Search results

This study aims to assess terrorism activities to identify measures required to mitigate the rise of terrorism activities and their metamorphosis into organised criminal activity through the prevention, disruption and dismantling of sources of financing terrorism.

A qualitative methodology was adopted for this study using descriptive synthesis from recent publications and reports of reputable organisations, i.e. relevant grey literature, key informant interview and a focus group discussion. This triangulation approach was used to cross-validate the findings.

The findings revealed that terrorism financing is most likely linked to organised crime for generating revenues and is further used to finance the activities of terrorists.

Terrorists operate from places with little or no presence of governance and, better still, ungovernable spaces for carrying out legitimate businesses, raising internally generated revenues from protection fees, ransoms and taxes. This space further allows domestic collaboration with local criminal gangs to exploit natural mineral resources. If the market for these resources is across borders, international or transnational criminal groups collaborate with terrorists to move the goods and assist with financial services for the generated proceeds.

This study assessed the emerging links between terrorism financing and organised crime in Nigeria.

Transaction laundering has become an increasingly intricate and rampant form of financial misconduct in the age of digital commerce. This research paper conducts an exhaustive examination of this issue, categorizing the various techniques criminals use to highlight areas where existing risk management practices could be further refined. Amid escalating regulatory scrutiny of both financial and nonfinancial entities, the paper stresses the implications of not meeting regulatory standards. As a novel contribution, this study advocates for a shift in risk management strategies. It argues that entities under obligation should harness advanced technological methods to counter transaction laundering challenges effectively. The study serves as a relevant guide for online businesses aiming to strengthen their measures against transaction laundering. For future work, the potential effectiveness of technology-driven countermeasures deserves further scrutiny.

This study used a conceptual legal research method, using a library-based doctrinal legal research approach with a conceptual legal perspective, drawing from existing literature. This study reviewed primary and secondary legal sources, including case law and provisions of the Money Laundering (Prohibition) (Amended) Act, 2012, and the Terrorism (Prevention) Act 2013 (as amended). This study also assessed the provisions of the Economic and Financial Crimes Commission (Establishment) Act, Laws of the Federal Republic of Nigeria, 2004. This research further incorporated a blend of archival and secondary legal sources. This study conducted comparative analyses, examining the legal frameworks of Canada, the UK, Hong Kong and China alongside Nigeria to identify potential lessons for enhancing Nigeria’s legislation concerning money laundering and terrorism financing. This study also assessed problems and derived insights from the study’s findings. This research method was chosen to establish the credibility of the findings regarding the issues of money laundering and terrorist financing.

The analysis uses a comprehensive network dataset, encompassing ties among individuals and businesses in the Netherlands from 2005 to 2019. It integrates administrative data, including family ties, shared bank accounts and employment history, with corporate information and ownership relations from the Chamber of Commerce. Criminal data related to police interventions, legal convictions and suspicious money laundering transactions are linked to these networks. This unique approach overcomes the scarcity of large empirical datasets in criminological research, offering valuable insights into criminal network behavior and dynamics. Understanding how criminal networks adapt to anti-money laundering policies aids regulatory authorities in designing more effective and efficient measures while also enhancing the tools available to enforcement authorities for detection and investigation.

AML policies are often criticized for their high costs relative to the perceived benefits. This paper's method avoids dark number estimations and relies on high-quality administrative data. The theoretical contribution includes an examination of specialization, competition and collaboration within criminal networks. The empirical aspect uses a unique dataset and emerges as a methodology for evaluating the effects of AML policy measures using temporal cluster analysis.

The purpose of this study is to exploration potential money laundering crimes with virtual currency facilities in Indonesia. Money laundering using crypto is the process of disguising the origin of money obtained illegally. Then, the perpetrator transfers it to a legitimate business. Virtual money then started to become a phenomenon in society since the emergence of cryptocurrencies as a form of technology development of e-commerce activities.

This research method is normative law which is prescriptive. The data collection technique used is document study or literature study by collecting primary and secondary legal materials.

The results of this study show that the bitcoin virtual currency has the potential to act as a means of money laundering. There are technologies and online platforms that are moving with more sophisticated methods. Through bitcoin exchanges, it has the greatest potential for money laundering. The usage of virtual currency (cryptocurrency) by those who commit money laundering offenses is responsible for the actions’ severe negative effects on the State of Indonesia.

