and research are available on the financial flows and consequently the money laundering techniques used in cases suspected of IWT.\u0000\u0000\u0000Originality/value\u0000There has been little scholarly research on the relationship between money laundering and the IWT as well as the financial flows of IWT in general. This study highlights some of the money laundering techniques used in relation to IWT by drawing on the works of various international organizations, including the FATF.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75076745","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":"What works in policing money laundering?","authors":"Branislav Hock, Mark D. Button, David Shepherd, P. Gilmour","doi":"10.1108/jmlc-07-2023-0109","DOIUrl":"https://doi.org/10.1108/jmlc-07-2023-0109","url":null,"abstract":"\u0000Purpose\u0000This paper aims to provide a comprehensive review of literature on policing money laundering to evaluate the quality of evidence presented in academic and grey literature. In doing so, this paper reflects upon what strategies and mechanisms work in preventing, detecting and disrupting money laundering.\u0000\u0000\u0000Design/methodology/approach\u0000To investigate the quality of evidence presented in academic and grey literature on money laundering, the authors have conducted a structured literature review of over 1,000 sources. The authors have then evaluated the quality of evidence of these sources by using three distinct methods, namely, the Maryland scale, research excellence framework and quality of empirical evidence framework.\u0000\u0000\u0000Findings\u0000This paper finds a large number of studies on money laundering meeting the highest academic quality standard. However, only a very small number of those studies include empirical evidence that policing measures actually work with no study able to demonstrate a correlation between money laundering measures and risk factors at any point in time.\u0000\u0000\u0000Originality/value\u0000This paper provides practical and theoretical insights into what works in money laundering and the role of scientific evaluations. It is particularly relevant for the successful implementation of anti-money laundering policy measures, including, for example, the UK’s Economic Crime Plan 2023–2026, which aspires to measure the progress and impact of policing in this area.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83256003","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":"Ethical implications for teaching students to hack to combat cybercrime and money laundering","authors":"T. Al-Tawil","doi":"10.1108/jmlc-01-2023-0014","DOIUrl":"https://doi.org/10.1108/jmlc-01-2023-0014","url":null,"abstract":"\u0000Purpose\u0000Malicious hackers are increasingly evolving with technology by developing advanced tools to infiltrate. They are looking at micro laundering via sites like PayPal or using job advertising sites, to avoid exposure. Micro laundering makes it possible to launder a large amount of money in small amounts through thousands of electronic transactions. Therefore, the purpose of this paper is to examine whether the ethical hacking pedagogy is both a feasible and effective approach to prepare information security professionals of the future to combat black hat hacking and other forms of unethical conduct in the cyberspace.\u0000\u0000\u0000Design/methodology/approach\u0000The paper will specifically explore the ethics and implications of teaching students how to hack. It examines the strengths and limitations of the ethical hacking pedagogy. The discussion will then form the basis for exploring whether ethical hacking pedagogy is logical and justifiable.\u0000\u0000\u0000Findings\u0000The research has examined whether the ethical hacking pedagogy is an initiative-taking and effective approach to preparing information security professionals. Teaching students to hack is the only feasible approach to preparing future cybersecurity professionals because such training will allow them to master technical skills necessary for penetration testing.\u0000\u0000\u0000Originality/value\u0000A dominant theme that emerged from the research is the inability to evaluate students’ intention and provide oversight after their graduation. Thus, professional networks and peer groups will play an instrumental role in sustaining students in an environment that fosters ethical conduct.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85485452","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":"A study of the underground banking system in Sri Lanka – a phenomenon of Boyle’s law","authors":"Dinesh Sivaguru, K. Tilakasiri","doi":"10.1108/jmlc-05-2023-0084","DOIUrl":"https://doi.org/10.1108/jmlc-05-2023-0084","url":null,"abstract":"\u0000Purpose\u0000The purpose of the study is to examine the available literature to comprehend what the underground banking system is, for what purposes this method is used and how policymakers should proceed to address this issue.\u0000\u0000\u0000Design/methodology/approach\u0000The approach involved conducting this study and combining it with a critical analysis of the available literature as well as the available historical data. The sources the study has explored include government documents, public hearings, academic articles, case studies and articles available on the internet.\u0000\u0000\u0000Findings\u0000The study revealed prevention of illegal proceeds is critical, still regulating one entity, is a phenomenon of Boyle’s law, “squeezing the balloon”. If one end of the balloon is squeezed, making the volume smaller, the pressure inside increases, making the un-squeezed part of the balloon expand out. The real issue is not how criminals transfer their illegal earnings; it is the criminals themselves. Hence, the policy decision on this issue needs to be carefully considered.\u0000\u0000\u0000Research limitations/implications\u0000Due to the complexity of the operating system of Undiyal, this study had a number of limitations, as do many others. Firstly, there are no records of the Undiyal agents or the volumes of transactions publicly available. However, comprehending the scope of the underground operation that exists in the country is quite difficult.\u0000\u0000\u0000Practical implications\u0000The study contributes to the academic researchers grasping what type of future research should be focused on in this area according to the study.\u0000\u0000\u0000Social implications\u0000From the point of view of its practical application, the study seeks to resolve social issues that the middle-class population experiences on a daily basis and that have a huge and adverse impact on GDP.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is an original contribution.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73675488","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":"Structural deterrents of combating white-collar money laundering in emerging economies: evidence from Sri Lanka","authors":"S. Jayasekara, K. Perera, R. Ajward","doi":"10.1108/jmlc-05-2023-0097","DOIUrl":"https://doi.org/10.1108/jmlc-05-2023-0097","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to discuss how agency conflicts between people and main government organs affect the combatting ability of white-collar money laundering in an emerging economy.\u0000\u0000\u0000Design/methodology/approach\u0000This paper uses a qualitative design under the philosophy of interpretivism. The case study research strategy is used inductively to investigate how structural limitations affect white-collar money laundering.\u0000\u0000\u0000Findings\u0000This study reveals that serious agency conflicts exist between public and main government organs which are detrimental to the rights of people to enjoy a crime-free society. First agency conflict of people and legislature intensifies as a result of limited understanding of the legislature and failure to take precautionary actions to develop an anti-money laundering and countering the financing of terrorism (AML/CFT) regime with evolving global standards. This delay has resulted in identifying Sri Lanka as a deficient AML/CFT regime twice. The second conflicts arise between people and the executive which is a serious conflict due to misuse of statutory power and failure to perform duties. The independence and integrity of administrative authorities who perform executive functions were inherent problems of implementing a sound AML/CFT regime. Lack of monitoring, nonavailability of an independent audit and inappropriate reporting channels were other encouraging factors of administrative organs to misuse statutory power. The third conflict between people and the judiciary was not intensified because the function was not so exposed to create agency conflicts. After all, an adequate number of cases had not proceeded to the judiciary due to inherent limitations as a result of intensified first two agency conflicts. The agency conflicts have intensified over the years and AML/CFT regime has been ineffective as a result of limited influence and understanding of the principal, people. Therefore, the principal has to influence the agents to make reforms in the AML/CFT regime to make the country a white-collar crime-free country.\u0000\u0000\u0000Research limitations/implications\u0000This study uses a case study strategy to assess the context of Sri Lanka as an emerging economy. It is recommended to take into consideration the contextual facts when the findings are applied to other jurisdictions.\u0000\u0000\u0000Originality/value\u0000This paper is an original work of the authors which discusses how agency conflicts arise between people and three main government organs in implementing a sound AML/CFT regime in Sri Lanka as an emerging economy.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90899145","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}