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Book part
Publication date: 29 May 2023

Ajay Sharma and Ajit Bansal

Purpose: This chapter aims to evaluate the impact of money laundering and terrorism financing on the Indian economy and to study the effectiveness of prevention of money…

Abstract

Purpose: This chapter aims to evaluate the impact of money laundering and terrorism financing on the Indian economy and to study the effectiveness of prevention of money laundering acts and terrorist financing as per the guidance of the financial protection task force.

Need for the study: Developing countries like India have been more vulnerable to terrorism and financial scams over the last four decades. Despite the establishment of regulating bodies and anti-money laundering acts, this problem continued to be a national threat. Therefore, examining the impact of money laundering and terrorism finance on the Indian economy is necessary.

Methodology: This study is based on secondary data gathered from the web portals of government agencies and international organisations dealing with money laundering and terror funding. Newspapers, journals, and annual reports are reviewed to identify the modus operandi of money laundering operators and their impact on the economy.

Findings: Money laundering and terrorism financing significantly threaten the Indian economy and national security. Despite different anti-money laundering laws and multiple regulating authorities, the system has pitfalls that allow economic fraud and money transactions for terrorist activities. There is a need for cyber security, and integrated enforcement agencies to combat money laundering at national and international levels.

Practical implications: This study would be helpful for academicians and policymakers to understand the nexus of money laundering and terrorism financing and its impacts on the Indian economy.

Details

Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy
Type: Book
ISBN: 978-1-83753-416-6

Keywords

Book part
Publication date: 29 May 2023

Deeksha Ahuja, Pallavi Bhardwaj and Pankaj Madan

Purpose: This study aims to employ bibliometric analysis to condense multiple studies into a single publication that not only gives insights into the growth and advancement of the…

Abstract

Purpose: This study aims to employ bibliometric analysis to condense multiple studies into a single publication that not only gives insights into the growth and advancement of the research area but also establishes a future research agenda. This study provides a summary of advances in academic research on money laundering. The research includes bibliometric analysis and visualisation of bibliographic data using the Scopus database. The results of the study show that there has been a significant increase in the number of publications in the field of money laundering research, with topics focussed on specific areas. This study will also benchmark existing and preliminary themes, designs, and methodological choices for future money laundering research.

Methodology: With the help of the ‘visualisation of similarities’ (VOS) viewer open-source software, bibliometric analysis was performed using Scopus data. Citation analysis, topic mapping, country collaboration, co-citation analysis, and keyword co-occurrence analysis are some of the approaches used in bibliometric analysis.

Findings: Based on a bibliometric analysis of 1,391 research papers retrieved from the Scopus database over the past three decades (1990–2021), the study identified the most prominent authors, studies, journals, affiliations, and countries in the field of money laundering, as well as the most co-cited authors and journals. The writers also highlight future study issues in the field of money laundering.

Practical implications: The study’s findings might provide academics and practitioners with information on the present state of money laundering research and trend subjects. It can also be used as a guideline for identifying possible research gaps in the existing literature.

Details

Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy
Type: Book
ISBN: 978-1-83753-416-6

Keywords

Content available
Book part
Publication date: 29 May 2023

Abstract

Details

Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy
Type: Book
ISBN: 978-1-83753-416-6

Content available

Abstract

Details

Compliance and Financial Crime Risk in Banks
Type: Book
ISBN: 978-1-83549-042-6

Book part
Publication date: 20 November 2023

Iza Gigauri and Laeeq Razzak Janjua

Industry 4.0 with artificial intelligence (AI), the Internet of Things, and automation are giving way to Industry 5.0 which places emphasis on workers' well-being, people, and…

Abstract

Industry 4.0 with artificial intelligence (AI), the Internet of Things, and automation are giving way to Industry 5.0 which places emphasis on workers' well-being, people, and society. The new era accentuates interaction between humans and smart machines to drive prosperity and induce sustainable contribution of industry to society. It must build a resilient economy to cope with future uncertainties or external shocks. Moreover, the sustainability effort of companies demanded by consumers, employees, shareholders, governments, and civil society requires sustainability transformation of business strategies. Applying sustainability principles in product design implies the consideration of a product's entire life cycle. Technologies accelerate sustainable production and support using natural resources efficiently taking into consideration planetary boundaries. This condition also makes for a novel perception of products, including financial products. Under the current circumstances of a volatile, uncertain, complex, and ambiguous environment, the focus on consumers and recognition of their dominance play a pivotal role in business models to maintain customer relationships. Thus, the digital, sustainable, human-centric industry is emerging. This chapter deals with digital products to enable twin transition and accomplish a sustainable business strategy simultaneously. It examines the reciprocal reinforcement of sustainability and digitalization and discusses the impact of digital sustainability on products. In this sense, this chapter also outlines the business contribution to sustainable development through digitalization. Finally, a holistic model for a hypothetical financial remittance product is offered to demonstrate how a digital product can contribute to sustainable development.