To the best of the author’s knowledge, this is the first study conducted in Indonesia that explores potential money-laundering crimes using virtual currency facilities.

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.

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).

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.

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.

This paper aims to elucidate the responsiveness of China’s judicial system in addressing the challenges of identifying online illegal fund-raising crimes that have emerged in recent years. This study systematically evaluates the efficacy and potential pitfalls of legal guidelines contained in judicial interpretations, such as holistic determination, sampling verification and presumption of the nature of funds. In addition, the research endeavors to propose pertinent recommendations for refining the existing judicial rules.

This research mainly uses a doctrinal methodology, focusing on the principal judicial interpretations formulated by the Supreme People’s Court and other central judicial entities in China. The scope encompasses the realm of online illegal fund-raising crimes as well as other cybercrimes. The analytical framework involves a comprehensive examination of these authoritative judicial documents, coupled with a theoretical and critical analysis of relevant academic materials.

This research underscores that while judicial interpretations serve as an effective legal strategy to confront the challenges posed by online illegal fund-raising crimes, their implementation introduces a nuanced landscape. These legal guidelines, often emanating from diverse judicial departments and tackling specific issues, carry the inherent risk of giving rise to new complexities and fostering inconsistency. Judicial authorities shall exercise prudence in both the formulation and application of these guidelines, ensuring their harmonization with existing legal norms and fundamental legal principles.

This research constitutes a critical and comprehensive examination of judicial interpretations in China pertaining to online illegal fund-raising crimes. It offers valuable insights into the country’s judicial interpretation system and its legal responses to financial crimes. The paper serves as a valuable resource for academics, law enforcement professionals, policymakers, legislators and researchers.

The purpose of this paper is to find out the role and factors that lead to efforts by banking institutions to deal with money laundering by using the principle of knowing your customer.

This research method uses a sociological juridical approach and descriptive analysis in analyzing the data.

The results of the study found that the implementation of the principle plays a role in identifying each transaction, and if there is a transaction that is considered suspicious, each bank is required to report the transaction to the center for reporting and analysis of financial transactions.

Banks must reduce the risk of being used as a means of money laundering by knowing customer identities, monitoring transactions, maintaining customer profiles and reporting suspicious transactions made by parties using bank services. The application of the know your customer principle (KYCP) is based on the consideration that KYCP is not only important in the context of eradicating money laundering but also in the context of implementing prudential banking to protect banks from various risks in dealing with customers.

To the best of the author’s knowledge, this is first empirical study of banking in Indonesia that conduct money laundering crimes through application of KYCPs.

This paper aims to provide authorities managing free trade zones, business enterprises, financial institutions and dedicated free zone customs, police and immigration command assigned to deal with aspects of movement of goods and persons in and out of the free zones with a clear understanding of the cross-border financial crime risks associated with the African Continental Free Trade Area and the risk control measures that combines human intelligence with advanced technology to combat cross-border financial crimes in the African Continental Free Trade Area.

A range of research activities would be used in this study. In addition to a sweeping literature review of academic, official studies and media writings, the main focus is on critically evaluating and analysing primary data by searching and collecting statutes, court cases, administrative rules and regulations and policy documents.

This paper identified bribery and corruption; modern slavery; and trade-based money laundering as the financial crime risks that are of priority concern to African Continental Free Trade Areas and demonstrated how countries can assess and mitigate these risks through adequate policies, procedures and controls including appropriate compliance management arrangement and adequate screening procedures to ensure high standards when hiring employees; corporate transparency; training on managing incidents of modern slavery, forced labour and third-party exploitation; and appropriate monitoring framework for trade-based money laundering activities.

While many authors have written research papers on intra-African trade, none of those research papers explained how countries can assess and mitigate financial crime risks in free trade zones. This research paper describes the ways in which cross-border financial crime risks can be assessed and adequately addressed by the authorities managing free trade zones. This research paper analyses the risk assessment topic in line with the African Continental Free Trade Area with a focus on free trade zones in Nigeria. This research paper would help authorities managing free trade zones, commercial organisations and business enterprises to identify, prevent and mitigate cross-border financial crime risks. Zone managements and business enterprises that implement the risk-based approach, in line with the guidance given in this research paper, will be well-placed to avoid the consequences of inappropriate de-risking behaviour.

