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This paper aims to illustrate the main changes during martial law for conducting financial intelligence (monitoring), in particular, in the system of combating legalisation (laundering) of illegally gained income.

The research methodology includes general scientific methods of cognition. The authors used it to research the theoretical, organisational and legal aspects of financial intelligence (monitoring) in normal situations and during martial law. The authors also use the doctrinal legal research method to analyse and describe the legislation connected to the financial intelligence (monitoring) during martial laws.

This paper is an original work written by authors that discusses financial intelligence (monitoring) during martial law. The following changes in the conduction of financial intelligence (monitoring) were highlighted: suspension of scheduled and unscheduled on-site inspections; postponement of the entry into force of the provisions of some regulations on the submission of reports in electronic form; and the norms amending to remove administrative barriers in matters of financial intelligence (monitoring) in martial law. The authors also noted that certain rules for the functioning of the financial intelligence (monitoring) system were being clarified. Thus, the financial intelligence (monitoring) regime is being weakened to some extent.

In connection with the introduction of martial law in the territory of Ukraine on 24 February 2022, the most important changes that have taken place in the banking and financial sectors of the economy should be mentioned. In particular, this applies to the issues of the regulation on the statutory and regulatory levels. Certain vital points regarding the mechanism and procedures for conducting financial intelligence (monitoring) also needed to be changed, on a need-to-know basis to adapt to the needs of Ukrainian society during the military aggression of the Russian Federation. This paper is devoted to the study of financial intelligence (monitoring) during martial law. The authors identified the main changes in the procedure for conducting financial intelligence (monitoring) by both the National Bank of Ukraine (one of the main entities) and the legislator (by amending the current regulatory framework).

The purpose of the article is to analyze the notion of “financial intelligence (monitoring)” in the system of combating money laundering and compare foreign financial intelligence units. Money laundering poses a systemic risk to the financial and economic spheres, as well as to the national security of all countries. Financial monitoring should be pointed out while analyzing the issue of overcoming and preventing money laundering. It serves as one of the most sovereign remedies in the system of counteracting money laundering to minimize and effectively combat organized criminality and money laundering. The high level of development of the shadow economy, corruption, ineffectiveness of regulatory and legal support, as well as duplication of functions of individual authorities have become prerequisites for the financial monitoring system formation.

The theoretical and legal principles of financial monitoring in the system of counteraction to money laundering using the system-structural method were analyzed. The application of this method allowed to systematize the basic provisions on financial monitoring and the principles of its implementation. The system-structural method was used combining with the method of terminological analysis and operationalization of concepts. This method was used to identify key problematic aspects of understanding the financial monitoring essence, the peculiarities of the scientific community views on the definition of “financial intelligence,” “financial intelligence unit.” The method of analysis and synthesis in their systemic combination, as well as the ascent from the abstract to the concrete, was directly used to determine the impact of money laundering on the financial and economic security of Ukraine in the context of globalization. The extrapolation method was used to determine the possibility of implementing the analyzed existing world experience in the domestic practice of financial monitoring as an effective way to combat money laundering. The method of creating a theory was used to generalize the results of the research, to find general patterns for the objects being studied. The comparative method was used for comprehensive comparative research.

The development of money laundering and terrorist financing is one of the main challenges facing each state in the context of financial globalization. This is because the owners of untaxed income are trying to give them a lawful origin. The so-termed “criminal proceeds” pose a threat not only to the economy of any state but also to the national system. In turn, the low level of the financial system controlling instrument is conducive to the accelerated criminally obtained income transfer, which leads to the development of the shadow economy.

The authors recognized the most appropriate interpretation of the term “money laundering.” This is the process of transforming illegally obtained income into legal, ie legal income. The purpose of such a transformation is to conceal the original source of “criminal proceeds” and eliminate their traces. However, it should also be emphasized that the term “money laundering” also applies to such financial transactions that form a certain asset as a result of “criminal acts” (in particular, corruption).

This paper aims to illustrate how virtual assets are used in such criminal offenses as money laundering and seeks to study the role of financial intelligence (monitoring) of transactions with virtual assets effectively in combating money laundering.

This research methodology includes system and structural methods that help analyze the theoretical, organizational and legal bases of the financial intelligence (monitoring) of transactions with virtual assets. The authors use the doctrinal legal research approach to analyze and describe the legislation connected to the financial intelligence (monitoring) operations with virtual assets. To identify critical issues of understanding the “virtual assets” and “cryptocurrency” essence, the peculiarities of the scientific community views on the given definitions, the authors use the method of terminological analysis and concepts operationalization. The authors use the extrapolation method to determine the possibility of implementing the analyzed best practices of foreign countries in the domestic practice of financial intelligence (monitoring) of transactions with virtual assets as an effective way in combating money laundering.

