Search results
1 – 10 of 33The Regulatory Technology (RegTech) is said to be the use of information technology for regulatory monitoring, reporting and compliance. It is used to solve regulatory and…
Abstract
Purpose
The Regulatory Technology (RegTech) is said to be the use of information technology for regulatory monitoring, reporting and compliance. It is used to solve regulatory and compliance issues more effectively and efficiently. Regulators with the digitization of regulation and datafication of processes would get empowered to manage volumes of data. RegTech would assist them in understanding innovative products, transactions, risks, reporting and any market manipulation activities in real time. For successful use of RegTech, the regulatory framework of a country should be comprehensive to address issues that may arise in the use of RegTech. Thus, the purpose of this article is to analyze the adequacy of the Saudi Arabian legal framework to address RegTech adoption.
Design/methodology/approach
The researcher using logical analysis method analyzed the available laws and interpreted the law to see the applicability and the adequacy of laws to regulate the use of RegTech in Saudi Arabia. The content analysis was also used in this research to analyze the literature. This analysis helped to explain the available literature on the research topic and its relevancy and the gap in literature.
Findings
The analysis using the logical and content methodologies shows that Saudi Arabia has general law to address some of the issues that might arise in the adoption of RegTech. Nonetheless, amending some of the existing laws or introducing guidelines could help better uplift of RegTech and similar technologies in Saudi Arabia.
Originality/value
As businesses and regulatory authorities embrace technology for better and efficient delivery of services and products in Saudi Arabia, the research is timely to analyze the adequacy of the laws in Saudi Arabia for adoption of RegTech. In the use of RegTech, issues related to privacy, due diligence, accountability and transparency could arise, however, there is a dearth of literature in these areas relating to technology adoption.
Details
Keywords
Tareq Na’el Al-Tawil and Salam Abdallah
The purpose of this paper is to examine the nature of cyberbullying and corresponding strategies being used under the New United Arab Emirates (UAE) Cybercrimes Law.
Abstract
Purpose
The purpose of this paper is to examine the nature of cyberbullying and corresponding strategies being used under the New United Arab Emirates (UAE) Cybercrimes Law.
Design/methodology/approach
The analysis begins with a review of the nature of cyberbullying, focusing primarily on key concepts, underlying risk factors, forms of cyberbullying and adverse effects. Background information about the nature of cyberbullying will then lay the foundation for the subsequent sections of the analysis, which will focus on preventive strategies and legislative measures. The second section of the analysis will entail a review of the legislative framework for cyberbullying in the UAE. The goal here is to examine how the UAE is responding to the emerging threat of cyberbullying in its jurisdiction. The next section will then shift gears to interventions and strategies being implemented at the global level. A global perspective is central to comparing practices in the UAE to international standards and regulations.
Findings
Findings from the analysis have shown that the UAE has the most robust and comprehensive cyberbullying laws internationally. Nonetheless, the New Cybercrimes Law is ambiguous, and it is not expressively specific to cyberbullying. The law does not have a clear definition of cyberbullying, as well as the scope of its application to specific cases involving students. A comparative analysis across jurisdictions has revealed that most countries neither have specific cyberbullying laws nor explicitly define the phenomenon in existing laws. Thus, cyberbullying is a gray area in the UAE national law, requiring a clear definition and scope of application. The courts will establish case law that will finally address the current definitional challenges and extend of applying the New Cybercrimes Law.
Originality/value
The analysis concludes with the application of international best standards and practices to the UAE context, focusing specifically on how to strengthen laws and procedures in the UAE.
Details
Keywords
Călin Mihail Rangu, Leonardo Badea, Mircea Constantin Scheau, Larisa Găbudeanu, Iulian Panait and Valentin Radu
In recent years, the frequency and severity of cybersecurity incidents have prompted customers to seek out specialized insurance products. However, this has also presented…
Abstract
Purpose
In recent years, the frequency and severity of cybersecurity incidents have prompted customers to seek out specialized insurance products. However, this has also presented insurers with operational challenges and increased costs. The assessment of risks for health systems and cyber–physical systems (CPS) necessitates a heightened degree of attention. The significant values of potential damages and claims request a solid insurance system, part of cyber-resilience. This research paper focuses on the emerging cyber insurance market that is currently in the process of standardizing and improving its risk analysis concerning the potential insured entity.