Details

Digitalization, Sustainable Development, and Industry 5.0
Type: Book
ISBN: 978-1-83753-191-2

Keywords

Abstract

Details

Operational Risk Management in Banks and Idiosyncratic Loss Theory: A Leadership Perspective
Type: Book
ISBN: 978-1-80455-223-0

Book part
Publication date: 18 April 2016

Fabio Monteduro, Alessandro Hinna and Sonia Moi

This chapter aims to contribute to the literature on public governance and its link to corruption. In particular, the chapter presents conceptual arguments for better…

Abstract

Purpose

This chapter aims to contribute to the literature on public governance and its link to corruption. In particular, the chapter presents conceptual arguments for better understanding the ways in which public governance choices may affect corruption levels, thus identifying governance policies, mechanisms, and roles that can contribute in fighting and preventing corruption at macro-, meso- and micro-levels of analysis.

Methodology/approach

Starting from a macro-, meso- and micro-perspectives, this chapter is based on a literature review in order to understand connections between public governance and corruption.

Findings

Even if literature on the causes of public corruption are analysed from the macro-, meso-, and micro-perspectives, contributions of public governance scholars in relation to anticorruption efforts are mainly concentrated on a macro-perspective of analysis, while only a limited number of scholars offer a reflection on the possible interdependencies among governance policies and instruments and anticorruption efforts at the organizational level.

Originality/value

Despite the importance of the meso- and micro-perspectives, the literature review presented in this chapter shows us an important gap on the definition of which governance mechanisms and instruments or organizational policies are important to carry out in order to prevent or fight corruption, thus highlighting the need to improve research on this important field.

Details

Governance and Performance in Public and Non-Profit Organizations
Type: Book
ISBN: 978-1-78635-107-4

Keywords

Book part
Publication date: 26 November 2013

Michael Johnston

Denmark’s apparent success at controlling corruption is likely both real and more complex than it may appear. This chapter reviews a series of hypotheses about the extent and…

Abstract

Denmark’s apparent success at controlling corruption is likely both real and more complex than it may appear. This chapter reviews a series of hypotheses about the extent and sources of corruption control in Denmark, emphasizing both domestic and international factors. Some possible vulnerabilities are discussed, including whether Greenland – which is usually excluded from Danish governance ratings – might introduce corruption via its mining industries, and whether the growing wind-power industry (in some senses, another extractive enterprise) might also encourage corruption. A simple data analysis, using the Gothenburg University Quality of Government Impartiality Index, suggests that small social scale, a homogeneous population, competitive politics, and extensive international connectedness might well help check Danish corruption, but relationships among the variables are complex and marked by considerable simultaneity. Denmark illustrates two subtleties often overlooked: the importance of “soft controls” – social values, a working consensus, an emphasis on fairness, and common goals – for corruption control, and the question of whether advanced market societies really control corruption or merely reduce incentives to engage in it, as a result of business-friendly policies and institutions. A final issue involves dependent variables: better indirect measures of corruption might well be obtained by gathering and benchmarking indicators of government performance.

Details

Different Paths to Curbing Corruption
Type: Book
ISBN: 978-1-78190-731-3

Book part
Publication date: 29 May 2023

Charu Saxena, Shipra Pathak, Ramneek Ahluwalia and Pankaj Kathuria

Purpose: In this study, an attempt has been made to examine the compliance unit’s role in mediating the electronic government’s role in money laundering. E-government is clarified…

Abstract

Purpose: In this study, an attempt has been made to examine the compliance unit’s role in mediating the electronic government’s role in money laundering. E-government is clarified as the application of Information technology to encourage access and transfer of all aspects of government amenities and operations that impact transparency and accountability for the benefit of the people, trades, workforces and other stakeholders. The current study aims to assess whether the e-government can lessen or counterbalance the risks related to money laundering in the country and the mediating role of the compliance unit in reducing money laundering.

Methodology: This study practices structural modelling to assess the direct linkage between e-government and anti-money laundering and the indirect path between e-government and anti-money laundering that passes through the compliance unit as a mediator.

Findings: The findings prove that the compliance unit fully mediates the relationship between E-government and anti-money laundering. The direct path shows an insignificant relationship between e-government and money laundering, but this association becomes significant when the compliance unit is brought as a mediator.

Originality: This study directs that e-government runs on a sustainable ICT platform to improve transparency and accountability of all aspects of government facilities and actions for sustainable economic goals and help to diminish money laundering by enhancing transparency and accountability of government administration.

Details

Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy
Type: Book
ISBN: 978-1-80382-555-7

Keywords

Book part
Publication date: 23 December 2005

Bonnie Buchanan

Corruption can take many forms. One of the most alarming aspects of corruption has been the impact of money laundering on financial markets. The amount of money laundered in the…

Abstract

Corruption can take many forms. One of the most alarming aspects of corruption has been the impact of money laundering on financial markets. The amount of money laundered in the Asian region is estimated at approximately $200 billion, or one-fifth the global total. Some of the Asia-Pacific countries still lack any consistent anti-money laundering legislation. The Asia-Pacific region is also home to five of the six remaining non-cooperative countries and territories on The Financial Action Task Force's 2004 list. In this paper, I present a clinical examination of the impact of money laundering and Off-shore financial centres on Asian Pacific financial markets. I describe the money laundering cycle, tools and techniques utilized in the Asia-Pacific region as well as anti-money laundering measures and regulation.

Details

Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century
Type: Book
ISBN: 978-0-76231-258-0

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