Journal of Money Laundering Control最新文献

{"title":"Shariah-compliant status and investors demand for IPOs: the moderating role of regulatory quality","authors":"W. Mehmood, Anis Ali, Rasidah Mohd‐Rashid, Attia Aman‐Ullah","doi":"10.1108/jmlc-03-2023-0059","DOIUrl":"https://doi.org/10.1108/jmlc-03-2023-0059","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to look at how Shariah-compliant status and Shariah regulation affect the demand for initial public offerings (IPOs) in Pakistan. The Shariah-compliant status, which is seen as a method that offers a credible signal to investors, may explain the anomaly in IPO demand.\u0000\u0000\u0000Design/methodology/approach\u0000This research used multivariate and quantile regression models to assess data from 85 IPOs issued on the Pakistan Stock Exchange between 2000 and 2019.\u0000\u0000\u0000Findings\u0000Shariah-compliant status has a considerable negative association with IPO demand. Nevertheless, there is a considerable positive association among Shariah regulation and IPO demand. Furthermore, the interaction among regulatory quality and Shariah-compliant status has a considerable strong influence on IPO demand. As a consequence, the findings show that Shariah-compliant firms might possibly attract the attention of investors. Investors were found to concur on the amicability of rigorous rules and permissible Shariah-compliance aspects.\u0000\u0000\u0000Research limitations/implications\u0000Future studies could analyse the financial ratio benchmark (cash and debt) to determine the Shariah-compliant status and Shariah regulation to better understand the problem of IPO demand in the context of Pakistan.\u0000\u0000\u0000Practical implications\u0000The outcomes of this research are useful for issuers and underwriters in comprehending the characteristics that influence high and early IPO success. Such knowledge may assist issuers and underwriters in responsibly planning and managing the IPO process.\u0000\u0000\u0000Social implications\u0000The results may be useful to investors looking for critical information in prospectuses to make the best choice when subscribing to IPOs in Pakistan.\u0000\u0000\u0000Originality/value\u0000This is one of the first studies to provide empirical data on the links among Shariah-compliant status, Shariah regulation and IPO demand in Pakistan. Furthermore, this research demonstrates the interaction impact of regulatory quality and Shariah-compliant status on IPO demand.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73726492","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":"Does institutional quality modulate the effect of capital flight on economic growth in sub-Saharan Africa?","authors":"T. Akinlo","doi":"10.1108/jmlc-02-2023-0026","DOIUrl":"https://doi.org/10.1108/jmlc-02-2023-0026","url":null,"abstract":"\u0000Purpose\u0000Sub-Saharan African (SSA) region has been battling illegal outflow of capital over the years, with little success recorded so far. Without adequate attention, unemployment, infrastructure deficiencies and inefficient capital might be worse in the future. The purpose of this study is to investigate if institutional quality mitigates the effect of capital flight (CF) on economic growth.\u0000\u0000\u0000Design/methodology/approach\u0000The panel data from 26 SSA countries spanning 1998 to 2018 are used. The analysis of this study was carried out through a two-step generalized method of moments technique. The principal component index is used to group the institutional quality/governance indicators into three categories: political governance, economic governance and institutional governance.\u0000\u0000\u0000Findings\u0000The study found that CF is harmful to the economic growth of the SSA region. The study also found that, among the indicators of institutional quality, only the rule of law and control of corruption stimulate economic growth. Contrary to expectation, the finding indicates that institutional quality does mitigate the effect of CF on economic growth in the SSA region.\u0000\u0000\u0000Originality/value\u0000This study provides an insight into the relevance of institutional quality in mitigating CF in sub-Saharan African region.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91016815","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":"Ponzi scheme like investment schemes in India – causes, impact and solution","authors":"S. Bhadra, K. Singh","doi":"10.1108/jmlc-02-2023-0040","DOIUrl":"https://doi.org/10.1108/jmlc-02-2023-0040","url":null,"abstract":"\u0000Purpose\u0000News items like “A whopping 2 lakh gullible investors were cheated…….” amply illustrate the extent of problems and hardships caused by financial frauds related to Ponzi schemes, collective investment schemes (CIS), unregulated deposit schemes, etc. In India, over the years, many Ponzi and unregulated investment schemes have taken place, causing huge economic and financial loss to Indian economy. This paper aims to examine why investment such schemes like Ponzi schemes and CIS become popular, how such schemes got operated in different periods and what could be done to safeguard the interests of investors.\u0000\u0000\u0000Design/methodology/approach\u0000The analysis is done based on secondary data and research work of various researchers, organisation and institutions, which are available in the public domain.\u0000\u0000\u0000Findings\u0000This paper has tried to analyse various characteristics of such fraudulent schemes, like their modus operandi, promotional activity, background of promoters and legal process involved in recouping financial loss of millions of investors. This paper also examines the demand-side factors that are responsible for popularity of those schemes in India. Noting the regulatory changes and other initiative taken by regulatory authorities to control the supply of unregulated investment schemes, this paper indicates potential actions, which could be undertaken to make people aware about the risks and issues related with such fraudulent schemes.\u0000\u0000\u0000Originality/value\u0000This paper gives an overview about various aspects of unregulated investment schemes, which have duped numerous people at different point of time. To the best of the authors’ knowledge, this research work is original and has not been published in any other journal.