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The purpose of this paper is to illustrate the growing problem of cross‐border fraud, assess the structures that have emerged to deal with it, identify weaknesses and make the case for a new international body to lead the fight against cross‐border fraud.

This paper reviews various primary and secondary resources drawn from around the world to assess the current infrastructure for addressing cross‐border fraud.

The paper finds various gaps as well as examples of good practice in the fight against cross‐border fraud. However, to have a meaningful impact it is concluded a new international body is required.

The paper is largely focused upon the English speaking world and the European Union and does not explore the nature and response to the problem beyond these areas, other than in current international led responses.

The findings have implications for national and international bodies in considering appropriate ways forward in creating stronger infrastructures to counter cross‐border fraud.

This paper will be useful to policy‐makers and the law enforcement community in considering options for the future and is the first to advocate a new international capacity to fight cross‐border fraud.

The purpose of this paper is to shed further light on international financial linkages created by banks. Typically, the larger the balance sheet exposure a bank has to a counterparty country, the more will be both its risk exposure and sensibility to shocks to this latter. The latest crisis has revealed the importance of filling the existing data gaps which hinder a full understanding of the geographical composition of banks’ balance sheet on a global basis.

This paper, by focusing on US banks, reviews existing data on bilateral foreign positions on both a consolidated and an unconsolidated basis.

The investigation stresses the extent to which new data enhancements are going to enable to a better understanding of the global banking system and discusses other data limitations and gaps which should be addressed. In particular, policy recommendations point to the need to collect more detailed foreign offices-related statistics.

This is the first attempt in the literature to discuss data availability, limitations and policy suggestions regarding international bilateral banking statistics in the USA.

This paper aims to analyse the Financial Intelligence Units (FIUs) of Canada, Australia, The Netherlands and India, focussing on key internal and external processes, such as the exchange of information, operations and compliance with Financial Action Task Force (FATF) recommendations. The paper relies on secondary sources to compare and assess the practices and strategies employed by FIUs within these jurisdictions.

The paper relies on secondary sources to compare and assess the practices and strategies used by FIUs within these jurisdictions.

The ability to combat money laundering and the financing of terrorism (AML/CFT) in countries is influenced by several internal and external factors, including the efficiency of their FIUs’ and compliance with FATF recommendations. The analysis of FIUs across the countries demonstrates a raft of multifaceted challenges and concerns. Yet, when it comes to compliance with FATF’s recommendations, shared concerns emerge, hinting at the complex interplay between country-specific operations and global compliance standards. The paper recommends enhancements to the FIUs’ operational efficiency and overall effectiveness in combating financial crimes.

The paper’s findings are limited to openly available data (such as annual reports and internet sources) for the respective countries. The paper relies on the transparency of FIUs through public media, focusing on comparing and analysing the FIUs of only four specific countries, which limits the generalisations of the findings.

This paper is significant for policymakers and FIU authorities, as they strive to improve the effectiveness of their units and assess their performance in alignment with international standards. The comparative analysis of the FIUs of India, Australia, Canada and The Netherlands provides valuable insights and recommendations that can inform policymakers and operational strategies towards enhancing how FIUs function globally.

This paper offers a unique comparative analysis of the FIUs of India, Australia, Canada and The Netherlands. Its findings have practical implications for policymakers and FIU authorities towards enhancing performance against international AML/CFT standards and promoting global cooperation.

The past decade, with its unprecedented surge in financial activity and financial crises, has been one of increased awareness on the part of both regulatory authorities and market participants of the potential of payment systems for propagating and amplifying financial shocks, especially in a cross‐border context. This has led the European Commission to propose, on 30th May 1996, a Directive aimed at reducing systemic risk. (This has been the subject of an earlier contribution by the same author, pub‐lished in Vol 5, No 1 of the Journal.) In the meanwhile, the European Parliament has delivered its opinion and the Council has adopted a common position. This paper examines the contents of this common position.

Central banks from more than 100 countries, representing 95% of the global financial output, are studying Central Bank Digital Currencies (CBDCs). CBDCs can potentially enable safe, efficient and inexpensive cross-border and cross-currency payments in today's interconnected financial system. However, a critical factor influencing their expansion is cross-border interoperability. Therefore, there is a high demand from central banks, researchers, computer scientists, policy- and decision-makers to explore this topic further. Its better understanding will improve information management, enhance the decision-making process, and result in the redesign of central banks' processes and products (digital currencies).

The authors investigate this novel and timely topic by conducting a Multivocal Systematic Literature Review (MSLR) on CBDCs cross-border interoperability. Additionally, the authors collect and analyze empirical data from various online resources such as CBDC trackers.

The authors conclude that although the academic literature on CBDC cross-border interoperability is very limited, valuable documents published by central banks and other entities discuss this issue and provide valuable insights. The authors paid particular attention to the reports published by the Bank of International Settlement (BIS) as it proposes three different models for CBDC cross-border interoperability. The study research reveals that most CBDC cross-border interoperability projects run by several central banks and other organizations explore these three BIS models. For this research, the authors performed an in-depth study of CBDC cross-border interoperability cases to investigate all three BIS models. The findings illustrate that although technical interoperability is feasible, plenty of work needs to be done in terms of standards and interfaces. In addition, other non-technical interoperability areas need to be explored and addressed, as there are concerns related to legal issues, regulations, jurisdictional boundaries, policy challenges and governance.