This study demonstrates the role of financial intelligence (monitoring) of transactions with virtual assets as an effective way to combat money laundering.

The article is devoted to comprehensively studying “virtual assets” and “cryptocurrency” concepts. The authors carried out a comparative analysis of these two concepts with the definition of their features and the main characteristics and features that separate them from each other. The authors also stressed the need for countries to strengthen the requirements for situations and activities with virtual assets, where there is a high level of risk in a risk-based approach.

The purpose of this paper is to analyze the functions of financial intelligent investigations by the Indonesian financial intelligent unit in conjunction with the participating reporting parties, to consider the obstacles and challenges to reduce money laundering cases in Indonesia, realizing that the role of the financial intelligent investigations not only conducted by Indonesian Financial Intelligent Unit itself but the active participation from reporting parties such as banking institution. The function of financial intelligent unit in supervising and monitoring cash financial transactions is importance in fight against economic crimes, particularly in the anti-money laundering regime.

This paper explores the Indonesian laws on prevention and eradication on money laundering crime and analyzing the importance role of financial intelligent investigations and disruption of money laundering crime.

The financial intelligent investigations will become an important strategy to combating the economic crime such as money laundering and corruption. The new perspective is needed to developing the good synergy in the financial intelligent unit and reporting parties to maximizing the eradication of money laundering cases.

The paper can be a source to explore about the money laundering eradication based on Indonesia legal perspective.

This paper gives contributions by encouraging the financial intelligent unit in conjunction with all the financial institutions to disrupt any money laundering activities, which is associated to other predicate crimes and attempting to conceal the illegal funds derived from illegal activities that commonly happened in Indonesia.

Due to their particular nature, virtual assets (VA) are vulnerable to financial crimes such as money laundering and if the appropriate legal mechanisms are not established, this may result in the financial collapse of various economies. To this effect, best practices and standards have been published by some international organisations such as the Financial Action Task Force and IMF which are now domesticated in the national laws of several countries. Therefore, the purpose of this study is to analyse the anti-money laundering (AML) legislative framework in the context of VA in three countries, namely, Mauritius, Japan and South Africa.

To achieve the research objective, the Mauritian AML laws in the context of VA were compared with the corresponding laws of some other countries, namely, Japan and South Africa. As such, a qualitative research method was adopted. In particular, the black letter approach was used to examine the relevant laws of these countries. A comparative analysis was conducted concerning the relevance of AML laws for each country when dealing with VA with the view of suggesting recommendations for Mauritian stakeholders to adopt to enhance the existing AML legal and regulatory framework.

The comparative study conducted has revealed that there are both similarities and divergences among the AML framework of the three countries further to which this research recommends that the Mauritian laws must be amended concerning the duration of information storage on VA, the definition of VA, advertisement by VA service providers and the electronic submission of annual reports. The Mauritian regulatory bodies also need to play a more active role in their joint collaboration to monitor suspicious VA transactions to combat money laundering.

At present, this study will be among the first academic writings on the efficiency of AML laws in the context of VA in Mauritius and also, because existing literature is quite scarce on assessing the adequacy of AML legislation in developing countries, this research aims at filling in the gap in literature. This study is carried out with the aim of combining a large amount of empirical, theoretical and factual information that can be of use to various stakeholders and not only to academics.

Money laundering (ML) is one of the greatest challenges, the global community faces today. Corporate entities such as financial institutions (FIs) are most susceptible to facilitate and launder money. The paper raises the following question: Who is to bear the burden of liability? Either a corporation or an individual, thus this paper examines liability issues in a corporate setting particularly financial institutions, which arise from regulatory noncompliance or failure to oversight in the context of ML.

The study is legal doctrinal mainly based on case laws, legislation and research articles.

Firstly, this study provides how the concept of liability in a corporate setting in UK and USA has drifted from its traditional “duty to care” standard to a new “duty to oversight” and “Responsible Corporate Officer” concepts resulting a shift in corporate to individual liability. Secondly, in the context of anti-ML violations in FIs, imposition of corporate or personal liability solely may not effectively deter ML and may create conflicts between management and shareholders.

The paper can be a source to explore the issue of ML liability for regulatory noncompliance based on UK, USA and Pakistan law.

This paper demonstrates that the imposition of either corporate or personal liability may create dilemma either for shareholders or management; however, a “combine or collective liability” approach carries potential to retard ML activities in FIs and balancing the harm-penalties incurred upon a corporation while addressing shareholders concerns.