Design/methodology/approach
The authors' approach involves a quantitative analysis utilizing a Likert-style questionnaire designed to survey cyber insurance professionals. The authors' aim is to identify the current methods used in gathering information from potential clients, as well as the manner in which this information is analyzed by the insurers. Additionally, the authors gather insights on potential improvements that could be made to this process.
Findings
The study the authors elaborated it has a particularly important cyber and risk components for insurance area, because it addresses a “niche” area not yet proper addressed in specialized literature – cyber insurance. Cyber risk management approaches are not uniform at the international level, nor at the insurer level. Also, not all insurers can perform solid assessments, especially since their companies should first prove that they are fully compliant with international cyber security standards.
Research limitations/implications
This research has concentrated on analyzing the current practices in terms of gathering information about the insured entity before issuing the cyber insurance policy, level of details concerning the cyber security posture of the insured entity and way such information should be analyzed in a standardized and useful manner. The novelty of this research resides in the analysis performed as detailed above and the proposals in terms of information gathered, depth of analysis and standardization of approach made. Future work on the topic can focus on the standardization process for analyzing cyber risk for insurance clients, to improve the proposal based also on historical elements and trends in the market. Thus, future research can further refine the standardization process to analyze in more depth the way this can be implemented and included in relevant legislation at the EU level.
Practical implications
Proposed improvements include proposals in terms of the level of detail and the usefulness of an independent centralized approach for information gathering and analysis, especially given the re-insurance and brokerage activities. The authors also propose a common practical procedural approach in risk management, with the involvement of insurance companies and certification institutions of cyber security auditors.
Originality/value
The study investigates the information gathered by insurers from potential clients of cyber insurance and the way this is analyzed and updated for issuance of the insurance policy.
Details
Keywords
Oluwatoyin Esther Akinbowale, Heinz Eckart Klingelhöfer and Mulatu Fekadu Zerihun
This study aims to investigate the feasibility of employing a multi-objectives integer-programming model for effective allocation of resources for cyberfraud mitigation. The…
Abstract
Purpose
This study aims to investigate the feasibility of employing a multi-objectives integer-programming model for effective allocation of resources for cyberfraud mitigation. The formulated objectives are the minimisation of the total allocation cost of the anti-fraud capacities and the maximisation of the forensic accounting capacities in all cyberfraud incident prone spots.
Design/methodology/approach
From the literature survey conducted and primary qualitative data gathered from the 17 licenced banks in South Africa on fraud investigators, the suggested fraud investigators are the organisation’s finance department, the internal audit committee, the external risk manager, accountants and forensic accountants. These five human resource capacities were considered for the formulation of the multi-objectives integer programming (MOIP) model. The MOIP model is employed for the optimisation of the employed capacities for cyberfraud mitigation to ensure the effective allocation and utilisation of human resources. Thus, the MOIP model is validated by a genetic algorithm (GA) solver to obtain the Pareto-optimum solution without the violation of the identified constraints.
Findings
The formulated objective functions are optimised simultaneously. The Pareto front for the two objectives of the MOIP model comprises the set of optimal solutions, which are not dominated by any other feasible solution. These are the feasible choices, which indicate the suitability of the MOIP to achieve the set objectives.
Practical implications
The results obtained indicate the feasibility of simultaneously achieving the minimisation of the total allocation cost of the anti-fraud capacities, or the maximisation of the forensic accounting capacities in all cyberfraud incident prone spots – or the trade-off between them, if they cannot be reached simultaneously. This study recommends the use of an iterative MOIP framework for decision-makers which may aid decision-making with respect to the allocation and utilisation of human resources.
Originality/value
The originality of this work lies in the development of multi-objectives integer-programming model for effective allocation of resources for cyberfraud mitigation.