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87056129","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":"Crypto-asset market development: the role of country’s institutional quality","authors":"Blanka škrabić Perić, Ana Rimac Smiljanić, Ivana Jerković","doi":"10.1108/jmlc-02-2023-0038","DOIUrl":"https://doi.org/10.1108/jmlc-02-2023-0038","url":null,"abstract":"\u0000Purpose\u0000Crypto-asset can be traded on many different exchanges worldwide with servers located in countries with different financial characteristics and institutional surroundings. Trading volume on these servers varies considerably regarding the server’s location, even though the prices do not differ greatly. Crypto-asset markets are poorly regulated and, as such, may leave a place for potential fraudulent activities and be linked to corruption. This paper aims to examine the role of country’s institutions in attracting Bitcoin traders.\u0000\u0000\u0000Design/methodology/approach\u0000Assuming heterogeneity between countries where crypto-asset exchange servers are located, the Pool Mean Group Estimator is used.\u0000\u0000\u0000Findings\u0000Results indicate that, from institutional variables, corruption in the country attracts while internal and external conflicts repel investors. Additionally, the growth of global uncertainty and the decline in the local stock markets motivate investors to trade Bitcoin.\u0000\u0000\u0000Originality/value\u0000Previous research has empirically proved the importance of institutions’ quality for financial market development. This paper goes one step further and tries to empirically confirm the theoretical assumptions and investigate in detail the role of institutions in choosing servers in a particular country for Bitcoin trading.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74372341","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 legal perspective of corporate compliance governance to collusive bidding in China","authors":"Tingting Li, Mohd Zamre Mohd Zahir, Hasani Mohd Ali","doi":"10.1108/jmlc-02-2023-0044","DOIUrl":"https://doi.org/10.1108/jmlc-02-2023-0044","url":null,"abstract":"\u0000Purpose\u0000This study aims to make some contribution to the process of corporate compliance governance in China.\u0000\u0000\u0000Design/methodology/approach\u0000This paper adopts qualitative method, literature research, case analysis and comparative methods to explore the Chinese compliance governance model in the field of collusive bidding crimes.\u0000\u0000\u0000Findings\u0000In the process of criminal prosecution of enterprises suspected of committing crimes, the judicial authorities should promote the restoration of normal production and operation of corporate enterprises by promoting the construction of corporate compliance, which is conducive to solving the difficult problem of attribution of collusive bidding crimes. In addition, corporate compliance under prosecutorial supervision is also conducive to optimizing the regulatory path of collusive bidding and achieving more effective prevention and control of unit crimes in the mode of co-regulation between the state and corporate.\u0000\u0000\u0000Originality/value\u0000Compliance governance corporate crime is at a nascent stage in China, and this study seeks to provide some reference for future compliance review governance in China through the analysis of specific business crime cases.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78707517","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: Non-fungible tokens: CryptoPunks and the art of wash trading","authors":"P. Gilmour","doi":"10.1108/jmlc-07-2023-175","DOIUrl":"https://doi.org/10.1108/jmlc-07-2023-175","url":null,"abstract":"","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81239426","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":"Practical considerations regarding the implementation of economic sanctions by Swiss financial service providers","authors":"F. Teichmann, Chiara Wittmann","doi":"10.1108/jmlc-12-2022-0167","DOIUrl":"https://doi.org/10.1108/jmlc-12-2022-0167","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to discuss the practical problems which Swiss financial service providers face following the government’s decision to implement economic sanctions.\u0000\u0000\u0000Design/methodology/approach\u0000The practical problems of implementation are based on the identified methods of circumvention in the first author’s empirical research on the mechanisms of money laundering.\u0000\u0000\u0000Findings\u0000Secure anti-money laundering mechanisms promote the smooth implementation of sanctions. Despite the novelty of specific sanctions requirement, it is possible to have a supportive framework in place. Also, there remain a number of practical hurdles for Swiss banks to overcome, including the pressure on sanction alignment and the significant threat of noncompliance.\u0000\u0000\u0000Originality/value\u0000The sanctions imposed on Russia in 2022 are largely examined either from a broad political perspective or from the finite details of a business consultancy perspective. This paper aims to reconcile both perspectives to illustrate how the concrete problems of sanction implementation becomes evident in the wider political picture.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87939442","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":"Uncovering the depths of trade-based money laundering: evidence from a seaport in Bangladesh","authors":"Md Noor Uddin Milon, Habib Zafarullah","doi":"10.1108/jmlc-03-2023-0063","DOIUrl":"https://doi.org/10.1108/jmlc-03-2023-0063","url":null,"abstract":"\u0000Purpose\u0000Money laundering (ML) is a major criminal offence stemming from unethical practices by personnel on the ground at Chattogram Port, an important import and export facility in Bangladesh. Because money can be more easily laundered through imports, it is necessary to investigate the dubious process in this sector. This study aims to identify the items most regularly used for easy ML and the factors contributing to their vulnerability.