The strategic management literature emphasizes the concept of business intelligence (BI) as an essential competitive tool. Yet the sustainability of the firms’ competitive advantage provided by BI capability is not well researched. To fill this gap, this study attempts to develop a model for successful BI deployment and empirically examines the association between BI deployment and sustainable competitive advantage. Taking the telecommunications industry in Malaysia as a case example, the research particularly focuses on the influencing perceptions held by telecommunications decision makers and executives on factors that impact successful BI deployment. The research further investigates the relationship between successful BI deployment and sustainable competitive advantage of the telecommunications organizations. Another important aim of this study is to determine the effect of moderating factors such as organization culture, business strategy, and use of BI tools on BI deployment and the sustainability of firm’s competitive advantage.

This research uses combination of resource-based theory and diffusion of innovation (DOI) theory to examine BI success and its relationship with firm’s sustainability. The research adopts the positivist paradigm and a two-phase sequential mixed method consisting of qualitative and quantitative approaches are employed. A tentative research model is developed first based on extensive literature review. The chapter presents a qualitative field study to fine tune the initial research model. Findings from the qualitative method are also used to develop measures and instruments for the next phase of quantitative method. The study includes a survey study with sample of business analysts and decision makers in telecommunications firms and is analyzed by partial least square-based structural equation modeling.

The findings reveal that some internal resources of the organizations such as BI governance and the perceptions of BI’s characteristics influence the successful deployment of BI. Organizations that practice good BI governance with strong moral and financial support from upper management have an opportunity to realize the dream of having successful BI initiatives in place. The scope of BI governance includes providing sufficient support and commitment in BI funding and implementation, laying out proper BI infrastructure and staffing and establishing a corporate-wide policy and procedures regarding BI. The perceptions about the characteristics of BI such as its relative advantage, complexity, compatibility, and observability are also significant in ensuring BI success. The most important results of this study indicated that with BI successfully deployed, executives would use the knowledge provided for their necessary actions in sustaining the organizations’ competitive advantage in terms of economics, social, and environmental issues.

This study contributes significantly to the existing literature that will assist future BI researchers especially in achieving sustainable competitive advantage. In particular, the model will help practitioners to consider the resources that they are likely to consider when deploying BI. Finally, the applications of this study can be extended through further adaptation in other industries and various geographic contexts.

This chapter reviews traditional intelligence work, primarily how intelligence was perceived and conducted in the industrial economy. The review includes economic sectors with dedicated intelligence functions such as military, law enforcement, and national security. The review also includes secondary intelligence work in all other economic sectors. Looking across all these examples, the authors present a traditional life cycle model of intelligence work and highlight this traditional view of intelligence’s tactical and reactive approach. The chapter details the historical evolution and common intelligence elements in military, business, law enforcement, judicial forensics, national security, market, financial, medical, digital, and computer forensics.

This study aims to determine the performance of the Pakistani financial intelligence unit in combating money laundering/terrorist financing in local and global contexts.

The study used a qualitative research design. The objective is achieved by critically examining the Anti-money Laundering Act and its relevant clauses concerning the financial monitoring unit and other related legislation. Further, empirical data was collected through semi-structured interviews with chief compliance officers from regulated entities, regulators and premier law enforcer.

The performance of the financial monitoring unit has severe issues concerning the dissemination of financial intelligence due to its time taking behaviour, non-sharing of feedback with reporting agencies, dearth of international cooperation, lack of trained and relevant personnel and financial constraints.

To the best of the authors’ knowledge, this is a maiden study concerning financial monitoring unit in Pakistan.

In 2019, FIU-the Netherlands celebrated its 25th anniversary. This study takes the occasion to reflect on the role of the FIU in financial surveillance and to describe its core practices of collecting, analysing and disseminating financial intelligence.

Because FIU practices are often secret and its transaction data classified as state secrets, the FIU’s daily operational activities remain obscure. Drawing on interviews, public reports and an online training course, this study encircles secrecy and offers a fine-grained analysis of the FIU's core activities.

The article finds that the FIU plays a pivotal role in financial surveillance because it can operate at various intersections. An FIU operates at the intersection of finance and security, in between the public and private sector and at the national and international domain. This pivotal role makes the FIU indispensable in the surveillance of payment systems and spending behavior.

The article poses that the desirability and effectiveness of financial surveillance has to date not received sufficient consideration, while it affects (the privacy of) anyone with a bank account. The article asks: is it ethically justifiable that transaction information is declared suspect, investigated, and shared nationally and internationally, without the individual or entity concerned officially being notified and legally named a suspect?

This case-study is not only relevant for the study of finance/security, AML/CFT and financial surveillance, but also to policy makers and the broader public who merit an understanding of how their financial behaviour is being surveilled.