Details
Keywords
Mustafa Özgün Atalay, Yusuf Erdem Tunç and Hazel Ceren Erkengel
The concept of cyber-spirituality and digital security has recently emerged due to the increasing dependence on technology. Using technology in spiritual contexts presents…
Abstract
The concept of cyber-spirituality and digital security has recently emerged due to the increasing dependence on technology. Using technology in spiritual contexts presents opportunities for enhanced spiritual experiences and risks that can compromise one's digital security. It emphasizes how the intersection of spirituality and technology can potentially result in a more fulfilling spiritual practice while adding to the existing concerns about data security.
In contemporary times, the impact of technology on mental health has emerged as a critical concern that demands ethical conduct in cyberspace. People are increasingly invested in fostering interfaith dialogues, achieving social equity, and promoting fair play within online communities. This chapter highlights the imperative need to approach technology with mindfulness while prioritizing digital safety in the fast-paced world.
In today's interconnected world, internet users are constantly exposed to a host of risks, including cyberattacks, cyberbullying, cyber-victimizations, and privacy violations. This chapter critically examines these severe threats to personal safety as well as overall societal well-being caused by increasing digitization. Focusing on critical factors such as digital literacy, digital citizenship, cybersecurity practices, and the legal framework concerning data protection, it stresses responsible conduct in the virtual space through informed decision-making by individuals.
Overall, this chapter aims to investigate how cyber-spirituality intersects with digital security in the context of the workplace. Accordingly, it advocates for an introspective attitude toward technology usage that underscores responsible behavior while helping us strike a balanced relationship with digital tools. Through this approach, we can not only safeguard against potential threats but also enhance our emotional well-being.
Details
Keywords
This paper aims to assess the legal and regulatory framework for mobile banking (M-banking) in Tanzania. The technological development in information and communication…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Originality/value
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.
Tinna Dögg Sigurdardóttir, Lee Rainbow, Adam Gregory, Pippa Gregory and Gisli Hannes Gudjonsson
The present study aims to examine the scope and contribution of behavioural investigative advice (BIA) reports from the National Crime Agency (NCA).
Abstract
Purpose
The present study aims to examine the scope and contribution of behavioural investigative advice (BIA) reports from the National Crime Agency (NCA).
Design/methodology/approach
The 77 BIA reports reviewed were written between 2016 and 2021. They were evaluated using Toulmin’s (1958) strategy for structuring pertinent arguments, current compliance with professional standards, the grounds and backing provided for the claims made and the potential utility of the recommendations provided.
Findings
Consistent with previous research, most of the reports involved murder and sexual offences. The BIA reports met professional standards with extremely high frequency. The 77 reports contained a total of 1,308 claims of which 99% were based on stated grounds. A warrant and/or backing was provided for 73% of the claims. Most of the claims in the BIA reports involved a behavioural evaluation of the crime scene and offender characteristics. The potential utility of the reports was judged to be 95% for informative behavioural crime scene analysis and 40% for potential new lines of enquiry.
Practical implications
The reports should serve as a model for the work of behavioural investigative advisers internationally.
Originality/value
To the best of the authors’ knowledge, this is the first study to systematically evaluate BIA reports commissioned by the NCA; it adds to previous similar studies by evaluating the largest number of BIA reports ever reviewed, and uniquely provides judgement of overall utility.
Details
Keywords
Ali Katouzian Bolourforoush and Hamid Jahankhani
Banking traces back to 2000 BC in Assyria, India and Sumeria. Merchants used to give grain loans to farmers and traders to carry goods between cities. In ancient Greece and Roman…
Abstract
Banking traces back to 2000 BC in Assyria, India and Sumeria. Merchants used to give grain loans to farmers and traders to carry goods between cities. In ancient Greece and Roman Empire, lenders in temples, provided loans, and accepted deposits while performed change of money. The archaeological evidence uncovered in India and China corroborates this. The major development in banking came predominantly in the mediaeval, Renaissance Italy, with the major cities Florence, Venice and Genoa being the financial centres. Technology has become an inherent and integral part of our lives. We are generating a huge amount of data in transfer, storage and usage, with greater demands of ubiquitous accessibility, inducing an enormous impact on industry and society. With the emergence of smarter cities and societies, the security challenges pertinent to data become greater, impending impact on the consumer protection and security. The aim of this chapter is to highlight if SSI and passwordless authentication using FIDO-2 protocol assuage security concerns such as authentication and authorisation while preserving the individual's privacy.
Details