Research on CBDCs is progressing quickly, so, despite the authors’ use of an MSLR to identify the state-of-the-art, interested parties should be aware that new information is prone to appear imminently. Hence, this study work should be understood as a basis to build upon. Also, although the authors have included major academic databases in this study search, there is the possibility that a few papers may have been published in outlets that the authors have not covered. Finally, since the search in the grey literature returned thousands of hits, the authors had to define a stopping criterion for the documents to analyze.

The authors provide insights on the current state of CBDC cross-border interoperability, which is valuable to policy- and decision-makers currently assessing the situation and deciding on avenues to pursue.

The authors provide an integrated and critical view of the developments of CBDC cross-border interoperability, considering not only available academic literature but also fundamental documents from key institutions such as central banks and related organizations.

The purpose of this paper is to investigate how geographic cues embedded in a website affect Chinese consumers’ cross-border shopping experiences. The study simultaneously explores the effect of telepresence on shoppers’ perceptions of product authenticity and their trust in retailers, key drivers of behavioral intentions.

Two experimental conditions were utilized. Geographic cues depicted a famous shopping district in the retailer’s country (South Korea) or the shopper’s country (China). Study participants were female Chinese consumers in their 20s and 30s who had purchased Korean fashion products in the past (n=236). Structural equation modeling was conducted using AMOS 21.0.

Results indicate that participants in the “retailer’s country” experimental condition experienced higher telepresence and greater perceptions of product authenticity. Furthermore, telepresence increased participants’ trust in the retailer and perceived product authenticity, which led to positive behavioral intentions.

Findings offer important implications for cross-border online retailing. First, results suggest a highly successful tactic for enhancing shoppers’ perceptions of product authenticity and retailer trust on a cross-border platform. Second, cross-border online business professionals should focus on the role of telepresence. Finally, this study provides insight about Chinese cross-border shoppers.

This study contributes to the literature on cross-border online shopping. It suggests that the strategic use of geographic cues on a website can provide an experiential benefit, telepresence, to cross-border shoppers. The study’s findings provide a novel insight into possible unique success factors in cross-border e-commerce.

The European single market, as laid down in the Treaty of Rome of 1958, aims at the suppression of the concept of national residence as far as economic relationships are concerned. In the field of financial services, the creation of the single market is based on the fundamental principles of mutual recognition and minimum harmonisation. The setting up of such a market allows all financial institutions to operate under the freedom of establishment and to provide services cross‐border, benefiting from the ‘European passport’. The responsibility of the supervision of the institution is attributed to the home country authorities. Directive 611/85/EEC covers the market of professional management of investment funds (UCITS), which collect savings from a multitude of investors and invest in transferable securities. The directive allows the marketing of units of UCITS, as long as a wide set of prudential restrictions is fulfilled. At the end of 1994, UCITS in Europe were 6,818, of which around 32 per cent has been commercialised cross‐border. In 1994, the European Commission presented a new proposal to amend the UCITS directive, widening its scope and introducing several important modifications.

This paper aims to assess the legal and regulatory framework for mobile banking (M-banking) in Tanzania. The technological development in information and communication technologies has converted a mobile phone from a simple communication device to a very complex instrument that allows people to perform various digital transactions and extra operations such as web browsing and email reading. Such tremendous developments have brought in place the regime of M-banking. The birth of M-banking has brought legal and institutional challenges that were not anticipated before. It has complicated the traditional role of the telecommunication regulator and financial regulator in the business and caused legal gaps that need to be bridged.

To disclose the legal gaps and bridge them, the study used doctrinal legal method and comparative study to learn the experience of international legal instruments and policies and laws of other jurisdictions. This paper has evaluated the contribution of international legal instruments and legal frameworks of foreign jurisdictions such as Kenya and the Philippines.

It has been revealed that the prevailing laws regulating M-banking in Tanzania do not adequately address and bridge the existing legal gaps. There is a need to enact a specific law regulating M-banking and confer such powers to a specific institution to deal with regulatory issues.

This paper stresses the importance of enacting new laws that will offer room for financial inclusion in the digital economy and protect consumers against financial risk. It also intends to act as a catalyst and change agent in policy and legislative development in the M-banking industry. It would also bring special attention to addressing consumer rights, security and risky issues surrounding the M-banking industry. Although several other authors in Tanzania have written in this area, they have not clearly focused on disclosing the existing legal gaps resulting from the convergence of the financial and communication sectors. This paper is therefore trying to offer an extensive discussion on the legislative development in the M-banking industry in Tanzania.

Known incidents of money laundering involving large amounts of money generated from crime are of tremendous public interest and are consequently given wide publicity. A wide range of national and international agencies have attempted to quantify organised crime and components of money laundering in their particular sphere of interest, and their assessments are frequently made available in public statements. The purpose of this paper is to describe a comparatively simple crime‐economic model, constructed from readily available international databases, that closely ‘predicts’ a range of such expert assessments, and appears to offer a framework for determining and monitoring the size of money‐laundering flows around the world. Further research is required, but the exercise of constructing the model has identified a number of gaps in existing knowledge which could readily be addressed by well‐targeted research. Initial output from the model suggests a global money‐laundering total of S2.85bn per year, heavily concentrated in Europe and North America.

The authors evaluate financial stability and capital flows management objectives of capital controls in the context of four capital control events: removing or imposing controls on capital inflows and removing or imposing controls on capital outflows. The authors use synthetic control method to solve the endogeneity problem stemmed from the timing of capital control implementation. The authors find new evidence that capital controls are not consistently effective in reaching financial stability outcomes but are consistent in reaching capital flows management outcomes. The authors compare our results to estimates using difference-in-difference (DID) and carry out placebo analysis. Finally, we use synthetic DID to correct for the parallel trend bias and show that the results still hold.