This study aims to estimate the amount of money laundering (ML) with multiple proxy approaches and measure the effects of ML on various indicators of the economic and financial sectors. Theoretical justifications are recruited from the parasite theory of organised crime.

A quantitative research methodology was used on a balanced panel data set to test the study’s hypothesis through generalised method of moment (GMM). The study sample consisted of 77 countries, and the data was collected for 15 years (2005–2019).

A study has found that 1.23% of global gross domestic product is laundered yearly, and there is no noticeable decline in ML activities. Further study has also found that ML has devastating effects on countries, government revenue, foreign investment, economic development, political and peace conditions, bank liquidity, interest rate volatility and exchange rate volatility. The study has not witnessed the negative consequence of ML on countries’ inflation rates.

Estimates of the study guide policymakers about the volume of resources fleeing and helps them to decide the level of response needed. Further findings help them prioritise the response system according to the area most affected.

This study is an original contribution by the authors and has studied the effects of ML by computing the amount of ML by four different proxies.

Scams are indeed malicious attempts to influence people and can take many forms, including online scams. With the increasing availability of technology, scammers have more tools at their disposal to create convincing and sophisticated communications that appear to come from legitimate sources, such as emails, text messages or social media posts. These scams can be designed to trick individuals into clicking on malicious links, downloading malware or ransomware or providing sensitive information such as login information, financial information or personal details. Scammers often use social engineering techniques to persuade their targets to take specific actions, such as creating a sense of urgency, offering a reward or prize or posing as a trusted authority. These tactics can be highly effective, particularly if the target is unaware of the warning signs of a scam or is unfamiliar with how to protect themselves from online fraud. This paper aims to explore the extent and nature of this problem and evokes the concern that the general public is vulnerable and susceptible to scams if they are not resilient and aware. This paper also explores why victims fall for online scams and uncovers preventive measures to enable a direction in tacitly strategizing ways to create more impactful and effective awareness campaigns.

This study explores these aspects through a holistic qualitative approach. Using in-depth interview techniques with six victims, six non-victims, four law enforcement officers, four scammers and seven stakeholders from various agencies such as banks, telecommunication agencies and the Malaysian Communications and Multimedia Commission involved in combating the issue of scams.

The findings generally revealed that participants who were victims of scams felt Malaysians were susceptible to scams, easily fooled and had a nonchalant attitude. Most participants also highlighted that public safety is important for ensuring a high quality of life for citizens that should work closely between the government and non-government agencies, including effective law enforcement and crime prevention strategies.

The uniqueness of this study is the feedback from scammers themselves and their input towards authority and victims. Overall, the respondents provide their views drawing strength from the ever-changing technological background as well as the susceptibility of security features and vulnerability of human engagement.

The intelligent connected vehicle (ICV) is an important trend in automobile development, but little research has been conducted on the technological differences in the ICV industry across countries. In this regard, the authors select China, the United States (US) and the European Union (EU) as countries with developed ICV industries to reveal these differences based on the perspective of subdivision technology.

The authors use logistic regression to fit lifecycles at technology level and country level based on ICV-related patents from China, the US and the EU, then use the Revealed Technological Advantage (RTA) index, Fast-Growing Specialization Index (FGSI) and International Patent Classification (IPC) numbers to conduct comparison of national technology advantages, finally use the social network analysis to investigate the evolution of characteristics and intermediate nodes of each technology innovation network.

Technology lifecycles vary according to the subdivision technology and country. The global development of the ICV industry has reached the mature stage, and 2030 may be a watershed moment, ushering in a wave of new technology iterations. In various subdivision technologies, China and the US have more leading RTAs, and China and the EU have more leading FGSIs. Innovation networks in different countries expand with technology lifecycles, with that in China being the fastest. China's Universities, the US's enterprises and the EU's research institutes are active in cooperative innovation as intermediaries.

This is the first study to compare the development of the ICV industry in major countries from the perspective of subdivision technology and reveal characteristics of innovation networks in each.