\u0000\u0000\u0000Design/methodology/approach\u0000This research uses a qualitative approach and analyses information from primary sources. Data is obtained from customs officials, port authority personnel, importers and customs brokers through semi-structured questionnaires. Although there are many techniques for ML, this study only found three most overwhelming: under-invoicing, over-invoicing and misdeclaration. A few case studies have been used based on newspaper reports and the internet to triangulate the qualitative data.\u0000\u0000\u0000Findings\u0000Four import items – food products, garments, capital machinery and chemicals – have a higher risk of ML. This study also revealed that money launderers prefer under-invoicing food and garment items. Misdeclaration is more commonly associated with capital machinery and chemical items. Over-invoicing, on the other hand, is only prevalent in government purchases. The port authorities need to pay particular attention to these issues.\u0000\u0000\u0000Research limitations/implications\u0000As ML is an ongoing activity that changes over time, the findings of this research are circumscribed by the data collected at a single point in time. Additionally, this research did not consider alternative laundering methods.\u0000\u0000\u0000Practical implications\u0000The research results can provide a basis for creating effective anti-money laundering (AML) strategies to assist with sustainable economic growth.\u0000\u0000\u0000Social implications\u0000Developing effective AML measures can help combat corruption and establish good governance in the country and support human well-being.\u0000\u0000\u0000Originality/value\u0000This paper presents original research findings based on technical analysis. The Chattogram Port Authority and the National Board of Revenue have accepted and used the main findings in a collaborative action plan to tackle ML. The Bangladesh Bank, the country’s central bank, has also incorporated the necessary guidelines and regulations into the Money Laundering Prevention Act, 2012.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87637124","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":"Financial opacity and financial secrecy: lessons for Nepal","authors":"Abhiyan Upadhyay","doi":"10.1108/jmlc-03-2023-0049","DOIUrl":"https://doi.org/10.1108/jmlc-03-2023-0049","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to understand the financial opaqueness established through offshore businesses and financial secrecy through the requirements of information exchanges, and their deadly combination for facilitating money-laundering activities and tax evasion. It also puts into light some key recommendations for a country like Nepal that has been struggling to put adequate efforts into understanding financial opacity and secrecy.\u0000\u0000\u0000Design/methodology/approach\u0000This paper navigates through global issues on layering through opaque corporate structures, and mechanisms required for information exchange so as to figure out solutions and challenges to address them by developing countries like Nepal, with specific actions pertaining to Nepal.\u0000\u0000\u0000Findings\u0000Understanding financial opacity and secrecy is a prerequisite to tackling financial crimes. While focusing on global solutions and inherent challenges regarding such issues, concerted efforts are required to capacitate a country on contextual matters.\u0000\u0000\u0000Originality/value\u0000This work is an original work with an analysis of a global issue in an interconnected world with solutions catered to the local contexts of Nepal.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84664120","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":"Exploring anti-corruption education in Malaysian educational institutions","authors":"N. Mohammed, Norziana Lokman, Norazida Mohamed, Norsuhaily Abu Bakar","doi":"10.1108/jmlc-02-2023-0037","DOIUrl":"https://doi.org/10.1108/jmlc-02-2023-0037","url":null,"abstract":"\u0000Purpose\u0000From 2000 to 2021, the Malaysian corruption perception index demonstrated a declining tendency, identifying Malaysia as a highly corrupt nation. Corruption in the nation has become a social cancer that has impacted the workplace and political climate. Using Dewey’s (1937) theory of education and social change, this paper argues that anti-corruption education is a tool for reforming the corruption culture of a nation. Consequently, the purpose of this study is to explore and understand the current anti-corruption education in Malaysian educational institutions.\u0000\u0000\u0000Design/methodology/approach\u0000The results of this study were derived from a qualitative content analysis of 20 Google News articles, an interview with the sole implementation agency, the Malaysian Anti-Corruption Commission (MACC) and a literature assessment of MACC publications. Due to a dearth of preceding study and journal publications on the topic, this type of qualitative content analysis of news has been applied in prior studies.\u0000\u0000\u0000Findings\u0000The results indicate that anti-corruption education has been implemented in the primary, secondary and higher education institutions in Malaysia. Nonetheless, the concept and implementation are inadequate, superficial and insufficient. The analysis advises more inclusive techniques for delivering anti-corruption education for social transformation.\u0000\u0000\u0000Originality/value\u0000Prior research has focussed on laws and regulations to prosecute the corrupt, but has underrated the ability of education to alter the corruption culture. To the best of the authors’ knowledge, this is the first journal paper, written on anti-corruption education in Malaysia. This study sets the way for further anti-corruption education studies in the future. This line of research will provide insights for the nation’s policymaking, which aims to create a nation free of corruption and capable of sustaining itself.\u0000","PeriodicalId":46042,"journal":{"name":"Journal of Money Laundering Control","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84855697","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}